How Does Accounts Payable Automation Software Work?

Processing your AP activities manually diminishes your ability to quickly and accurately respond to merchants which leads to lengthier cycles, more expensive processing costs, less authority, and consequently, discontent partners. Wave’s Accounts Payable Automation Solutions for the Virginia Beach area enhances 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 State Of The Art Technology And Customized To Your Business Requirements, Wave Accounts Payable Software Delivers:

Invoice Capture

Our advanced invoice capture feature ingests and reconciles invoices from multiple places. OCR (optical character recognition) analyzes and pulls out important content, eliminating the risk of mistakes and time resulting from with manual data entry.
Invoice

The invoice processor quickly identifies and coordinates exceptions, automatically correlates POs, and sends 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 private portal.
Analytics

Gain operational insight into your AP workflow through reporting in real-time, save time and money, and increase throughput.
Supplier Portal

The supplier portal allows suppliers to both input and manage their data, add notes to foster communication, confirm the position of invoices or load them directly, and monitor purchase orders. This adds more efficiency to your internal operations, enhances vendor relations, and reduces inquiries, invoice correlating issues, and overall processing time.

AP Automation Benefits

According to PayStream Advisors, the total cost of invoicing is over $40 when processed directly. “Quicker approval of invoices” is frequently cited by users as the most valuable perk of an automated process, closely followed by cost. In fact, data capture and workflow efficiencies can better AP processing time by as much as 81% and decrease operational prices by 92%.

Reduce Costs

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

Fearlessly automate 90% or more of your AP operations, 3X expense savings compared to traditional processes, and 2% savings on yearly spending.
No Late Payments

Completely eliminate past-due payments and missed deductions by automating AP.
Improve Compliance

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

Simplify audits with recorded workflows.
More Control

Experience greater governance and clarity of budgeting.
Vendor Satisfaction

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

Faster queries and approvals.