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, more expensive processing costs, less authority, and consequently, displeased merchants. Wave’s Accounts Payable Automation Solutions for the St. Petersburg area streamlines the end-to-end AP workflow. 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 Desires, Wave Accounts Payable Software Delivers:

Invoice Capture

Our progressive invoice capture feature receives and resolves invoices from multiple locations. OCR (optical character recognition) analyzes and derives pertinent data, eliminating the possibility of mishaps and time associated with with manual data entry.
Invoice

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

Data delivery universally integrates with any ERP software including SAP, Oracle, NetSuite, or a private portal.
Analytics

Have operational insight into your AP protocol through real-time reporting, spend less time and resources, and improve yield.
Supplier Portal

The supplier portal allows suppliers to both enter and manage their content, add notes to enable communication, review the position of invoices or enter them directly, and view purchase orders. This adds more efficiency to your internal operations, improves supplier relations, and reduces inquiries, invoice correlating problems, and total processing time.

AP Automation Benefits

According to PayStream Advisors, the total cost of invoicing is over $40 when processed manually. “Quicker approval of invoices” is frequently cited by users as the most valuable perk of an automated system, right behind expense. In fact, data capture and system efficiencies can improve AP handling time by as much as 81% and reduce operational costs by 92%.

Reduce Costs

Reduce cost by stopping manual data entry and preparing.
Automate Processes

Fearlessly automate 90% or more of your AP processes, 3X cost savings as opposed to conventional operations, 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 standards and controls.
Simplified Audits

Simplify audits with recorded processes.
More Control

Experience better oversight and visibility of budgeting.
Vendor Satisfaction

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

Faster queries and approvals.