How Does Accounts Payable Automation Software Work?

Preparing your AP activities manually slows down your ability to rapidly and correctly respond to merchants which concludes with longer cycles, pricier processing costs, less control, and as a result, displeased vendors. Wave’s Accounts Payable Automation Solutions for the Cleveland area enhances the end-to-end AP process. We can support SAP, Netsuite, Microsoft Dynamics, Oracle, and more with cloud-based Accounts Payable Automation or as an on-premise solution.

Designed With Top Notch Technology And Personalized To Your Business Requirements, Wave Accounts Payable Software Delivers:

Invoice Capture

Our state-of-the-art invoice capture service consumes and resolves invoices from multiple places. OCR (optical character recognition) classifies and derives critical data, removing the possibility of mistakes and time related to with manual data entry.
Invoice

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

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

Gain operational visibility into your AP workflow through real-time reporting, spend less time and resources, and increase output.
Supplier Portal

The supplier portal allows suppliers to both load and manage their data, add notes to enable communication, confirm the status of invoices or enter them directly, and look at purchase orders. This adds better efficiency to your internal workflow, improves merchant relations, and minimizes inquiries, invoice matching issues, and overall processing time.

AP Automation Benefits

According to PayStream Advisors, the total cost of invoicing is over $40 when processed directly. “Quicker approval of invoices” is frequently cited by users as the highest benefit of an automated system, closely followed by price. In fact, data capture and process efficiencies can better AP preparation time by as much as 81% and reduce operational prices by 92%.

Reduce Costs

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

Confidently automate 90% or more of your AP processes, 3X expense savings in comparison to legacy workflows, and 2% savings on yearly expenditures.
No Late Payments

Entirely get rid of past-due payments and missed deductions by automating AP.
Improve Compliance

Improve compliance with company-wide protocols and governance.
Simplified Audits

Simplify audits with standardized processes.
More Control

Experience better control and insight of cash flow.
Vendor Satisfaction

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

Faster queries and approvals.