How Does Accounts Payable Automation Software Work?

Processing your AP workflows manually diminishes your ability to with agility and accurately respond to vendors which leads to longer cycles, more expensive processing costs, less control, and subsequently, discontent partners. Wave’s Accounts Payable Automation Solutions for the Honolulu area improves 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.

Created with State Of The Art Technology And Personalized To Your Company Desires, Wave Accounts Payable Software Delivers:

Invoice Capture

Our progressive invoice capture capability ingests and reconciles invoices from multiple places. OCR (optical character recognition) classifies and extracts pertinent information, erasing the possibility of mishaps and time associated with with manual data entry.
Invoice

The invoice processor rapidly identifies and reconciles exceptions, automatically coordinates POs, and moves invoices through the confirmation process which can be processed from your desktop or mobile device.
Data Delivery

Data delivery universally works with any ERP tool including SAP, Oracle, NetSuite, or a home grown portal.
Analytics

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

The supplier portal allows suppliers to both input and manage their information, add notes to facilitate communication, confirm the status of invoices or enter them directly, and monitor purchase orders. This adds better efficiency to your internal workflow, advances vendor relations, and minimizes inquiries, invoice correlating problems, and total processing time.

AP Automation Benefits

According to PayStream Advisors, the total expense related to invoicing is over $40 when processed manually. “Quicker approval of invoices” is routinely cited by users as the greatest benefit of an automated process, closely followed by 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 expense by removing manual data entry and preparing.
Automate Processes

Fearlessly automate 90% or more of your AP workflows, 3X cost savings as opposed to traditional workflows, and 2% savings on yearly expenditures.
No Late Payments

Totally avoid late payments and missed savings by automating AP.
Improve Compliance

Improve compliance with institutional standards and controls.
Simplified Audits

Simplify audits with standardized processes.
More Control

Experience greater control and visibility of budgeting.
Vendor Satisfaction

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

Faster queries and approvals.