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Forrester Wave™ Recognition Highlights:
- Recognition: Named a Leader in The Forrester Wave™: Accounts Payable Invoice Automation Q3 2024.
- Criteria: Scored highest across 16 out of 31 criteria, including Exception Handling, Fraud and Risk Management, and Tax Compliance and Operations.
- Forrester’s Assessment: Basware excels in automating the last mile of AP processes, demonstrating customer obsession, practical innovation, and solid execution.
Challenges and Needs in AP Automation:
- Current Trends: Increased demand for automated invoice processes driven by AI advancements.
- Key Needs: Superior AI capabilities, greater automation, and comprehensive financial and cash data insights for customer attraction and retention.
- AP Team Pressures: Addressing macro-economic headwinds, supply chain issues, labor shortages, and expanding regulations.
Basware’s Recent Innovations and Developments:
- Partnership with Deloitte: Eliminated manual invoice processing and accelerated finance transformation.
- Acquisition of AP Matching: Enhanced statement reconciliation capabilities.
- Launch of AP Protect: New AI-driven solution to safeguard against invoice errors and fraud.
- 2023 Achievements:
- Financial Success: One of the most successful years with over 300 new customers.
- Platform Impact: Managed over 200 million invoices and $900 billion in invoice spend.
Customer Feedback:
- Nish Makwana, Finance Manager at Specsavers: Praises Basware’s AP automation and Statement Matching solutions for outstanding performance.
Jason Kurtz’s Vision:
- Comment: Emphasizes the importance of unified end-to-end APIA solutions for AP departments, focusing on time and cost efficiency while ensuring global compliance.
Basware’s recognition as a Leader in The Forrester Wave™: Accounts Payable Invoice Automation Q3 2024 underscores its leadership in AP automation and commitment to delivering innovative, efficient solutions. The company’s recent advancements and success reflect its ongoing dedication to enhancing AP processes for customers worldwide.