How Does Accounts Payable Automation Software Work?

Handling your AP tasks manually stalls your ability to quickly and precisely respond to partners which leads to lengthier cycles, higher processing costs, less control, and consequently, discontent vendors. Wave’s Accounts Payable Automation Solutions for the Fort Wayne area improves the end-to-end AP system. We can work with SAP, Netsuite, Microsoft Dynamics, Oracle, and more with cloud-based Accounts Payable Automation or as an on-premise solution.

Designed With Top Notch Technology And Personalized To Your Business Requirements, Wave Accounts Payable Software Delivers:

Invoice Capture

Our progressive invoice capture feature consumes and reconciles invoices from multiple locations. OCR (optical character recognition) analyzes and extracts critical content, removing the risk of mishaps and time resulting from with manual data entry.
Invoice

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

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

Get operational visibility into your AP process through reporting in real-time, spend less time and resources, and enhance throughput.
Supplier Portal

The supplier portal allows suppliers to both input and manage their information, add notes to enable communication, confirm the status of invoices or input them directly, and monitor purchase orders. This adds more efficiency to your internal process, improves vendor relations, and minimizes inquiries, invoice correlating problems, and total time it takes to process.

AP Automation Benefits

According to PayStream Advisors, the total cost of invoicing is over $40 when processed manually. “Quicker approval of invoices” is routinely cited by users as the most valuable asset of an automated workflow, closely followed by price. In fact, data capture and process efficiencies can better AP preparation time by as much as 81% and decrease operational prices by 92%.

Reduce Costs

Reduce expense by eliminating manual data entry and preparing.
Automate Processes

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

Completely avoid late payments and missed deductions by automating AP.
Improve Compliance

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

Simplify audits with standardized workflows.
More Control

Experience more oversight and visibility of spending.
Vendor Satisfaction

Improve supplier relations and improve the partnership through self-service portals.
Quicker Actions

More rapid queries and approvals.