How Does Accounts Payable Automation Software Work?

Processing your AP tasks manually stalls your ability to rapidly and accurately respond to merchants which results in lengthier cycles, pricier processing costs, less oversight, and subsequently, displeased merchants. Wave’s Accounts Payable Automation Solutions for the Norfolk area improves the end-to-end AP system. We can work with SAP, Netsuite, Microsoft Dynamics, Oracle, and more with cloud-based Accounts Payable Automation or as an on-premise solution.

Created with Best-In-Class Technology And Customized To Your Organization Desires, Wave Accounts Payable Software Delivers:

Invoice Capture

Our progressive invoice capture feature ingests and coordinates invoices from multiple sources. OCR (optical character recognition) analyzes and pulls out pertinent data, erasing the risk of mishaps and time associated with with manual data entry.
Invoice

The invoice processor quickly identifies and resolves exceptions, automatically correlates POs, and routes invoices through the acceptance process which can be processed from your computer or mobile device.
Data Delivery

Data delivery universally incorporates with any ERP software including SAP, Oracle, NetSuite, or a home grown portal.
Analytics

Have operational visibility into your AP workflow through real-time reporting, improve cost and resource efficiency, and improve throughput.
Supplier Portal

The supplier portal allows merchants to both input and manage their data, add attachments to foster communication, check the status of invoices or input them directly, and view purchase orders. This adds greater efficiency to your internal process, advances merchant relations, and curtails inquiries, invoice coordinating problems, and overall time it takes to process.

AP Automation Benefits

According to PayStream Advisors, the total cost of invoicing is over $40 when processed by hand. “Quicker approval of invoices” is recurringly cited by users as the highest asset of an automated system, right behind cost. In fact, data capture and workflow efficiencies can improve AP preparation time by as much as 81% and reduce operational expenses by 92%.

Reduce Costs

Reduce cost by eliminating manual data entry and processing.
Automate Processes

Fearlessly automate 90% or more of your AP workflows, 3X expense savings in comparison to traditional workflows, and 2% savings on yearly costs.
No Late Payments

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

Improve compliance with institutional standards and controls.
Simplified Audits

Simplify audits with recorded actions.
More Control

Experience better control and clarity of spending.
Vendor Satisfaction

Enhance vendor relations and simplify the partnership through self-service portals.
Quicker Actions

More rapid queries and approvals.