How Does Accounts Payable Automation Software Work?

Preparing your AP activities manually slows down your ability to quickly and precisely respond to vendors which results in longer cycles, more expensive processing costs, less authority, and consequently, displeased partners. Wave’s Accounts Payable Automation Solutions for the Riverside area enhances 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.

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

Invoice Capture

Our state-of-the-art invoice capture service receives and resolves invoices from multiple locations. OCR (optical character recognition) identifies and extracts pertinent data, removing the risk of errors and time related to with manual data entry.
Invoice

The invoice processor quickly pinpoints and resolves exceptions, automatically correlates POs, and routes invoices through the acceptance process which can be completed from your desktop or mobile device.
Data Delivery

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

Have operational clarity into your AP workflow through real-time reporting, spend less time and resources, and increase throughput.
Supplier Portal

The supplier portal allows vendors to both load and manage their content, add additional files to enable communication, review the status of invoices or load them directly, and monitor purchase orders. This adds greater efficiency to your internal workflow, enhances supplier relations, and minimizes inquiries, invoice coordinating 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 recurringly cited by users as the greatest perk of an automated workflow, closely followed by expense. In fact, data capture and system efficiencies can better AP processing time by as much as 81% and reduce operational expenses by 92%.

Reduce Costs

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

Boldly automate 90% or more of your AP processes, 3X expense savings in comparison to legacy operations, and 2% savings on yearly expenditures.
No Late Payments

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

Improve compliance with organizational standards and controls.
Simplified Audits

Simplify audits with standardized workflows.
More Control

Experience more control and insight of cash flow.
Vendor Satisfaction

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

Quicker queries and approvals.