How Does Accounts Payable Automation Software Work?

Processing your AP tasks manually stalls your ability to with agility and accurately respond to partners which concludes with longer cycles, higher processing costs, less authority, and as a result, displeased vendors. Wave’s Accounts Payable Automation Solutions for the Greensboro area enhances the end-to-end AP system. We can support SAP, Netsuite, Microsoft Dynamics, Oracle, and more with cloud-based Accounts Payable Automation or as an on-premise solution.

Built On Top Notch Technology And Tailored To Your Organization Needs, Wave Accounts Payable Software Delivers:

Invoice Capture

Our progressive invoice capture capability consumes and resolves invoices from multiple sources. OCR (optical character recognition) classifies and extracts important data, erasing the propensity for errors and time resulting from with manual data entry.
Invoice

The invoice processor rapidly finds and coordinates exceptions, automatically matches POs, and sends invoices through the confirmation process which can be completed from your computer or mobile device.
Data Delivery

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

Get operational clarity into your AP process through real-time reporting, save time and money, and increase yield.
Supplier Portal

The supplier portal allows suppliers to both input and manage their content, add attachments to enable communication, check the position of invoices or input them directly, and monitor purchase orders. This adds better efficiency to your internal process, improves supplier relations, and minimizes inquiries, invoice correlating errors, and total processing time.

AP Automation Benefits

According to PayStream Advisors, the total expense related to invoicing is over $40 when processed manually. “Quicker approval of invoices” is recurringly cited by users as the highest perk of an automated process, second to expense. In fact, data capture and system efficiencies can improve AP handling time by as much as 81% and decrease operational expenses by 92%.

Reduce Costs

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

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

Entirely avoid past-due payments and missed discounts by automating AP.
Improve Compliance

Improve compliance with company-wide standards and administration.
Simplified Audits

Simplify audits with pre-determined actions.
More Control

Experience better control and clarity of spending.
Vendor Satisfaction

Improve supplier relations and improve the partnership through self-service portals.
Quicker Actions

Quicker queries and approvals.