How Does Accounts Payable Automation Software Work?

Processing your AP workflows manually stalls your ability to rapidly and accurately respond to merchants which concludes with longer cycles, more expensive processing costs, less oversight, and as a result, unhappy partners. Wave’s Accounts Payable Automation Solutions for the Philadelphia area enhances 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.

Built On Best-In-Class Technology And Tailored To Your Organization Requirements, Wave Accounts Payable Software Delivers:

Invoice Capture

Our advanced invoice capture service receives and resolves invoices from multiple places. OCR (optical character recognition) classifies and derives important data, erasing the possibility of mistakes and time resulting from with manual data entry.
Invoice

The invoice processor expeditiously pinpoints and coordinates exceptions, automatically correlates POs, and routes invoices through the acceptance process which can be processed from your desktop or mobile device.
Data Delivery

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

Have operational clarity into your AP protocol through real-time reporting, improve cost and resource efficiency, and enhance throughput.
Supplier Portal

The supplier portal allows merchants to both load and manage their information, add attachments to foster communication, check the status of invoices or load them directly, and monitor purchase orders. This adds more efficiency to your internal operations, improves merchant relations, and curtails inquiries, invoice matching issues, and total processing time.

AP Automation Benefits

According to PayStream Advisors, the total expense related to invoicing is over $40 when processed directly. “Quicker approval of invoices” is routinely cited by users as the highest benefit of an automated process, second to cost. In fact, data capture and workflow efficiencies can improve AP processing time by as much as 81% and decrease operational expenses by 92%.

Reduce Costs

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

Fearlessly automate 90% or more of your AP operations, 3X budget savings in comparison to traditional processes, and 2% savings on yearly expenditures.
No Late Payments

Entirely avoid late payments and missed savings by automating AP.
Improve Compliance

Improve compliance with organizational protocols and administration.
Simplified Audits

Simplify audits with standardized workflows.
More Control

Experience better control and clarity of spending.
Vendor Satisfaction

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

Faster queries and approvals.