How Does Accounts Payable Automation Software Work?

Processing your AP activities manually slows down your ability to rapidly and correctly respond to partners which results in lengthier cycles, higher processing costs, less authority, and subsequently, discontent partners. Wave’s Accounts Payable Automation Solutions for the Long Beach area enhances 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.

Designed With State Of The Art Technology And Personalized To Your Business Desires, Wave Accounts Payable Software Delivers:

Invoice Capture

Our state-of-the-art invoice capture feature consumes and resolves invoices from multiple places. OCR (optical character recognition) classifies and pulls out important information, eliminating the propensity for mishaps and time resulting from with manual data entry.
Invoice

The invoice processor quickly identifies and reconciles exceptions, automatically coordinates 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 insight into your AP workflow through reporting in real-time, spend less time and resources, and increase yield.
Supplier Portal

The supplier portal allows suppliers to both load and manage their data, add attachments to enable communication, review the condition of invoices or input them directly, and look at purchase orders. This adds greater efficiency to your internal workflow, improves vendor relations, and minimizes 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 routinely cited by users as the greatest asset of an automated process, closely followed by cost. In fact, data capture and workflow efficiencies can enhance AP processing time by as much as 81% and decrease operational costs by 92%.

Reduce Costs

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

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

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

Improve compliance with organizational standards and controls.
Simplified Audits

Simplify audits with pre-determined workflows.
More Control

Experience more oversight and visibility of cash flow.
Vendor Satisfaction

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

Quicker queries and approvals.