How Does Accounts Payable Automation Software Work?

Processing your AP activities manually diminishes your ability to quickly and correctly respond to vendors which results in longer cycles, higher processing costs, less authority, and subsequently, displeased partners. Wave’s Accounts Payable Automation Solutions for the Baltimore area improves 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 Personalized To Your Company Needs, Wave Accounts Payable Software Delivers:

Invoice Capture

Our advanced invoice capture feature receives and coordinates invoices from multiple locations. OCR (optical character recognition) identifies and pulls out important information, eliminating the propensity for mishaps and time resulting from with manual data entry.
Invoice

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

Data delivery universally incorporates with any ERP tool 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 improve output.
Supplier Portal

The supplier portal allows merchants to both input and manage their content, add notes to facilitate communication, review the position of invoices or enter them directly, and monitor purchase orders. This adds greater efficiency to your internal process, improves merchant relations, and curtails inquiries, invoice coordinating problems, and total time to process.

AP Automation Benefits

According to PayStream Advisors, the total cost of invoicing is over $40 when processed manually. “Quicker approval of invoices” is routinely cited by users as the highest perk of an automated process, right behind expense. In fact, data capture and system efficiencies can better AP preparation time by as much as 81% and decrease operational costs by 92%.

Reduce Costs

Reduce cost by stopping manual data entry and preparing.
Automate Processes

Boldly automate 90% or more of your AP processes, 3X cost savings in comparison to conventional workflows, and 2% savings on yearly costs.
No Late Payments

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

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

Simplify audits with pre-determined processes.
More Control

Experience more oversight and insight of budgeting.
Vendor Satisfaction

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

Faster queries and approvals.