B2B Payments

Basware Bolsters Invoice Processing With Machine Learning

eInvoicing

Finnish software firm Basware has announced an upgrade of its accounts payable (AP) automation solution to allow increased functionality for invoicing.

Basware said its new AP Pro has a new user interface and more advanced options, according to an April 20 press release, which said the updates were made based on feedback to the previous versions.

The new tech will accelerate invoice payment and incorporate a new dashboard that will be a “one stop shop” for important accounts payable tasks, letting users track invoices and keep up with workloads. It will also allow for better organization that can help tasks get done quicker.

Using machine learning and artificial intelligence (AI), the updated AP Pro will also heighten the ability to process bottlenecks and late payments, “enabling clients to accelerate payments to certain key suppliers during these challenging times,” the company said.

“AP Pro delivers a completely new user interface allowing easy tracking of invoices in all stages of processing,” said Basware Director of AP Automation Products Olav Maas. “Submitting, processing, and paying invoices electronically is easier and faster with AP Pro. It means less paper, decreased handling of physical documents, and fewer manual interventions.”

“Basware AP Pro is very user-friendly; users can modify the layout according to the task at hand, making it very efficient,” said Maija Westerlund of DB Schenker Oy, one of the AP Pro pilot customers. “It is highly recommended for companies that manage large invoice volumes.”

Earlier this year, Basware announced updates to its Basware Purchase software in order to allow clients more spend visibility and better user adoption.

The company said the improved version implements two unique layers of user authorization — simplified and restricted — specifically made for end users who are not procurement experts. Each user level offers a customized experience that is instinctive and straightforward.

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