Finances and accounting are critical parts of every business. Can you imagine running a business without having to run accounts payable processes? <\/span><\/p>\n But the actual task of running these highly detailed yet redundant work processes can be time-consuming and daunting when done via manual processes.<\/span><\/p>\n AP automation<\/a> is the next natural step that businesses take to make their accounts payable processes more efficient and cost-effective. <\/span>Streamlining AP processes with accounts payable automation solutions has genuinely revolutionized how business transactions are carried out, especially regarding payroll, purchase orders, and paper invoices.<\/p>\n If you feel like it’s time you got on the bandwagon, too, read on as we share more about AP automation and how it’s changing the future of work.<\/span><\/p>[\/et_pb_text][et_pb_text _builder_version=”4.9.4″ header_6_text_color=”#202657″ header_6_font_size=”23px” custom_margin=”0px||5px||false|false” custom_padding=”0px||0px||false|false”] So how does AP automation software work? <\/span><\/p>\n Essentially, it uses tools like enterprise resource planning (ERP) software to remove the bottlenecks of manual tasks through automation- to digitize supplier invoices, the approval process, and payment processing.<\/span><\/p>\n An ERP system can do this through technology such as optical character recognition (OCR), artificial intelligence (AI), and machine learning (ML).<\/span><\/p>\n Business process automation<\/a> (BPA) makes approval workflows much simpler for your AP team by eliminating manual data entry through automatic data capture, routing of documents and payments, and keeping a digital audit trail of the entire paperless process.<\/span><\/p>\n Thus, your AP department and accounting system are vastly more efficient. The previously manual invoice management system is digitized, cash flow and e-invoicing occur much faster, and all relevant data is stored securely. <\/span><\/p>[\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][et_pb_row_inner _builder_version=”4.9.4″ custom_padding=”0px||0px||false|false”][et_pb_column_inner saved_specialty_column_type=”3_4″ _builder_version=”4.4.7″][et_pb_text _builder_version=”4.9.4″ header_6_text_color=”#202657″ header_6_font_size=”23px” custom_margin=”0px||5px||false|false” custom_padding=”20px||0px||false|false”] Still on the fence about AP automation? Wondering if skipping the paper checks is worth the trouble of onboarding a new technology? Allow us to give you the bottom line for your accounts payable department. <\/span><\/p>\n Cost Savings<\/b><\/p>\n The most crucial benefit is significant long-term cost savings. Think about all the errors that manual AP processes cause that result in re-work and late charges. According to eLabs, ab<\/span>out 61% of all late payments are caused because of incorrect invoices.<\/p>\n Not only does AP automation help you avoid that, but you could also be eligible for early payment discounts.<\/span><\/p>\n Time Savings<\/b><\/p>\n Time is money when you’re running a business. Every minute wasted on manual invoicing could be saved when you have an automated AP system. <\/span><\/p>\n Not only does automation bring invoice approval and the pay process far close to real-time, but it also frees your staff to focus on other tasks that drive growth for the business. <\/span><\/p>\n Better Insight<\/b><\/p>\n With a fully digital process, you have access to invoice data for the entire invoice workflow. You can quickly pinpoint additional areas for improvement with the reporting data provided by your tool. <\/span><\/p>\n With manual AP systems, you have little visibility into the process itself, let alone data on how well (or not well) the AP workflow is optimized. <\/span><\/p>\n Built-In Compliance<\/b><\/p>\n With strict data policies and regulations increasing for many industries, businesses must find a way to efficiently incorporate compliance and risk management into their business and their processes. Most ERP systems provide built-in compliance features to help make this change easier.