How Does Accounts Payable Automation Software Work?

Processing your AP activities manually slows down your ability to quickly and correctly respond to vendors which results in longer cycles, more expensive processing costs, less oversight, and as a result, discontent partners. Wave’s Accounts Payable Automation Solutions for the Durham area streamlines 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.

Built On Best-In-Class 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 places. OCR (optical character recognition) identifies and extracts critical data, removing the possibility of mishaps and time associated with with manual data entry.
Invoice

The invoice processor quickly identifies and resolves exceptions, automatically matches POs, and routes invoices through the confirmation process which can be done from your computer or mobile device.
Data Delivery

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

Gain operational visibility into your AP process through real-time reporting, save time and money, and increase throughput.
Supplier Portal

The supplier portal allows merchants to both input and manage their content, add attachments to facilitate communication, check the condition of invoices or load them directly, and monitor purchase orders. This adds better efficiency to your internal operations, advances merchant relations, and reduces inquiries, invoice matching errors, and overall time to process.

AP Automation Benefits

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

Reduce Costs

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

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

Completely eliminate delayed payments and missed deductions by automating AP.
Improve Compliance

Improve compliance with institutional standards and controls.
Simplified Audits

Simplify audits with recorded processes.
More Control

Experience better control and clarity of spending.
Vendor Satisfaction

Better supplier relations and simplify the experience through self-service portals.
Quicker Actions

More rapid queries and approvals.