How Does Accounts Payable Automation Software Work?

Processing your AP activities manually stalls your ability to quickly and precisely respond to partners which leads to lengthier cycles, higher processing costs, less oversight, and as a result, unhappy merchants. Wave’s Accounts Payable Automation Solutions for the Laredo area enhances the end-to-end AP system. We can work with SAP, Netsuite, Microsoft Dynamics, Oracle, and more with cloud-based Accounts Payable Automation or as an on-premise solution.

Built On State Of The Art Technology And Customized To Your Organization Needs, Wave Accounts Payable Software Delivers:

Invoice Capture

Our state-of-the-art invoice capture service receives and coordinates invoices from multiple locations. OCR (optical character recognition) classifies and pulls out critical data, erasing the propensity for errors and time related to with manual data entry.
Invoice

The invoice processor quickly finds and coordinates exceptions, automatically correlates POs, and routes invoices through the acceptance process which can be processed from your desktop or mobile device.
Data Delivery

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

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

The supplier portal allows merchants to both load and manage their content, add additional files to facilitate communication, review the status of invoices or enter them directly, and look at purchase orders. This adds more efficiency to your internal process, enhances vendor relations, and reduces inquiries, invoice coordinating issues, and total processing time.

AP Automation Benefits

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

Reduce Costs

Reduce expense by eliminating manual data entry and preparing.
Automate Processes

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

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

Improve compliance with organizational policies and controls.
Simplified Audits

Simplify audits with pre-determined workflows.
More Control

Experience greater control and clarity of cash flow.
Vendor Satisfaction

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

More rapid queries and approvals.