How Does Accounts Payable Automation Software Work?

Handling your AP tasks manually slows down your ability to with agility and precisely respond to vendors which results in longer cycles, higher processing costs, less control, and consequently, displeased vendors. Wave’s Accounts Payable Automation Solutions for the Tampa area enhances the end-to-end AP process. We can work with SAP, Netsuite, Microsoft Dynamics, Oracle, and more with cloud-based Accounts Payable Automation or as an on-premise solution.

Designed With Best-In-Class Technology And Customized To Your Company Requirements, Wave Accounts Payable Software Delivers:

Invoice Capture

Our progressive invoice capture service ingests and resolves invoices from multiple locations. OCR (optical character recognition) analyzes and extracts critical information, removing the propensity for mistakes and time related to with manual data entry.
Invoice

The invoice processor rapidly identifies and reconciles exceptions, automatically correlates POs, and moves invoices through the confirmation process which can be done from your computer or mobile device.
Data Delivery

Data delivery universally works with any ERP tool 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 yield.
Supplier Portal

The supplier portal allows suppliers to both input and manage their data, add notes to enable communication, check the position of invoices or load them directly, and monitor purchase orders. This adds greater efficiency to your internal workflow, improves supplier relations, and reduces inquiries, invoice correlating problems, and total time it takes to process.

AP Automation Benefits

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

Reduce Costs

Reduce price by removing manual data entry and handling.
Automate Processes

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

Entirely get rid of past-due payments and missed deductions by automating AP.
Improve Compliance

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

Simplify audits with recorded processes.
More Control

Experience better governance and visibility of budgeting.
Vendor Satisfaction

Enhance partner relations and cut down the partnership through self-service portals.
Quicker Actions

Quicker queries and approvals.