How Does Accounts Payable Automation Software Work?

Handling your AP tasks manually stalls your ability to with agility and correctly respond to partners which leads to longer cycles, higher processing costs, less oversight, and as a result, discontent merchants. Wave’s Accounts Payable Automation Solutions for the Milwaukee area improves 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.

Created with Best-In-Class Technology And Customized To Your Organization Desires, Wave Accounts Payable Software Delivers:

Invoice Capture

Our progressive invoice capture feature ingests and resolves invoices from multiple sources. OCR (optical character recognition) analyzes and derives pertinent data, removing the possibility of mistakes and time resulting from with manual data entry.
Invoice

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

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

Gain operational insight into your AP workflow through reporting in real-time, spend less time and resources, and increase yield.
Supplier Portal

The supplier portal allows suppliers to both enter and manage their data, add attachments to enable communication, review the condition of invoices or load them directly, and monitor purchase orders. This adds more efficiency to your internal workflow, advances vendor relations, and reduces inquiries, invoice matching 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 frequently cited by users as the most valuable asset of an automated workflow, closely followed by expense. In fact, data capture and system efficiencies can improve AP handling time by as much as 81% and decrease operational prices by 92%.

Reduce Costs

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

Confidently automate 90% or more of your AP processes, 3X budget savings as opposed to conventional operations, and 2% savings on yearly costs.
No Late Payments

Completely eliminate past-due payments and missed discounts by automating AP.
Improve Compliance

Improve compliance with company-wide policies and governance.
Simplified Audits

Simplify audits with standardized actions.
More Control

Experience greater control and visibility of spending.
Vendor Satisfaction

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

More rapid queries and approvals.