How Does Accounts Payable Automation Software Work?

Handling your AP activities manually slows down your ability to rapidly and accurately respond to vendors which results in longer cycles, higher processing costs, less control, and as a result, discontent partners. Wave’s Accounts Payable Automation Solutions for the Lubbock area enhances 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 Tailored To Your Business Needs, Wave Accounts Payable Software Delivers:

Invoice Capture

Our progressive invoice capture capability receives and reconciles invoices from multiple locations. OCR (optical character recognition) analyzes and pulls out critical information, erasing the possibility of errors and time resulting from with manual data entry.
Invoice

The invoice processor expeditiously pinpoints and coordinates exceptions, automatically coordinates POs, and sends invoices through the acceptance 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 home grown portal.
Analytics

Have operational clarity into your AP process through reporting in real-time, save time and money, and improve yield.
Supplier Portal

The supplier portal allows suppliers to both enter and manage their content, add notes to foster communication, review the condition of invoices or input them directly, and look at purchase orders. This adds more efficiency to your internal workflow, advances merchant relations, and minimizes inquiries, invoice correlating errors, and overall processing time.

AP Automation Benefits

According to PayStream Advisors, the total expense related to invoicing is over $40 when processed by hand. “Quicker approval of invoices” is frequently cited by users as the greatest perk of an automated workflow, closely followed by cost. In fact, data capture and workflow efficiencies can enhance AP processing time by as much as 81% and decrease operational costs by 92%.

Reduce Costs

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

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

Completely get rid of delayed payments and missed savings by automating AP.
Improve Compliance

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

Simplify audits with pre-determined processes.
More Control

Experience greater governance and clarity of budgeting.
Vendor Satisfaction

Better vendor relations and simplify the partnership through self-service portals.
Quicker Actions

Quicker queries and approvals.