How Does Accounts Payable Automation Software Work?

Processing your AP tasks manually diminishes your ability to quickly and precisely respond to partners which concludes with longer cycles, more expensive processing costs, less control, and as a result, discontent vendors. Wave’s Accounts Payable Automation Solutions for the Newark 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.

Designed With Top Notch Technology And Tailored To Your Organization Needs, Wave Accounts Payable Software Delivers:

Invoice Capture

Our progressive invoice capture feature ingests and reconciles invoices from multiple sources. OCR (optical character recognition) classifies and derives important information, erasing the possibility of mistakes and time resulting from with manual data entry.
Invoice

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

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

Have operational clarity into your AP workflow through real-time reporting, save time and money, and enhance yield.
Supplier Portal

The supplier portal allows merchants to both enter and manage their data, add additional files to facilitate communication, check the condition of invoices or enter them directly, and monitor purchase orders. This adds greater efficiency to your internal workflow, improves vendor relations, and curtails inquiries, invoice correlating problems, and total time to process.

AP Automation Benefits

According to PayStream Advisors, the total cost of invoicing is over $40 when processed directly. “Quicker approval of invoices” is recurringly cited by users as the highest asset of an automated process, right behind cost. In fact, data capture and workflow efficiencies can improve AP preparation time by as much as 81% and reduce operational expenses by 92%.

Reduce Costs

Reduce cost by eliminating manual data entry and handling.
Automate Processes

Boldly automate 90% or more of your AP workflows, 3X budget savings as opposed to conventional operations, and 2% savings on yearly expenditures.
No Late Payments

Entirely avoid past-due payments and missed deductions by automating AP.
Improve Compliance

Improve compliance with company-wide policies and governance.
Simplified Audits

Simplify audits with standardized workflows.
More Control

Experience more control and visibility of spending.
Vendor Satisfaction

Better supplier relations and simplify the experience through self-service portals.
Quicker Actions

Quicker queries and approvals.