How Does Accounts Payable Automation Software Work?

Processing your AP activities manually stalls your ability to rapidly and precisely respond to merchants which leads to longer cycles, higher processing costs, less control, and as a result, unhappy partners. Wave’s Accounts Payable Automation Solutions for the Detroit area improves 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 Top Notch Technology And Personalized To Your Business Needs, Wave Accounts Payable Software Delivers:

Invoice Capture

Our state-of-the-art invoice capture service ingests and reconciles invoices from multiple locations. OCR (optical character recognition) analyzes and extracts critical data, removing the propensity for errors and time resulting from with manual data entry.
Invoice

The invoice processor rapidly finds and coordinates exceptions, automatically correlates POs, and sends 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

Have operational visibility into your AP protocol through real-time reporting, improve cost and resource efficiency, and improve throughput.
Supplier Portal

The supplier portal allows merchants to both input and manage their content, add additional files to foster communication, confirm the condition of invoices or load them directly, and monitor purchase orders. This adds better efficiency to your internal workflow, advances merchant relations, and minimizes inquiries, invoice coordinating problems, and total processing time.

AP Automation Benefits

According to PayStream Advisors, the total cost of invoicing is over $40 when processed manually. “Quicker approval of invoices” is frequently cited by users as the most valuable asset of an automated process, second to cost. In fact, data capture and workflow efficiencies can enhance AP processing time by as much as 81% and reduce operational costs by 92%.

Reduce Costs

Reduce expense by stopping manual data entry and handling.
Automate Processes

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

Entirely avoid late payments and missed discounts by automating AP.
Improve Compliance

Improve compliance with institutional standards and controls.
Simplified Audits

Simplify audits with recorded workflows.
More Control

Experience better governance and insight of cash flow.
Vendor Satisfaction

Enhance supplier relations and simplify the relationship through self-service portals.
Quicker Actions

Faster queries and approvals.