How Does Accounts Payable Automation Software Work?

Processing your AP workflows manually diminishes your ability to rapidly and precisely respond to partners which results in longer cycles, higher processing costs, less control, and consequently, discontent partners. Wave’s Accounts Payable Automation Solutions for the Saint Paul area improves the end-to-end AP process. 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 Company Desires, Wave Accounts Payable Software Delivers:

Invoice Capture

Our state-of-the-art invoice capture capability consumes and coordinates invoices from multiple sources. OCR (optical character recognition) identifies and extracts critical information, removing the possibility of mistakes and time related to with manual data entry.
Invoice

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

Data delivery universally integrates with any ERP system including SAP, Oracle, NetSuite, or a customized portal.
Analytics

Get operational insight into your AP workflow through reporting in real-time, improve cost and resource efficiency, and enhance yield.
Supplier Portal

The supplier portal allows suppliers to both enter and manage their data, add additional files to facilitate communication, review the status 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 coordinating errors, 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 routinely cited by users as the most valuable benefit of an automated process, right behind cost. In fact, data capture and workflow efficiencies can better AP handling time by as much as 81% and decrease operational prices by 92%.

Reduce Costs

Reduce price by eliminating manual data entry and preparing.
Automate Processes

Confidently automate 90% or more of your AP operations, 3X cost savings compared to conventional operations, and 2% savings on yearly costs.
No Late Payments

Totally get rid of late payments and missed savings by automating AP.
Improve Compliance

Improve compliance with institutional policies and governance.
Simplified Audits

Simplify audits with pre-determined processes.
More Control

Experience better control and visibility of cash flow.
Vendor Satisfaction

Enhance supplier relations and cut down the relationship through self-service portals.
Quicker Actions

More rapid queries and approvals.