How Does Accounts Payable Automation Software Work?

Processing your AP workflows manually diminishes your ability to quickly and precisely respond to vendors which concludes with longer cycles, pricier processing costs, less control, and subsequently, discontent vendors. Wave’s Accounts Payable Automation Solutions for the Anchorage area streamlines 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.

Designed With Top Notch Technology And Personalized To Your Organization Needs, Wave Accounts Payable Software Delivers:

Invoice Capture

Our advanced invoice capture capability consumes and reconciles invoices from multiple places. OCR (optical character recognition) identifies and extracts critical information, erasing the possibility of mishaps and time related to with manual data entry.
Invoice

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

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

Get operational visibility into your AP workflow through reporting in real-time, improve cost and resource efficiency, and improve yield.
Supplier Portal

The supplier portal allows suppliers to both input and manage their information, add notes to facilitate communication, confirm the position of invoices or input them directly, and monitor purchase orders. This adds better efficiency to your internal operations, enhances supplier relations, and reduces inquiries, invoice coordinating errors, and overall time it takes to process.

AP Automation Benefits

According to PayStream Advisors, the total price for invoicing is over $40 when processed manually. “Quicker approval of invoices” is recurringly cited by users as the greatest perk of an automated system, closely followed by expense. In fact, data capture and system efficiencies can improve AP preparation time by as much as 81% and decrease operational expenses by 92%.

Reduce Costs

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

Boldly automate 90% or more of your AP operations, 3X cost savings compared to legacy workflows, and 2% savings on yearly spending.
No Late Payments

Totally eliminate delayed payments and missed discounts by automating AP.
Improve Compliance

Improve compliance with institutional protocols and administration.
Simplified Audits

Simplify audits with recorded actions.
More Control

Experience greater governance and visibility of cash flow.
Vendor Satisfaction

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

Quicker queries and approvals.