How Does Accounts Payable Automation Software Work?

Preparing your AP tasks manually stalls your ability to quickly and precisely respond to merchants which results in longer cycles, higher processing costs, less oversight, and as a result, displeased vendors. Wave’s Accounts Payable Automation Solutions for the Irving area improves the end-to-end AP workflow. 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 Needs, Wave Accounts Payable Software Delivers:

Invoice Capture

Our state-of-the-art invoice capture feature ingests and resolves invoices from multiple sources. OCR (optical character recognition) analyzes and derives important information, erasing the risk of mistakes and time resulting from with manual data entry.
Invoice

The invoice processor rapidly identifies and reconciles exceptions, automatically coordinates POs, and sends invoices through the approval process which can be processed from your desktop or mobile device.
Data Delivery

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

Gain operational clarity into your AP workflow through reporting in real-time, spend less time and resources, and enhance throughput.
Supplier Portal

The supplier portal allows suppliers to both load and manage their data, add additional files to facilitate communication, review the position of invoices or enter them directly, and look at purchase orders. This adds more efficiency to your internal process, enhances merchant relations, and reduces inquiries, invoice coordinating problems, and total time to process.

AP Automation Benefits

According to PayStream Advisors, the total expense related to invoicing is over $40 when processed by hand. “Quicker approval of invoices” is routinely cited by users as the most valuable asset of an automated system, right behind cost. In fact, data capture and workflow efficiencies can better AP handling time by as much as 81% and minimize operational expenses by 92%.

Reduce Costs

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

Boldly automate 90% or more of your AP workflows, 3X budget savings in comparison to conventional workflows, and 2% savings on annual expenditures.
No Late Payments

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

Improve compliance with organizational standards and controls.
Simplified Audits

Simplify audits with recorded processes.
More Control

Experience better governance and clarity of budgeting.
Vendor Satisfaction

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

Faster queries and approvals.