How Does Accounts Payable Automation Software Work?

Preparing your AP workflows manually slows down your ability to quickly and accurately respond to partners which concludes with longer cycles, higher processing costs, less authority, and subsequently, discontent partners. Wave’s Accounts Payable Automation Solutions for the Louisville area streamlines the end-to-end AP process. We can support SAP, Netsuite, Microsoft Dynamics, Oracle, and more with cloud-based Accounts Payable Automation or as an on-premise solution.

Built On Best-In-Class Technology And Tailored To Your Organization Desires, Wave Accounts Payable Software Delivers:

Invoice Capture

Our progressive invoice capture capability consumes and resolves invoices from multiple sources. OCR (optical character recognition) identifies and derives critical content, erasing the risk of mistakes and time related to with manual data entry.
Invoice

The invoice processor quickly pinpoints and coordinates exceptions, automatically coordinates POs, and moves invoices through the acceptance process which can be done from your desktop or mobile device.
Data Delivery

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

Gain operational visibility into your AP protocol through reporting in real-time, improve cost and resource efficiency, and enhance output.
Supplier Portal

The supplier portal allows suppliers to both load and manage their content, add additional files to enable communication, review the status of invoices or load them directly, and view purchase orders. This adds greater efficiency to your internal operations, improves merchant relations, and curtails inquiries, invoice coordinating 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 manually. “Quicker approval of invoices” is recurringly cited by users as the greatest benefit of an automated workflow, second to price. In fact, data capture and process efficiencies can improve AP handling time by as much as 81% and minimize operational costs by 92%.

Reduce Costs

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

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

Totally get rid of past-due payments and missed discounts by automating AP.
Improve Compliance

Improve compliance with company-wide protocols and controls.
Simplified Audits

Simplify audits with pre-determined processes.
More Control

Experience greater governance and visibility of cash flow.
Vendor Satisfaction

Better partner relations and improve the relationship through self-service portals.
Quicker Actions

More rapid queries and approvals.