How Does Accounts Payable Automation Software Work?

Preparing your AP workflows manually stalls your ability to quickly and precisely respond to partners which concludes with longer cycles, more expensive processing costs, less oversight, and as a result, displeased vendors. Wave’s Accounts Payable Automation Solutions for the Madison area improves the end-to-end AP system. We can help with SAP, Netsuite, Microsoft Dynamics, Oracle, and more with cloud-based Accounts Payable Automation or as an on-premise solution.

Created with Best-In-Class Technology And Customized To Your Business Needs, Wave Accounts Payable Software Delivers:

Invoice Capture

Our advanced invoice capture service receives and reconciles invoices from multiple locations. OCR (optical character recognition) identifies and derives critical content, eliminating the possibility of mistakes and time resulting from with manual data entry.
Invoice

The invoice processor quickly pinpoints and reconciles exceptions, automatically correlates POs, and moves invoices through the approval process which can be done from your computer or mobile device.
Data Delivery

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

Have operational clarity into your AP protocol through real-time reporting, spend less time and resources, and improve output.
Supplier Portal

The supplier portal allows merchants to both input and manage their content, add notes to facilitate communication, review the condition of invoices or enter them directly, and look at purchase orders. This adds more efficiency to your internal operations, improves merchant relations, and reduces inquiries, invoice correlating problems, and overall processing time.

AP Automation Benefits

According to PayStream Advisors, the total expense related to invoicing is over $40 when processed by hand. “Quicker approval of invoices” is frequently cited by users as the most valuable perk of an automated system, right behind expense. In fact, data capture and system efficiencies can enhance AP processing time by as much as 81% and reduce operational expenses by 92%.

Reduce Costs

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

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

Entirely eliminate past-due payments and missed savings by automating AP.
Improve Compliance

Improve compliance with organizational protocols and administration.
Simplified Audits

Simplify audits with standardized actions.
More Control

Experience better governance and insight of budgeting.
Vendor Satisfaction

Enhance vendor relations and simplify the partnership through self-service portals.
Quicker Actions

Quicker queries and approvals.