How Does Accounts Payable Automation Software Work?

Processing your AP tasks manually diminishes your ability to rapidly and precisely respond to vendors which leads to lengthier cycles, higher processing costs, less control, and consequently, discontent vendors. Wave’s Accounts Payable Automation Solutions for the Denver 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.

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

Invoice Capture

Our progressive invoice capture feature receives and reconciles invoices from multiple locations. OCR (optical character recognition) classifies and extracts critical information, erasing the possibility of mistakes and time associated with with manual data entry.
Invoice

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

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

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

The supplier portal allows vendors to both load and manage their information, add attachments to foster communication, confirm the condition of invoices or enter them directly, and monitor purchase orders. This adds more efficiency to your internal workflow, enhances merchant relations, and minimizes inquiries, invoice matching errors, and total 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 routinely cited by users as the most valuable asset of an automated workflow, right behind price. In fact, data capture and process efficiencies can improve AP preparation time by as much as 81% and decrease operational prices by 92%.

Reduce Costs

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

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

Totally avoid late payments and missed discounts by automating AP.
Improve Compliance

Improve compliance with institutional protocols and controls.
Simplified Audits

Simplify audits with pre-determined workflows.
More Control

Experience greater control and clarity of budgeting.
Vendor Satisfaction

Better partner relations and improve the partnership through self-service portals.
Quicker Actions

Quicker queries and approvals.