How Does Accounts Payable Automation Software Work?

Processing your AP tasks manually stalls your ability to rapidly and accurately respond to merchants which results in lengthier cycles, more expensive processing costs, less control, and consequently, unhappy partners. Wave’s Accounts Payable Automation Solutions for the St. Louis area improves the end-to-end AP process. We can support 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 Needs, Wave Accounts Payable Software Delivers:

Invoice Capture

Our state-of-the-art invoice capture feature receives and reconciles invoices from multiple sources. OCR (optical character recognition) classifies and derives important data, erasing the possibility of mistakes and time related to with manual data entry.
Invoice

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

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

Get operational insight into your AP process through reporting in real-time, spend less time and resources, and increase throughput.
Supplier Portal

The supplier portal allows suppliers to both load and manage their content, add attachments to facilitate communication, confirm the position of invoices or enter them directly, and look at purchase orders. This adds greater efficiency to your internal process, improves merchant relations, and reduces inquiries, invoice coordinating problems, and total 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 recurringly cited by users as the highest asset of an automated workflow, right behind cost. In fact, data capture and workflow efficiencies can enhance AP handling time by as much as 81% and reduce operational costs by 92%.

Reduce Costs

Reduce price by removing manual data entry and processing.
Automate Processes

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

Totally avoid past-due payments and missed savings by automating AP.
Improve Compliance

Improve compliance with organizational protocols and governance.
Simplified Audits

Simplify audits with standardized workflows.
More Control

Experience greater control and visibility of cash flow.
Vendor Satisfaction

Enhance supplier relations and improve the experience through self-service portals.
Quicker Actions

Quicker queries and approvals.