How Does Accounts Payable Automation Software Work?

Preparing your AP activities manually slows down your ability to with agility and correctly respond to merchants which concludes with lengthier cycles, pricier processing costs, less control, and subsequently, discontent vendors. Wave’s Accounts Payable Automation Solutions for the Orlando area streamlines the end-to-end AP workflow. We can work with SAP, Netsuite, Microsoft Dynamics, Oracle, and more with cloud-based Accounts Payable Automation or as an on-premise solution.

Built On Best-In-Class Technology And Tailored To Your Company Desires, Wave Accounts Payable Software Delivers:

Invoice Capture

Our advanced invoice capture service receives and coordinates invoices from multiple locations. OCR (optical character recognition) identifies and derives important content, erasing the propensity for mishaps and time related to with manual data entry.
Invoice

The invoice processor rapidly finds and reconciles exceptions, automatically correlates POs, and sends invoices through the confirmation process which can be done 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

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

The supplier portal allows merchants to both input and manage their data, add attachments to foster communication, confirm the position of invoices or enter them directly, and look at purchase orders. This adds better efficiency to your internal process, advances vendor relations, and curtails inquiries, invoice correlating errors, and overall 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 recurringly cited by users as the most valuable benefit of an automated system, second to price. In fact, data capture and process efficiencies can improve AP preparation time by as much as 81% and decrease operational expenses by 92%.

Reduce Costs

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

Fearlessly automate 90% or more of your AP workflows, 3X cost savings in comparison to legacy workflows, and 2% savings on annual expenditures.
No Late Payments

Entirely eliminate delayed payments and missed deductions by automating AP.
Improve Compliance

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

Simplify audits with pre-determined actions.
More Control

Experience more control and insight of budgeting.
Vendor Satisfaction

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

More rapid queries and approvals.