Accounts payable (AP) and accounts receivable (AR) systems are becoming increasingly digitized to create faster, more accurate and reliable transactions and records while also enabling cloud-based and remote workflows. Digitization brings flexibility and convenience to many AP processes — but it also adds complexity, which makes those processes more vulnerable to cyber crime.
As companies of all sizes seek competitive advantage in AP automation, there is a greater need for them to understand the associated cyber security risks and address potential gaps in their defenses. This often means more investment in security controls, but technology is just the start. Employees are also critical to AP security.