How Does Accounts Payable Automation Software Work?

Handling your AP workflows manually diminishes your ability to with agility and accurately respond to vendors which results in lengthier cycles, higher processing costs, less oversight, and consequently, unhappy vendors. Wave’s Accounts Payable Automation Solutions for the Minneapolis area streamlines the end-to-end AP system. We can help 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 Personalized To Your Business Needs, Wave Accounts Payable Software Delivers:

Invoice Capture

Our state-of-the-art invoice capture service consumes and resolves invoices from multiple locations. OCR (optical character recognition) analyzes and pulls out important data, removing the propensity for mistakes and time related to with manual data entry.
Invoice

The invoice processor rapidly finds and coordinates exceptions, automatically correlates POs, and moves invoices through the confirmation process which can be processed from your desktop or mobile device.
Data Delivery

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

Have operational clarity into your AP process through reporting in real-time, improve cost and resource efficiency, and increase yield.
Supplier Portal

The supplier portal allows suppliers to both enter and manage their data, add attachments to enable communication, review the condition of invoices or load them directly, and monitor purchase orders. This adds better efficiency to your internal operations, improves supplier relations, and curtails inquiries, invoice matching errors, and overall time it takes to process.

AP Automation Benefits

According to PayStream Advisors, the total expense related to invoicing is over $40 when processed by hand. “Quicker approval of invoices” is routinely cited by users as the greatest perk of an automated process, second to cost. In fact, data capture and workflow efficiencies can enhance AP handling time by as much as 81% and minimize operational prices by 92%.

Reduce Costs

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

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

Completely get rid of delayed payments and missed discounts by automating AP.
Improve Compliance

Improve compliance with organizational protocols and administration.
Simplified Audits

Simplify audits with recorded actions.
More Control

Experience greater oversight and insight of budgeting.
Vendor Satisfaction

Improve partner relations and improve the experience through self-service portals.
Quicker Actions

Faster queries and approvals.