How Does Accounts Payable Automation Software Work?

Processing your AP workflows manually diminishes your ability to with agility and precisely respond to partners which results in longer cycles, higher processing costs, less authority, and consequently, unhappy merchants. Wave’s Accounts Payable Automation Solutions for the Gilbert area enhances the end-to-end AP system. We can help 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 Tailored To Your Company Desires, Wave Accounts Payable Software Delivers:

Invoice Capture

Our progressive invoice capture capability consumes and coordinates invoices from multiple sources. OCR (optical character recognition) analyzes and extracts critical data, erasing the possibility of errors and time associated with with manual data entry.
Invoice

The invoice processor quickly identifies and reconciles exceptions, automatically coordinates POs, and moves invoices through the approval process which can be done from your computer or mobile device.
Data Delivery

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

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

The supplier portal allows vendors to both load and manage their content, add additional files to enable communication, confirm the condition of invoices or input them directly, and monitor purchase orders. This adds more efficiency to your internal process, advances merchant relations, and reduces inquiries, invoice matching issues, and overall time to process.

AP Automation Benefits

According to PayStream Advisors, the total cost of invoicing is over $40 when processed manually. “Quicker approval of invoices” is recurringly cited by users as the highest perk of an automated workflow, second to cost. In fact, data capture and workflow efficiencies can better AP preparation time by as much as 81% and decrease operational expenses by 92%.

Reduce Costs

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

Boldly automate 90% or more of your AP operations, 3X expense savings compared to traditional processes, and 2% savings on yearly costs.
No Late Payments

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

Improve compliance with institutional standards and administration.
Simplified Audits

Simplify audits with standardized processes.
More Control

Experience better governance and insight of spending.
Vendor Satisfaction

Enhance supplier relations and improve the partnership through self-service portals.
Quicker Actions

More rapid queries and approvals.