How Does Accounts Payable Automation Software Work?

Processing your AP tasks manually stalls your ability to rapidly and precisely respond to vendors which leads to longer cycles, pricier processing costs, less control, and as a result, displeased partners. Wave’s Accounts Payable Automation Solutions for the Albuquerque area improves the end-to-end AP process. We can work with SAP, Netsuite, Microsoft Dynamics, Oracle, and more with cloud-based Accounts Payable Automation or as an on-premise solution.

Created with State Of The Art Technology And Tailored To Your Business Needs, Wave Accounts Payable Software Delivers:

Invoice Capture

Our advanced invoice capture service ingests and coordinates invoices from multiple places. OCR (optical character recognition) classifies and pulls out important content, removing the risk of errors and time related to with manual data entry.
Invoice

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

Data delivery universally integrates with any ERP tool including SAP, Oracle, NetSuite, or a home grown portal.
Analytics

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

The supplier portal allows merchants to both load and manage their data, add attachments to enable communication, check the condition of invoices or input them directly, and view purchase orders. This adds more efficiency to your internal operations, advances vendor relations, and curtails inquiries, invoice coordinating errors, and total time to process.

AP Automation Benefits

According to PayStream Advisors, the total price for invoicing is over $40 when processed directly. “Quicker approval of invoices” is recurringly cited by users as the highest asset of an automated workflow, closely followed by cost. In fact, data capture and workflow efficiencies can better AP processing time by as much as 81% and minimize operational costs by 92%.

Reduce Costs

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

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

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

Improve compliance with institutional protocols and administration.
Simplified Audits

Simplify audits with standardized processes.
More Control

Experience greater governance and insight of budgeting.
Vendor Satisfaction

Enhance partner relations and cut down the relationship through self-service portals.
Quicker Actions

Quicker queries and approvals.