<\/span><\/p>\n Try conducting a simple cost-benefit analysis if you want to figure out how much AP automation can help your business. The expected ROI from your AP automation solution can be more or less estimated by considering the factors such as:<\/span><\/p>\n The possible invoice processing cost reductions<\/p>\n You should also consider the other benefits that AP automation brings, such as increased employee satisfaction levels, easy auditing capabilities, the establishment of streamlined processes, and improved business relationships.<\/span><\/p>[\/et_pb_text][et_pb_text _builder_version=”4.9.4″ _module_preset=”default” header_6_text_color=”#202657″ header_6_font_size=”23px”] The exact solution, or combination of solutions, for your company, depends on your business model and unique methodologies.<\/span><\/p>\n So, when you look for an AP automation solution, you need first to analyze what kind of functionalities and invoicing features you would require and choose a tool that provides you with the maximum benefits that match your needs and streamlines the operations. <\/span><\/p>\n The tools you choose should be able to satisfy all of your invoice requirements and AP scenarios. Wave can help you evaluate AP automation solutions by auditing your existing systems and processes and determining your exact needs and goals. <\/span><\/p>\n Wave is an industry leader with significant expertise in AP processes, workflow, and collaboration software. Book a consultation<\/a> with us today to see how we can help you improve your business.<\/span><\/p>[\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][et_pb_row_inner _builder_version=”4.4.7″][et_pb_column_inner saved_specialty_column_type=”3_4″ _builder_version=”4.4.7″][et_pb_signup provider=”campaign_monitor” campaign_monitor_list=”CM Wave|44c4d2e05f842680a4476c0759dbe290″ last_name_fullwidth=”off” use_custom_fields=”on” success_message=”We have received your request and one of our experienced consultants will reach out to you shortly.” title=”Request A FREE Consultation” button_text=”Submit” description=” Would you like to learn more about how Wave can help automate your Accounts Payable process?<\/p>\n Here at Wave we have over 20 years of experience in working with growing businesses everyday, helping them by automating processes, streamlining workflows, and migrating to the cloud to increase efficiency and productivity. 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transform_translate_linked_phone=”off” transform_rotate_tablet=”” transform_rotate_phone=”” transform_rotate_last_edited=”on|phone” transform_skew_tablet=”” transform_skew_phone=”” transform_skew_last_edited=”on|phone” transform_origin_tablet=”” transform_origin_phone=”” transform_origin_last_edited=”on|phone” transform_styles_last_edited=”on|phone” width_tablet=”” width_phone=”” width_last_edited=”on|phone” max_width_tablet=”” max_width_phone=”” max_width_last_edited=”on|phone” custom_margin=”|||-81px|false|false” custom_margin_tablet=”|||-284px|false|false” custom_margin_phone=”-45px|83px||-1px|false|false” custom_margin_last_edited=”on|phone” custom_padding_tablet=”|390px|||false|false” custom_padding_phone=”|0px|||false|false” custom_padding_last_edited=”on|phone” transform_styles_tablet=”” transform_styles_phone=””] Subscribe to our newsletter to get the latest updates, events and news at Wave.<\/p>[\/et_pb_text][et_pb_signup provider=”campaign_monitor” campaign_monitor_list=”AM 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US<\/p>[\/et_pb_text][et_pb_social_media_follow icon_color=”#ffffff” use_icon_font_size=”on” icon_font_size=”19px” icon_font_size_tablet=”” icon_font_size_phone=”17px” icon_font_size_last_edited=”on|phone” _builder_version=”4.6.1″ transform_scale_tablet=”” transform_scale_phone=”” transform_scale_last_edited=”on|tablet” transform_translate_tablet=”403px|-263px” transform_translate_phone=”240px|-606px” transform_translate_last_edited=”on|phone” transform_translate_linked_tablet=”off” transform_rotate_tablet=”” transform_rotate_phone=”” transform_rotate_last_edited=”on|tablet” transform_skew_tablet=”” transform_skew_phone=”” transform_skew_last_edited=”on|tablet” transform_origin_tablet=”” transform_origin_phone=”” transform_origin_last_edited=”on|tablet” transform_styles_last_edited=”on|phone” text_orientation=”center” width_tablet=”” width_phone=”30%” width_last_edited=”on|tablet” custom_margin=”|||6px|false|false” custom_margin_tablet=”” custom_margin_phone=”|||0px|false|false” 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custom_padding=”0px||0px||false|false” custom_padding_tablet=”” custom_padding_phone=””][et_pb_row custom_padding_last_edited=”on|desktop” _builder_version=”4.0.3″ custom_padding_tablet=”30px||22px||false|false” custom_padding_phone=””][et_pb_column type=”4_4″ _builder_version=”4.0.3″][et_pb_text _builder_version=”4.0.3″ background_layout=”dark” custom_margin=”0px||0px||false|false” custom_margin_tablet=”” custom_margin_phone=”” custom_margin_last_edited=”on|desktop” custom_padding_tablet=”0px||0px||false|false” custom_padding_phone=”” custom_padding_last_edited=”on|tablet” text_font_size_tablet=”13px” text_font_size_phone=”11px” text_font_size_last_edited=”on|desktop”]\u00a9 All Rights Reserved: 2019 Wave Technology Solutions Group[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]\n<\/span>","protected":false},"excerpt":{"rendered":"","protected":false},"author":2,"featured_media":10820,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"2880","footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nWhat Does Accounts Payable Automation Software Do?<\/b><\/h6>[\/et_pb_text][et_pb_text _builder_version=”4.9.4″ _module_preset=”default” text_font_size=”16px”]
What Are the Benefits of AP Automation?<\/b><\/h6>[\/et_pb_text][et_pb_text _builder_version=”4.9.4″ _module_preset=”default” text_font_size=”16px” hover_enabled=”0″ sticky_enabled=”0″]
\n
How to Implement AP Automation?<\/b><\/h6>[\/et_pb_text][et_pb_text _builder_version=”4.9.4″ _module_preset=”default” text_font_size=”16px”]
Recent Articles<\/h5>\n” content_phone=”\n
Recent Articles<\/h6>\n” content_last_edited=”on|phone” _builder_version=”4.0.3″ text_font=”||||||||” text_line_height=”1.8em” header_font=”||||||||” header_2_font=”Work Sans|700|||||||” header_2_font_size=”35px” header_2_line_height=”1.5em” header_4_text_color=”#202657″ header_5_text_color=”#202657″ header_6_text_color=”#202657″ header_2_font_size_tablet=”30px” header_2_font_size_phone=”20px” header_2_font_size_last_edited=”on|phone” border_color_all=”#1a0a38″ border_width_bottom=”4px” border_color_bottom=”#202657″]
Recent Articles<\/h4>[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”3.25″ custom_padding=”20px|||” custom_padding_tablet=”0px||” custom_padding_phone=”” custom_padding_last_edited=”on|tablet” padding_tablet=”0px||” padding_last_edited=”on|tablet” custom_padding__hover=”|||”][\/et_pb_column][\/et_pb_row][et_pb_row use_custom_gutter=”on” gutter_width=”2″ make_equal=”on” _builder_version=”3.25″ max_width=”1280px” use_custom_width=”on” custom_width_px=”1280px”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_blog fullwidth=”off” posts_number=”3″ include_categories=”65″ show_more=”on” show_categories=”off” show_pagination=”off” offset_number=”1″ _builder_version=”4.0.3″ header_level=”h6″ header_font=”Arial|700|||||||” header_text_color=”#202657″ header_font_size=”23px” header_line_height=”1.2em” body_font=”||||||||” body_text_align=”left” body_font_size=”16px” meta_font=”Arial||||||||” meta_text_color=”#864d6e” meta_line_height=”2em” read_more_line_height=”3em” pagination_font=”||||||||” pagination_font_size=”0px” pagination_line_height=”0em” border_radii=”off|||5px|5px” border_width_all=”0px” border_color_all=”#ffffff” border_width_bottom=”6px” border_color_bottom=”#202657″ border_width_all_fullwidth=”1px” box_shadow_style=”preset3″ locked=”off” body_letter_spacing__hover=”0px” body_letter_spacing__hover_enabled=”0px” body_text_shadow_style__hover=”none” body_text_shadow_style__hover_enabled=”none” body_text_shadow_color__hover=”rgba(0,0,0,0.4)” body_text_shadow_color__hover_enabled=”rgba(0,0,0,0.4)” border_radii__hover=”on||||” border_radii__hover_enabled=”on||||” border_radii_fullwidth__hover=”on||||” border_radii_fullwidth__hover_enabled=”on||||”][\/et_pb_blog][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.0.3″ background_color=”#202657″ min_height=”725px”][et_pb_row _builder_version=”4.0.3″ custom_padding=”||0px|||”][et_pb_column type=”4_4″ _builder_version=”4.0.3″][et_pb_text content_tablet=”” content_phone=”” content_last_edited=”on|phone” _builder_version=”4.0.3″ text_text_color=”#ffffff” header_4_font=”Arial||||||||” header_4_text_color=”#202657″ background_layout=”dark” min_height=”67px” custom_margin=”0px||5px|||” custom_padding=”||0px|||” text_text_color_tablet=”” text_text_color_phone=”#ffffff” text_text_color_last_edited=”on|phone” text_line_height_tablet=”1.7em” text_line_height_phone=”1.6em” text_line_height_last_edited=”on|desktop” header_font_size_tablet=”72px” header_font_size_phone=”” header_font_size_last_edited=”on|tablet” header_line_height_tablet=”” header_line_height_phone=”1em” header_line_height_last_edited=”on|phone”]
LETS CONNECT AND SEE<\/span><\/h4>\n
HOW WE CAN HELP<\/span><\/h4>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.0.3″ custom_padding=”4px|||||”][et_pb_column type=”4_4″ _builder_version=”4.0.3″][et_pb_text _builder_version=”4.0.3″ text_font_size=”16px” text_line_height=”0.5em” background_layout=”dark” min_height=”34px” custom_margin_tablet=”” custom_margin_phone=”||-28px||false|false” custom_margin_last_edited=”on|phone” text_line_height_tablet=”0.7em” text_line_height_phone=”1.6em” text_line_height_last_edited=”on|phone”]
\ninfo@wave-tsg.com<\/a>
\n23441 S. Pointe Drive
\nSuite #110, Laguna Hills
\nCA 92653″ content_phone=”<\/p>\n
info@wave-tsg.com<\/a>
23441 S. Pointe Drive
Suite #110, Laguna Hills
CA 92653<\/p>\n
\ninfo@wave-tsg.com<\/a>
\n23441 S. Pointe Drive
\nSuite #110, Laguna Hills
\nCA 92653[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_5″ _builder_version=”4.0.3″][et_pb_text _builder_version=”4.0.3″ text_font=”|600|||||||” text_text_color=”#202657″ text_font_size=”16px” transform_scale_tablet=”” transform_scale_phone=”” transform_scale_last_edited=”on|tablet” transform_translate_tablet=”” transform_translate_phone=”263px|-227px” transform_translate_last_edited=”on|phone” transform_translate_linked_phone=”off” transform_rotate_tablet=”” transform_rotate_phone=”” transform_rotate_last_edited=”on|tablet” transform_skew_tablet=”” transform_skew_phone=”” transform_skew_last_edited=”on|tablet” transform_origin_tablet=”” transform_origin_phone=”” transform_origin_last_edited=”on|tablet” transform_styles_last_edited=”on|phone” custom_margin_tablet=”|||-50px|false|false” custom_margin_phone=”|||0px|false|false” custom_margin_last_edited=”on|phone” transform_styles_tablet=”” transform_styles_phone=””]
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Open Support Case<\/a><\/span><\/p>[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_5″ _builder_version=”4.0.3″][et_pb_text _builder_version=”4.0.3″ text_font=”|600|||||||” text_text_color=”#202657″ text_font_size=”16px” transform_scale_tablet=”” transform_scale_phone=”” transform_scale_last_edited=”on|phone” transform_translate_tablet=”” transform_translate_phone=”40px|-242px” transform_translate_last_edited=”on|phone” transform_translate_linked_phone=”off” transform_rotate_tablet=”” transform_rotate_phone=”” transform_rotate_last_edited=”on|phone” transform_skew_tablet=”” transform_skew_phone=”” transform_skew_last_edited=”on|phone” transform_origin_tablet=”” transform_origin_phone=”” transform_origin_last_edited=”on|phone” transform_styles_last_edited=”on|phone” width_tablet=”100%” width_phone=”100%” width_last_edited=”on|phone” custom_margin=”|-46px||-80px|false|false” custom_margin_tablet=”|||-285px|false|false” custom_margin_phone=”|||0px|false|false” custom_margin_last_edited=”on|phone” custom_padding=”|0px||0px|false|false” custom_padding_tablet=”” custom_padding_phone=”|0px||0px|false|false” custom_padding_last_edited=”on|phone” transform_styles_tablet=”” transform_styles_phone=””]