How Does Accounts Payable Automation Software Work?

Handling your AP workflows manually slows down your ability to quickly and correctly respond to merchants which results in longer cycles, more expensive processing costs, less oversight, and as a result, unhappy merchants. Wave’s Accounts Payable Automation Solutions for the Kansas City 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 State Of The Art Technology And Personalized To Your Business Requirements, Wave Accounts Payable Software Delivers:

Invoice Capture

Our advanced invoice capture feature ingests and reconciles invoices from multiple places. OCR (optical character recognition) classifies and extracts critical data, erasing the risk of errors and time associated with with manual data entry.
Invoice

The invoice processor rapidly pinpoints and coordinates exceptions, automatically matches POs, and sends invoices through the confirmation process which can be done from your computer or mobile device.
Data Delivery

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

Have operational insight into your AP protocol through real-time reporting, save time and money, and improve throughput.
Supplier Portal

The supplier portal allows suppliers to both enter and manage their data, add attachments to foster communication, confirm the position of invoices or load them directly, and view purchase orders. This adds more efficiency to your internal operations, enhances merchant relations, and minimizes inquiries, invoice matching issues, and total processing time.

AP Automation Benefits

According to PayStream Advisors, the total expense related to invoicing is over $40 when processed manually. “Quicker approval of invoices” is frequently cited by users as the greatest asset of an automated system, second to expense. In fact, data capture and system efficiencies can better AP handling time by as much as 81% and minimize operational expenses by 92%.

Reduce Costs

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

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

Completely eliminate past-due payments and missed deductions by automating AP.
Improve Compliance

Improve compliance with organizational policies and controls.
Simplified Audits

Simplify audits with recorded workflows.
More Control

Experience better control and clarity of spending.
Vendor Satisfaction

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

Faster queries and approvals.