How Does Accounts Payable Automation Software Work?

Handling your AP tasks manually diminishes your ability to quickly and accurately respond to merchants which results in longer cycles, higher processing costs, less authority, and as a result, displeased partners. Wave’s Accounts Payable Automation Solutions for the Stockton area enhances the end-to-end AP workflow. 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 Customized To Your Organization Requirements, Wave Accounts Payable Software Delivers:

Invoice Capture

Our state-of-the-art invoice capture service ingests and resolves invoices from multiple places. OCR (optical character recognition) classifies and extracts pertinent information, removing the possibility of mistakes and time related to with manual data entry.
Invoice

The invoice processor expeditiously identifies and coordinates exceptions, automatically matches POs, and moves invoices through the acceptance process which can be processed from your desktop or mobile device.
Data Delivery

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

Have operational clarity into your AP protocol through reporting in real-time, save time and money, and increase yield.
Supplier Portal

The supplier portal allows suppliers to both input and manage their information, add additional files to facilitate communication, review the condition of invoices or load them directly, and view purchase orders. This adds more efficiency to your internal process, improves supplier relations, and minimizes inquiries, invoice correlating errors, and overall time to process.

AP Automation Benefits

According to PayStream Advisors, the total cost of invoicing is over $40 when processed by hand. “Quicker approval of invoices” is routinely cited by users as the greatest benefit of an automated workflow, closely followed by cost. In fact, data capture and workflow efficiencies can improve AP handling time by as much as 81% and minimize operational costs by 92%.

Reduce Costs

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

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

Completely get rid of late payments and missed savings by automating AP.
Improve Compliance

Improve compliance with organizational policies and governance.
Simplified Audits

Simplify audits with pre-determined actions.
More Control

Experience better oversight and insight of spending.
Vendor Satisfaction

Better supplier relations and cut down the experience through self-service portals.
Quicker Actions

More rapid queries and approvals.