How Does Accounts Payable Automation Software Work?

Handling your AP workflows manually slows down your ability to rapidly and precisely respond to partners which results in longer cycles, higher processing costs, less control, and subsequently, discontent merchants. Wave’s Accounts Payable Automation Solutions for the Cincinnati area enhances 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.

Built On State Of The Art Technology And Personalized To Your Company Requirements, Wave Accounts Payable Software Delivers:

Invoice Capture

Our progressive invoice capture feature consumes and resolves invoices from multiple sources. OCR (optical character recognition) identifies and extracts critical information, erasing the propensity for mistakes and time resulting from with manual data entry.
Invoice

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

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

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

The supplier portal allows merchants to both enter and manage their information, add attachments to facilitate communication, confirm the position of invoices or input them directly, and monitor purchase orders. This adds better efficiency to your internal process, enhances 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 directly. “Quicker approval of invoices” is routinely cited by users as the highest asset of an automated process, second to price. In fact, data capture and process efficiencies can enhance AP handling time by as much as 81% and reduce operational expenses by 92%.

Reduce Costs

Reduce expense by removing manual data entry and preparing.
Automate Processes

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

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

Improve compliance with institutional policies and governance.
Simplified Audits

Simplify audits with recorded processes.
More Control

Experience more governance and clarity of budgeting.
Vendor Satisfaction

Improve supplier relations and improve the relationship through self-service portals.
Quicker Actions

Faster queries and approvals.