How Does Accounts Payable Automation Software Work?

Preparing your AP activities manually slows down your ability to rapidly and accurately respond to vendors which leads to longer cycles, pricier processing costs, less authority, and consequently, unhappy merchants. Wave’s Accounts Payable Automation Solutions for the Indianapolis area enhances 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.

Built On Top Notch Technology And Personalized To Your Organization Desires, Wave Accounts Payable Software Delivers:

Invoice Capture

Our advanced invoice capture feature consumes and resolves invoices from multiple sources. OCR (optical character recognition) classifies and derives important content, eliminating the possibility of errors and time resulting from with manual data entry.
Invoice

The invoice processor expeditiously identifies and resolves exceptions, automatically coordinates POs, and moves invoices through the acceptance process which can be processed from your desktop or mobile device.
Data Delivery

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

Get operational visibility into your AP workflow through reporting in real-time, save time and money, and improve output.
Supplier Portal

The supplier portal allows vendors to both enter and manage their content, add additional files to enable communication, check the status of invoices or input them directly, and view purchase orders. This adds greater efficiency to your internal process, enhances supplier relations, and reduces inquiries, invoice correlating issues, and overall processing time.

AP Automation Benefits

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

Reduce Costs

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

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

Totally get rid of late payments and missed discounts by automating AP.
Improve Compliance

Improve compliance with organizational standards and administration.
Simplified Audits

Simplify audits with pre-determined processes.
More Control

Experience better oversight and visibility of budgeting.
Vendor Satisfaction

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

More rapid queries and approvals.