Managing document retention across accounts payable can be complex and resource-intensive, particularly as regulatory requirements evolve and internal policies change. Manual approaches to assigning retention periods, applying destruction rules, and updating compliance controls often result in errors, audit challenges, and unnecessary legal exposure.The Retention Compliance Agent streamlines this process by automating retention governance end to end. Drawing on regulatory frameworks, industry standards, organizational policies, and audit records, it translates requirements into actionable retention rules and applies them consistently across all documents. Each record is automatically tagged with retention periods, destruction timelines, and compliance status as it enters the system. The agent also monitors regulatory and policy changes in real time and updates retention assignments proactively, ensuring ongoing compliance without manual intervention.By keeping retention policies accurate, current, and consistently applied, this agent reduces compliance risk, strengthens audit readiness, and improves operational efficiency. Accounts payable teams gain clear visibility into the status of every record and confidence that retention obligations are met throughout the document lifecycle.
Accuracy
TBD
Speed
TBD
Sample of data set required for Retention Compliance Agent:
Document Type: Vendor Invoice Ingestion Source: AP-Portal-Upload Processing Timestamp: 2023-11-16T10:30:00Z
Invoice Details:
Line Item Breakdown:
Internal GL Coding:
Sample output delivered by the Retention Compliance Agent:
Document Retention Policy Assignment Report
Report Generated: 2023-11-16T10:30:15Z Document ID: INV-2023-491102
1. Document Summary
A retention policy has been automatically applied to the following document:
The appropriate retention policy was determined based on the following document attributes:
FIN-POL-004.FIN-RET-CAPEX-INTL-10YFIN-POL-004The following tags have been permanently applied to the document record:
| Tag Name | Value | Description |
|---|---|---|
RetentionPolicyID |
FIN-RET-CAPEX-INTL-10Y | The unique identifier for the assigned policy. |
RecordType |
Accounts Payable - Asset | Classifies the document for search and audit. |
DestructionDate |
2034-12-31 | The scheduled date for secure document destruction. |
ComplianceFlag |
SOX, AO-147 | Indicates the relevant regulations governing this record. |
LegalHold |
False |
Default status indicating no active legal holds. |
SUCCESS: The document has been successfully processed, tagged, and filed in accordance with all applicable internal and external retention regulations. The record is now audit-ready.
Generates compliant regulatory filings and vendor notifications for 1099 and escheatment, reducing manual effort and ensuring accuracy.
Validates AP and P-Card transactions against policies, thresholds, and documentation rules, surfacing noncompliance and accelerating period-end close.
Validates, normalizes, and consolidates AP data to ensure accurate and reliable period-end close reporting.
Continuously monitors AP transactions to detect anomalies, duplicates, and high-risk patterns, enabling faster intervention and a smoother financial close.
Analyzes AP KPIs and trends to generate executive-ready performance narratives and insight summaries.
Identifies, categorizes, and prioritizes unresolved AP exceptions, enabling timely resolution, stronger compliance, and smoother financial close.