Basware

21 Oct

Written By Oakstone International

About Basware

Oakstone & Basware

Hires made at Oakstone

Similar companies Oakstone has assisted

About Basware

Basware is a cloud-based purchase-to-pay and e-invoicing solution enabling businesses worldwide to reduce costs, manage spend and forecast growth.

As the industry leader in AP Automation, Basware’s AI/ML-powered solution is designed to make touchless invoice processing a reality for your organisation.

Basware’s artificial intelligence and machine learning functionality is available at every point in the process – from invoice receipt and routing to automated matching and coding – adding value by speeding up tasks and eliminating errors.

Automated matching for PO-based spend: Basware AP Automation enables the use of any combination of invoices, POs, goods receipts, quality checks, contracts, etc., at the line or header level to process PO-based invoices. When information is missing, recognition methods review the available data to calculate the best matching scenario.

Spend Plans for recurring spend: This feature addresses recurring invoices that may not have POs already associated with them. Some examples are rent, utility charges, and mobile phone plans. Basware AP Automation easily learns and identifies recurring invoices and supports the automation of these invoices – whether they are based on schedules, budgets, or amounts.

Automated coding for non-PO spend: SmartCoding is a machine-learning (ML) based solution automating coding for invoices that are not linked to a purchase order (PO) or a payment plan. Based on historical coding and invoice header data, this functionality generates very accurate invoice coding proposals for your non-PO invoices.

Intelligent routing for speedy processing: For any remaining portion of invoice exceptions, our smart routing functionality ensures that invoices are automatically sent to the appointed approval workflow without the need for any manual effort. Based on the data on the invoice, the system automatically determines the recipient and sends the invoice along for coding and processing.

Company Location: HQ in South Carolina, US
Founded by Vesa Tykkylainen in 2022
Number of Employees: 1000 - 1500
Stage: Private