How Does Accounts Payable Automation Software Work?

Processing your AP workflows manually stalls your ability to quickly and precisely respond to merchants which results in lengthier cycles, more expensive processing costs, less oversight, and as a result, unhappy merchants. Wave’s Accounts Payable Automation Solutions for the Austin area improves 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.

Built On State Of The Art Technology And Personalized To Your Organization Needs, Wave Accounts Payable Software Delivers:

Invoice Capture

Our advanced invoice capture service ingests and coordinates invoices from multiple places. OCR (optical character recognition) classifies and pulls out pertinent data, eliminating the possibility of mistakes and time related to with manual data entry.
Invoice

The invoice processor expeditiously finds and coordinates exceptions, automatically coordinates POs, and routes invoices through the approval process which can be completed from your desktop or mobile device.
Data Delivery

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

Get operational visibility into your AP workflow through real-time reporting, spend less time and resources, and increase output.
Supplier Portal

The supplier portal allows suppliers to both input and manage their information, add attachments to facilitate communication, review the condition of invoices or enter them directly, and view purchase orders. This adds better efficiency to your internal process, improves supplier relations, and curtails inquiries, invoice correlating errors, 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 perk of an automated workflow, right behind price. In fact, data capture and process efficiencies can improve AP preparation time by as much as 81% and minimize operational expenses by 92%.

Reduce Costs

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

Fearlessly automate 90% or more of your AP workflows, 3X expense savings in comparison to legacy workflows, and 2% savings on annual expenditures.
No Late Payments

Totally eliminate past-due payments and missed discounts by automating AP.
Improve Compliance

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

Simplify audits with recorded actions.
More Control

Experience more control and visibility of spending.
Vendor Satisfaction

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

More rapid queries and approvals.