How Does Accounts Payable Automation Software Work?

Preparing your AP activities manually stalls your ability to with agility and correctly respond to partners which results in longer cycles, more expensive processing costs, less control, and consequently, unhappy merchants. Wave’s Accounts Payable Automation Solutions for the Colorado Springs area streamlines 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.

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

Invoice Capture

Our progressive invoice capture capability ingests and resolves invoices from multiple places. OCR (optical character recognition) classifies and pulls out critical information, eliminating the propensity for errors and time associated with with manual data entry.
Invoice

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

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

Gain operational insight into your AP protocol through real-time reporting, save time and money, and improve output.
Supplier Portal

The supplier portal allows vendors to both enter and manage their content, add attachments to foster communication, review the position of invoices or enter them directly, and monitor purchase orders. This adds better efficiency to your internal workflow, improves merchant relations, and reduces inquiries, invoice coordinating issues, and total processing time.

AP Automation Benefits

According to PayStream Advisors, the total expense related to invoicing is over $40 when processed manually. “Quicker approval of invoices” is frequently cited by users as the most valuable perk of an automated workflow, right behind expense. In fact, data capture and system efficiencies can enhance AP processing time by as much as 81% and minimize operational expenses by 92%.

Reduce Costs

Reduce price by stopping manual data entry and preparing.
Automate Processes

Boldly automate 90% or more of your AP workflows, 3X expense savings compared to legacy 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 administration.
Simplified Audits

Simplify audits with standardized workflows.
More Control

Experience more oversight and clarity of spending.
Vendor Satisfaction

Improve partner relations and simplify the relationship through self-service portals.
Quicker Actions

Faster queries and approvals.