How Does Accounts Payable Automation Software Work?

Preparing your AP activities manually slows down your ability to rapidly and correctly respond to merchants which leads to longer cycles, pricier processing costs, less control, and subsequently, discontent vendors. Wave’s Accounts Payable Automation Solutions for the Baton Rouge 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.

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

Invoice Capture

Our state-of-the-art invoice capture feature consumes and resolves invoices from multiple sources. OCR (optical character recognition) analyzes and pulls out important data, erasing the propensity for mistakes and time associated with with manual data entry.
Invoice

The invoice processor quickly pinpoints and reconciles exceptions, automatically matches POs, and routes invoices through the approval process which can be processed from your desktop or mobile device.
Data Delivery

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

Get operational insight into your AP process through reporting in real-time, improve cost and resource efficiency, and increase throughput.
Supplier Portal

The supplier portal allows suppliers to both input and manage their information, add notes to facilitate communication, check the status of invoices or enter them directly, and monitor purchase orders. This adds better efficiency to your internal workflow, advances vendor relations, and reduces 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 manually. “Quicker approval of invoices” is recurringly cited by users as the most valuable benefit of an automated workflow, right behind price. In fact, data capture and process efficiencies can improve AP preparation time by as much as 81% and reduce operational expenses by 92%.

Reduce Costs

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

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

Entirely get rid of delayed payments and missed savings by automating AP.
Improve Compliance

Improve compliance with organizational protocols and administration.
Simplified Audits

Simplify audits with standardized actions.
More Control

Experience greater governance and insight of spending.
Vendor Satisfaction

Enhance vendor relations and simplify the relationship through self-service portals.
Quicker Actions

Quicker queries and approvals.