How Does Accounts Payable Automation Software Work?

Preparing your AP activities manually slows down your ability to with agility and accurately respond to merchants which concludes with longer cycles, pricier processing costs, less authority, and as a result, displeased merchants. Wave’s Accounts Payable Automation Solutions for the area improves the end-to-end AP process. We can support SAP, Netsuite, Microsoft Dynamics, Oracle, and more with cloud-based Accounts Payable Automation or as an on-premise solution.

Designed With Top Notch Technology And Tailored To Your Organization Requirements, Wave Accounts Payable Software Delivers:

Invoice Capture

Our progressive invoice capture service consumes and coordinates invoices from multiple sources. OCR (optical character recognition) identifies and pulls out critical data, removing the risk of errors and time associated with with manual data entry.
Invoice

The invoice processor expeditiously finds and reconciles exceptions, automatically correlates POs, and routes invoices through the acceptance 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

Get operational clarity into your AP workflow through reporting in real-time, save time and money, and enhance output.
Supplier Portal

The supplier portal allows merchants to both enter and manage their data, add notes to facilitate communication, confirm the condition of invoices or input them directly, and look at purchase orders. This adds better efficiency to your internal operations, improves merchant relations, and reduces inquiries, invoice matching errors, and overall time it takes to process.

AP Automation Benefits

According to PayStream Advisors, the total price for invoicing is over $40 when processed directly. “Quicker approval of invoices” is frequently cited by users as the highest asset of an automated workflow, right behind cost. In fact, data capture and workflow efficiencies can enhance AP handling time by as much as 81% and decrease operational prices by 92%.

Reduce Costs

Reduce expense by removing manual data entry and preparing.
Automate Processes

Boldly automate 90% or more of your AP operations, 3X budget savings as opposed to traditional workflows, and 2% savings on yearly expenditures.
No Late Payments

Entirely eliminate past-due payments and missed savings by automating AP.
Improve Compliance

Improve compliance with organizational protocols and administration.
Simplified Audits

Simplify audits with recorded workflows.
More Control

Experience better control and visibility of cash flow.
Vendor Satisfaction

Enhance vendor relations and improve the experience through self-service portals.
Quicker Actions

Quicker queries and approvals.