Basware
UnclaimedGlobal leader in AI-powered AP automation and cloud-based procure-to-pay solutions.
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TL;DR - Basware
- Automates the entire invoice lifecycle with AI and machine learning for touchless processing.
- Ensures global compliance and provides complete spend visibility across all invoice transactions.
- Integrates with any ERP system, suitable for large enterprises and multi-national organizations.
Pricing: Paid only
Best for: Enterprises & pros
Pros & Cons
Pros
- Achieves high levels of touchless processing (up to 89%) and electronic invoicing (99.7%)
- Significantly reduces manual effort and processing errors through advanced AI/ML
- Ensures comprehensive global compliance across over 50 countries
- Provides deep insights into AP operations and critical KPIs
- Supports complex multi-ERP environments and large transaction volumes
Cons
- Primarily targets large enterprises and organizations with high invoice volumes, potentially less suitable for smaller businesses
- Specific pricing details are not publicly available, requiring direct contact for quotes
Key Features
Intelligent Automation with invoice-centric AI trained on 2.2 billion invoicesEnd-to-end Invoice Lifecycle Management PlatformAutomated matching for PO-based and non-PO-based spendSmartCoding for automated coding of non-PO invoices using machine learningIntelligent routing for speedy processing of invoice exceptions100% invoice capture accuracy with SmartPDF technologyAutomated tax code handling and calculations for global complianceCentralized dashboard for 100% spend visibility
Pricing
Paid
Basware offers paid plans. Visit their website for current pricing details.
About Basware
By Toolradar Team·
Basware provides an Invoice Lifecycle Management Platform that offers complete control over every invoice transaction. It leverages intelligent, invoice-centric AI, trained on over 2.2 billion invoices, to automate tasks and deliver significant ROI. The platform is designed to handle all invoices across the entire lifecycle, consolidating systems and processes for maximum efficiency, compliance, and control.
This solution is ideal for globally operating organizations with high invoice volumes (over 50,000 transactions per year), Finance Shared Service Centers, and businesses operating in multi-ERP environments. It aims to achieve touchless invoice processing, reduce manual effort, ensure compliance with global tax regulations in over 50 countries, and provide 100% spend visibility. Basware's offerings are recognized by industry analysts for their leadership in AI-driven, end-to-end Invoice Lifecycle Management.
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Basware FAQ
How does Basware's SmartCoding feature handle non-PO invoices that have inconsistent historical coding?
SmartCoding uses machine learning to analyze the history of a supplier’s invoices combined with multiple invoice dimensions to generate accurate coding proposals. Even if historical coding has some inconsistencies, the ML model continuously learns and improves its accuracy, and users can define thresholds to maintain control over the final coding decision, ensuring consistency over time.
Can Basware integrate with custom or legacy ERP systems, or is it limited to widely adopted platforms like SAP?
Basware is designed to integrate with any ERP system, not just widely adopted platforms. This flexibility makes it suitable for multi-ERP environments and organizations that may have custom or legacy systems, allowing for consolidation of invoice processes across diverse IT landscapes.
What specific mechanisms does Basware employ to ensure compliance with varying global tax regulations across different countries?
Basware features an end-to-end compliance engine that provides automated tax code handling and calculations. It addresses tax compliance regulations in over 50 countries, offering unique financial assurance capabilities that protect transactions and data integrity, adapting to local requirements like Singapore's GST InvoiceNow.
How does Basware's AI handle situations where an invoice's figures don't perfectly align with the purchase order, especially if the PO was generated in another system?
Basware's AP Automation solution is capable of achieving an unbeatable invoice match rate even when the PO originates from another system or if figures don't perfectly align. Its recognition methods review available data to calculate the best matching scenario, allowing for straight-through processing of PO-based invoices even with minor discrepancies.
For organizations migrating to SAP S/4HANA, how does Basware specifically facilitate AP modernization during this transition?
Basware positions AP modernization as an opportunity during SAP S/4HANA migrations. It offers SAP-native applications that integrate seamlessly, helping organizations achieve a 'Clean Core, Clean AP' by modernizing invoice processing without relying solely on traditional ERP programs, which often overlook AP as a top priority during such transformations.
Source: basware.com