FAS system is the enterprise finance and accounting (F&A) system, where the financial data of an enterprise resides. FAS maintains all the data related to accounts payables and accounts receivables in the enterprise.
FAS maintains all the books and ledgers on a digital platform, in a manner similar to a manual scenario, such that they are readily auditable. It records all the assets, liabilities, and operational data digitally and in real-time.
FAS automation is the process of updating all the transactions on a fast track. It involves mapping and synchronizing the records with different enterprise systems used for Customer Relationship Management (CRM), Inventory Management, etc.