New analyst report recognizes Basware capabilities with
the highest scores possible in the Exception Handling,
Fraud and Risk Management, and Tax Compliance and
Operations criteria.
CHARLOTTE, N.C., July 8, 2024
/PRNewswire/ -- Basware, a global leader in AP automation and
invoice processing, has been recognized as 'a Leader' in The
Forrester Wave™: Accounts Payable Invoice Automation, Q3 2024.
CFOs, business leaders and AP (accounts payable) professionals
have long sought automated invoice processes. But only recently,
with the advent of AI, has there been a significant shift in the
space. Companies must offer superior AI capabilities, greater
automation, and more comprehensive insights into financial and cash
data to attract new customers and retain existing ones.
According to the Forrester report, Basware was named as a leader
in its 31-criterion evaluation. The company received the highest
scores possible across 16 criteria, including Exception Handling,
Fraud and Risk Management, and Tax Compliance and
Operations.
The Forrester Wave™ report states:
"Basware heads the pack with a laser focus on automating the
last mile of AP processes. As the largest specialist provider of
APIA [Accounts Payable Invoice
Automation] software, Basware has established itself as an
APIA powerhouse with customer
obsession, practical innovation, and solid execution. Its pragmatic
product roadmap addresses critical client pain points related to
compliance and fraud management."
AP teams have been battling against external forces in recent
years, such as macro-economic headwinds, the supply chain crunch,
labor market shortages and expanding regulations, putting the
squeeze on resources. To alleviate pressures, AP professionals need
access to cost and time effective technologies that can manage
increasingly complex business operations, support customers and
always remain compliant with global regulations.
Nish Makwana, Finance Manager
at Specsavers (customer of Basware), commented:
"Being recognized as a leader in the Forrester report
confirms the outstanding performance we've experienced as a
customer of Basware's AP automation and Statement Matching
solutions."
In recent months, Basware has furthered its commitment to
innovation and delivering value to customers and the industry
by:
- Partnering with Deloitte to remove manual invoice
processing and accelerate finance transformation
- Acquiring UK-based AP Matching to boost statement
reconciliation
- Launching AP Protect to help protect organizations from
the threat of invoice errors and fraud using AI
Jason Kurtz, CEO
at Basware, commented:
"AP teams are tasked with managing thousands of invoices and
payments every week, often putting a strain on resources and
pushing them to balance speed with compliance. The answer to this
challenge? Unified end-to-end APIA
solutions. The industry has been calling for enhanced automated
solutions to support AP departments, and we're helping our
customers save time and money, while remaining compliant with
ever-changing global regulations. We believe that being named a
leader sets us apart from our competitors. But we're just getting
started, and the best is yet to come."
In 2023, Basware experienced one of its most successful
financial years in its almost 40-year history. It expanded its
market presence and added over 300 customers to its global
portfolio of over 1000+ AP customers. During that period, Basware
handled over 200 million invoices and $900
billion in invoice spend through its platform.
About Basware
Basware is how finance leaders in global enterprises can
finally automate their complex, labor-intensive invoice processes
and stay compliant with regulatory change. Our AP automation and
invoicing platform helps you achieve a new level of efficiency – in
a matter of months – while reducing errors and risks. We bring a
unique combination of true automation, complete coverage, and
deeper expertise to make it all just happen for our customers.
That's why the world's most efficient AP departments at thousands
of companies rely on Basware to handle over 220 million invoices
per year. Basware. Now it all just happens.™
For more information visit: https://www.basware.com/en/
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