Basware AI & Machine Learning

Description

Basware is a leader in finance automation, specializing in procure-to-pay solutions powered by artificial intelligence and machine learning. The company offers advanced capabilities such as SmartPDF, which captures invoice data with high accuracy, and SmartCoding, which uses machine learning for general ledger coding. Basware's solutions are designed to automate both PO-backed and non-PO invoices, providing a unified platform that eliminates manual processes and reduces processing costs.

The company's AP Automation solution is tailored for enterprises dealing with high volumes of invoices, offering touchless invoice processing and intelligent routing to speed up approval workflows. Basware integrates with over 250 ERP systems, ensuring seamless data flow across different platforms. This integration capability is crucial for organizations with complex multi-ERP environments, allowing them to consolidate AP data and gain comprehensive spend visibility.

Basware's compliance engine covers e-invoicing mandates across 50+ countries, automatically updating the platform to meet regulatory changes. This ensures continuous compliance and financial integrity for global operations. The platform also includes predictive analytics to provide actionable insights, helping finance teams optimize working capital and improve financial control.

Pricing for Basware's solutions is based on a subscription model, with volume commitment tiers offering predictable costs for large organizations. The company also provides a Business Case Calculator to help businesses model their expected ROI. Basware serves over 6,500 customers globally, including industry leaders like DHL and Heineken, and is recognized as a leader in the AP automation market by major analysts.

Basware AI & Machine Learning's Core Features

• SmartPDF for invoice data capture

• Advanced matching for PO and non-PO invoices

• SmartCoding for GL coding

• Predictive analytics for financial insights

• Integration with 250+ ERP systems

• Global e-invoicing compliance

• Touchless invoice processing

• Intelligent routing for approvals

• Continuous compliance updates

• Real-time spend visibility

• Fraud and duplicate payment detection

• Automated VAT code validation

• Supplier network connectivity

• AP performance management with Basware Insights

• AI-powered invoice lifecycle management

How to use Basware AI & Machine Learning?

1. 1

   Configure: Set up integration with ERP systems

2. 2

   Use: Automate invoice processing and approvals

3. 3

   Optimise: Leverage predictive analytics for insights

4. 4

   Ensure Compliance: Stay updated with global mandates

Basware AI & Machine Learning's Use Cases

• Invoice Processing
• Compliance Management
• Financial Insights
• ERP Integration
• Fraud Detection

FAQ from Basware AI & Machine Learning

• How does Basware improve invoice data accuracy?

  Basware uses SmartPDF technology to capture invoice data with high accuracy, reducing manual entry errors.

• What is Basware's approach to AP automation?

  Basware automates both PO-backed and non-PO invoices, providing a unified platform that eliminates manual processes.

• How does Basware ensure compliance with e-invoicing mandates?

  Basware's compliance engine covers mandates across 50+ countries, automatically updating the platform to meet regulatory changes.

• What is SmartCoding in Basware?

  SmartCoding uses machine learning for general ledger coding, automating the process based on historical patterns.

• How does Basware integrate with ERP systems?

  Basware integrates with over 250 ERP systems, ensuring seamless data flow and consolidated spend visibility.

• What is the pricing model for Basware's solutions?

  Basware uses a subscription model with volume commitment tiers, offering predictable costs for large organizations.

• How does Basware handle invoice exceptions?

  Basware automatically identifies and routes exceptions, tracking them to help reduce root causes over time.

• What are the benefits of Basware's AP Automation solution?

  Basware's solution offers touchless invoice processing, intelligent routing, and real-time spend visibility, enhancing efficiency and control.