Neither wave or QM theory does a thorough job of explaining the observed effects of electromagnetic energy interacting with matter. Wave theory is generally more useful when dealing with propagation, refraction, reflection and diffraction through and around material objects. QM is generally more useful when electromagnetic energy interacts with matter and energy is exchanged. They're both incomplete models of what happens in nature. Use the one which works best to explain a given phenomena. Or come up with more complete unified model if you can. Lots of luck. It's not like others haven't tried with varying degrees of success but the results are generally are too cumbersome to be useful.