How Does Accounts Payable Automation Software Work?

Preparing your AP activities manually slows down your ability to rapidly and accurately respond to merchants which leads to lengthier cycles, higher processing costs, less authority, and as a result, displeased merchants. Wave’s Accounts Payable Automation Solutions for the WinstonSalem area streamlines the end-to-end AP process. 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 Best-In-Class Technology And Customized To Your Organization Needs, Wave Accounts Payable Software Delivers:

Invoice Capture

Our progressive invoice capture feature receives and reconciles invoices from multiple locations. OCR (optical character recognition) identifies and extracts critical information, removing the propensity for errors and time associated with with manual data entry.
Invoice

The invoice processor expeditiously finds and reconciles 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 incorporates with any ERP tool including SAP, Oracle, NetSuite, or a private portal.
Analytics

Gain operational visibility into your AP process through real-time reporting, save time and money, and increase output.
Supplier Portal

The supplier portal allows merchants to both enter and manage their information, add attachments to facilitate communication, review the condition of invoices or input them directly, and view purchase orders. This adds more efficiency to your internal operations, enhances supplier relations, and curtails inquiries, invoice coordinating errors, and overall time it takes to process.

AP Automation Benefits

According to PayStream Advisors, the total expense related to invoicing is over $40 when processed by hand. “Quicker approval of invoices” is routinely cited by users as the greatest benefit of an automated workflow, right behind cost. In fact, data capture and workflow efficiencies can improve AP handling time by as much as 81% and decrease operational costs by 92%.

Reduce Costs

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

Fearlessly automate 90% or more of your AP processes, 3X budget savings as opposed to traditional processes, and 2% savings on annual expenditures.
No Late Payments

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

Improve compliance with organizational policies and controls.
Simplified Audits

Simplify audits with pre-determined actions.
More Control

Experience more governance and visibility of budgeting.
Vendor Satisfaction

Better partner relations and simplify the relationship through self-service portals.
Quicker Actions

Quicker queries and approvals.