How Does Accounts Payable Automation Software Work?

Preparing your AP activities manually stalls your ability to with agility and correctly respond to partners which leads to longer cycles, more expensive processing costs, less oversight, and as a result, displeased partners. Wave’s Accounts Payable Automation Solutions for the Fremont area enhances the end-to-end AP system. 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 advanced invoice capture feature receives and resolves invoices from multiple locations. OCR (optical character recognition) classifies and extracts pertinent data, eliminating the risk of errors and time related to with manual data entry.
Invoice

The invoice processor quickly finds and coordinates exceptions, automatically coordinates POs, and sends invoices through the confirmation process which can be processed from your computer or mobile device.
Data Delivery

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

Have operational visibility into your AP process through real-time reporting, save time and money, and increase throughput.
Supplier Portal

The supplier portal allows merchants to both input and manage their information, add attachments to facilitate communication, check the condition of invoices or input them directly, and view purchase orders. This adds better efficiency to your internal process, enhances merchant relations, and minimizes inquiries, invoice correlating errors, and overall 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 highest perk of an automated process, right behind price. In fact, data capture and process efficiencies can improve AP processing time by as much as 81% and reduce operational costs by 92%.

Reduce Costs

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

Boldly automate 90% or more of your AP workflows, 3X budget savings in comparison to conventional workflows, and 2% savings on annual costs.
No Late Payments

Totally eliminate past-due payments and missed savings by automating AP.
Improve Compliance

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

Simplify audits with pre-determined processes.
More Control

Experience greater control and clarity of budgeting.
Vendor Satisfaction

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

More rapid queries and approvals.