How Does Accounts Payable Automation Software Work?

Handling your AP tasks manually slows down your ability to rapidly and precisely respond to vendors which results in longer cycles, higher processing costs, less control, and as a result, displeased partners. Wave’s Accounts Payable Automation Solutions for the Toledo area streamlines 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.

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

Invoice Capture

Our advanced invoice capture feature consumes and coordinates invoices from multiple locations. OCR (optical character recognition) classifies and pulls out important content, eliminating the possibility of mishaps and time related to with manual data entry.
Invoice

The invoice processor expeditiously finds and reconciles exceptions, automatically correlates POs, and routes invoices through the confirmation process which can be done from your computer or mobile device.
Data Delivery

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

Gain operational insight into your AP protocol through reporting in real-time, spend less time and resources, and enhance yield.
Supplier Portal

The supplier portal allows merchants to both enter and manage their information, add additional files to facilitate communication, confirm the status of invoices or load them directly, and monitor purchase orders. This adds more efficiency to your internal process, enhances vendor relations, and minimizes inquiries, invoice correlating issues, and overall time it takes to process.

AP Automation Benefits

According to PayStream Advisors, the total price for invoicing is over $40 when processed directly. “Quicker approval of invoices” is recurringly cited by users as the most valuable perk of an automated workflow, right behind 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 cost by removing manual data entry and handling.
Automate Processes

Fearlessly automate 90% or more of your AP workflows, 3X expense savings as opposed to traditional processes, and 2% savings on annual spending.
No Late Payments

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

Improve compliance with institutional policies and controls.
Simplified Audits

Simplify audits with recorded workflows.
More Control

Experience more governance and clarity of spending.
Vendor Satisfaction

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

More rapid queries and approvals.