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, higher processing costs, less authority, and consequently, unhappy merchants. Wave’s Accounts Payable Automation Solutions for the Lexington area streamlines 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 Best-In-Class Technology And Tailored To Your Business Requirements, Wave Accounts Payable Software Delivers:

Invoice Capture

Our state-of-the-art invoice capture capability consumes and reconciles invoices from multiple places. OCR (optical character recognition) identifies and pulls out pertinent content, removing the propensity for mistakes and time related to with manual data entry.
Invoice

The invoice processor expeditiously pinpoints and resolves exceptions, automatically correlates POs, and routes invoices through the approval process which can be done from your computer or mobile device.
Data Delivery

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

Have operational insight into your AP process through reporting in real-time, save time and money, and improve yield.
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 greater efficiency to your internal operations, enhances merchant relations, and curtails inquiries, invoice coordinating errors, and overall time it takes 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 recurringly cited by users as the highest perk of an automated process, closely followed by cost. In fact, data capture and workflow efficiencies can enhance AP processing time by as much as 81% and decrease operational expenses by 92%.

Reduce Costs

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

Fearlessly automate 90% or more of your AP operations, 3X cost savings compared to traditional workflows, and 2% savings on annual spending.
No Late Payments

Entirely avoid delayed payments and missed savings by automating AP.
Improve Compliance

Improve compliance with organizational policies and governance.
Simplified Audits

Simplify audits with recorded processes.
More Control

Experience better oversight and insight of budgeting.
Vendor Satisfaction

Better vendor relations and improve the experience through self-service portals.
Quicker Actions

Faster queries and approvals.