How Does Accounts Payable Automation Software Work?

Processing your AP workflows manually stalls your ability to rapidly and correctly respond to merchants which results in lengthier cycles, pricier processing costs, less control, and subsequently, unhappy partners. Wave’s Accounts Payable Automation Solutions for the Miami 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.

Created with Top Notch Technology And Tailored To Your Company Requirements, Wave Accounts Payable Software Delivers:

Invoice Capture

Our state-of-the-art invoice capture feature receives and coordinates invoices from multiple sources. OCR (optical character recognition) analyzes and extracts pertinent data, erasing the propensity for mishaps and time related to with manual data entry.
Invoice

The invoice processor quickly identifies and reconciles exceptions, automatically matches POs, and moves invoices through the approval process which can be completed from your computer or mobile device.
Data Delivery

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

Gain operational insight into your AP process through real-time reporting, improve cost and resource efficiency, and improve yield.
Supplier Portal

The supplier portal allows vendors to both enter and manage their information, add notes to foster communication, confirm the status of invoices or enter them directly, and look at purchase orders. This adds greater efficiency to your internal operations, improves vendor relations, and minimizes inquiries, invoice matching errors, and overall processing time.

AP Automation Benefits

According to PayStream Advisors, the total price for invoicing is over $40 when processed manually. “Quicker approval of invoices” is recurringly cited by users as the greatest perk of an automated system, closely followed by price. In fact, data capture and process efficiencies can improve AP processing time by as much as 81% and minimize operational prices by 92%.

Reduce Costs

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

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

Totally avoid delayed payments and missed discounts by automating AP.
Improve Compliance

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

Simplify audits with recorded workflows.
More Control

Experience better control and visibility of cash flow.
Vendor Satisfaction

Improve vendor relations and cut down the relationship through self-service portals.
Quicker Actions

Faster queries and approvals.