How Does Accounts Payable Automation Software Work?

Handling your AP workflows manually stalls your ability to with agility and accurately respond to merchants which leads to lengthier cycles, pricier processing costs, less control, and as a result, displeased vendors. Wave’s Accounts Payable Automation Solutions for the New York area streamlines 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 State Of The Art Technology And Tailored To Your Organization Requirements, Wave Accounts Payable Software Delivers:

Invoice Capture

Our advanced invoice capture capability consumes and coordinates invoices from multiple locations. OCR (optical character recognition) classifies and pulls out critical information, removing the propensity for mistakes and time associated with with manual data entry.
Invoice

The invoice processor expeditiously finds and coordinates exceptions, automatically coordinates POs, and moves 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

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

The supplier portal allows suppliers to both load and manage their information, add additional files to foster communication, review the status of invoices or load them directly, and view purchase orders. This adds greater efficiency to your internal workflow, improves vendor relations, and minimizes inquiries, invoice correlating errors, and overall time to process.

AP Automation Benefits

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

Reduce Costs

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

Fearlessly automate 90% or more of your AP processes, 3X expense savings in comparison to legacy operations, and 2% savings on annual costs.
No Late Payments

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

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

Simplify audits with pre-determined actions.
More Control

Experience greater control and clarity of budgeting.
Vendor Satisfaction

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

Faster queries and approvals.