How Does Accounts Payable Automation Software Work?

Preparing your AP workflows manually stalls your ability to with agility and accurately respond to merchants which results in lengthier cycles, more expensive processing costs, less authority, and as a result, unhappy vendors. Wave’s Accounts Payable Automation Solutions for the Chesapeake 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.

Designed With Best-In-Class Technology And Customized To Your Organization Needs, Wave Accounts Payable Software Delivers:

Invoice Capture

Our advanced invoice capture capability receives and resolves invoices from multiple places. OCR (optical character recognition) analyzes and derives pertinent data, removing the risk of mishaps and time related to with manual data entry.
Invoice

The invoice processor expeditiously finds and reconciles exceptions, automatically correlates POs, and routes invoices through the confirmation process which can be done from your computer or mobile device.
Data Delivery

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

Have operational visibility into your AP workflow through real-time reporting, save time and money, and improve throughput.
Supplier Portal

The supplier portal allows suppliers to both load and manage their information, add attachments to foster communication, confirm the position of invoices or load them directly, and view purchase orders. This adds greater efficiency to your internal workflow, improves vendor relations, and curtails inquiries, invoice correlating problems, 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 highest perk of an automated process, right behind expense. In fact, data capture and system efficiencies can better AP preparation time by as much as 81% and minimize operational costs by 92%.

Reduce Costs

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

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

Entirely eliminate late payments and missed discounts by automating AP.
Improve Compliance

Improve compliance with organizational protocols and administration.
Simplified Audits

Simplify audits with standardized processes.
More Control

Experience greater governance and visibility of cash flow.
Vendor Satisfaction

Improve vendor relations and simplify the experience through self-service portals.
Quicker Actions

Quicker queries and approvals.