How Does Accounts Payable Automation Software Work?

Handling your AP tasks manually stalls your ability to quickly and precisely respond to merchants which leads to lengthier cycles, more expensive processing costs, less authority, and consequently, displeased merchants. Wave’s Accounts Payable Automation Solutions for the Washington area streamlines the end-to-end AP workflow. We can help with SAP, Netsuite, Microsoft Dynamics, Oracle, and more with cloud-based Accounts Payable Automation or as an on-premise solution.

Built On Best-In-Class Technology And Tailored To Your Business Needs, Wave Accounts Payable Software Delivers:

Invoice Capture

Our progressive invoice capture service consumes and resolves invoices from multiple sources. OCR (optical character recognition) identifies and extracts important information, erasing the propensity for mishaps and time associated with with manual data entry.
Invoice

The invoice processor expeditiously finds and reconciles exceptions, automatically matches POs, and sends invoices through the approval process which can be done from your desktop or mobile device.
Data Delivery

Data delivery universally works with any ERP software including SAP, Oracle, NetSuite, or a private portal.
Analytics

Have operational clarity into your AP protocol through reporting in real-time, spend less time and resources, and enhance output.
Supplier Portal

The supplier portal allows vendors to both load and manage their information, add additional files to facilitate communication, check the status of invoices or input them directly, and look at purchase orders. This adds greater efficiency to your internal process, advances supplier relations, and minimizes inquiries, invoice coordinating issues, and overall processing time.

AP Automation Benefits

According to PayStream Advisors, the total price for invoicing is over $40 when processed manually. “Quicker approval of invoices” is recurringly cited by users as the highest asset of an automated process, closely followed by expense. In fact, data capture and system efficiencies can enhance AP preparation time by as much as 81% and minimize operational expenses by 92%.

Reduce Costs

Reduce expense by eliminating manual data entry and handling.
Automate Processes

Fearlessly automate 90% or more of your AP workflows, 3X cost savings compared to traditional workflows, and 2% savings on annual expenditures.
No Late Payments

Totally avoid past-due payments and missed deductions by automating AP.
Improve Compliance

Improve compliance with company-wide policies and governance.
Simplified Audits

Simplify audits with standardized processes.
More Control

Experience greater oversight and insight of budgeting.
Vendor Satisfaction

Improve partner relations and improve the experience through self-service portals.
Quicker Actions

Faster queries and approvals.