How Does Accounts Payable Automation Software Work?

Processing your AP activities manually stalls your ability to rapidly and accurately respond to partners which concludes with longer cycles, pricier processing costs, less authority, and subsequently, discontent merchants. Wave’s Accounts Payable Automation Solutions for the Spokane area streamlines the end-to-end AP process. We can work with SAP, Netsuite, Microsoft Dynamics, Oracle, and more with cloud-based Accounts Payable Automation or as an on-premise solution.

Created with State Of The Art Technology And Tailored To Your Business Desires, Wave Accounts Payable Software Delivers:

Invoice Capture

Our advanced invoice capture feature receives and resolves invoices from multiple places. OCR (optical character recognition) analyzes and pulls out critical content, erasing the risk of errors and time resulting from with manual data entry.
Invoice

The invoice processor quickly identifies and resolves exceptions, automatically correlates POs, and sends invoices through the confirmation process which can be done from your computer or mobile device.
Data Delivery

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

Gain operational clarity into your AP process through reporting in real-time, spend less time and resources, and improve yield.
Supplier Portal

The supplier portal allows vendors to both enter and manage their information, add additional files to foster communication, review the status of invoices or input them directly, and monitor purchase orders. This adds better efficiency to your internal workflow, improves supplier relations, and reduces inquiries, invoice correlating errors, and total time to process.

AP Automation Benefits

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

Reduce Costs

Reduce expense by stopping manual data entry and handling.
Automate Processes

Fearlessly automate 90% or more of your AP processes, 3X cost savings in comparison to legacy processes, and 2% savings on annual spending.
No Late Payments

Completely avoid delayed payments and missed savings by automating AP.
Improve Compliance

Improve compliance with institutional policies and controls.
Simplified Audits

Simplify audits with standardized workflows.
More Control

Experience better control and clarity of cash flow.
Vendor Satisfaction

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

More rapid queries and approvals.