New milestone exemplifies Basware's strategy
and capabilities to transform AP and invoice
automation
CHARLOTTE, N.C., July 25,
2024 /PRNewswire/ -- Basware, a global leader in
accounts payable (AP) automation and invoice processing, unveils
inclusion as a leader in two IDC MarketScape Reports.
IDC MarketScape uses a scoring system to assess the strengths
and weaknesses of IT companies. The recognitions include:
- Leader in IDC Worldwide Accounts Payable Automation Software
for Large Enterprise 2024 Vendor Assessment
- Leader in IDC Worldwide Accounts Payable Automation Software
for Midmarket 2024 Vendor Assessment
For years, Basware has been recognized by analysts and customers
for its ability to automate and enhance the entire AP and
invoice journey – spanning fraud and risk management,
global compliance, artificial intelligence (AI), and
beyond.
Jason Kurtz, CEO at Basware, commented:
"The squeeze from macro-economic headwinds, expanding
invoicing regulations, and the rapid evolution of AI are pressuring
finance teams to deliver more than ever before, often without more
resources. In response, Basware has strengthened its global
offering, with significant investment in its technology and team.
We've received cumulative recognition amongst analysts and
customers, which is unprecedented in the accounts payable and
invoice automation market. We'll use this to continue empowering
CFOs and their AP teams with efficiencies benefitting their
organization to stay at the forefront of their industries."
Basware's solutions address the core pain points facing AP
teams, helping customers move from manual invoice handling towards
achieving 100% touchless invoice processing. According to IDC,
Basware is "a partner that provides a truly automated experience
with deeply rooted expertise in global compliance requirements."
Stand alone, or seamlessly integrated with existing systems,
Basware evolves AP workflows for some of the most complex global
large enterprises that handle thousands of invoices per week:
- Paper packing and materials manufacturer Billerud experienced a
25% monthly cost reduction through automation from AI and machine
learning
- Chemical company Huntsman prevented $5
million in duplicate payments through audit and
recovery
- Materials processing machinery manufacturer Terex Corporation
increased on-time payments to 85% with AI.
- Industrial materials producer Imerys expanded to 14 counties,
while integrating 10 ERPs, in under six months with solutions for
compliance.
The recognition from IDC follows Basware's acquisition of
statement reconciliation firm AP Matching and
fraud prevention company Glantus, alongside key
product upgrades to fraud solution AP Protect, and its
Touchless Invoice Processing Discovery Dashboard.
Download the report for enterprises here.
About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide
an overview of the competitive fitness of ICT (information and
communications technology) suppliers in each market. The research
methodology utilizes a rigorous scoring methodology based on both
qualitative and quantitative criteria that results in a single
graphical illustration of each vendor's position within a given
market. IDC MarketScape provides a clear framework in which the
product and service offerings, capabilities and strategies, and
current and future market success factors of IT and
telecommunications vendors can be meaningfully compared. The
framework also provides technology buyers with a 360-degree
assessment of the strengths and weaknesses of current and
prospective vendors.
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. With Basware, Now it all just happens.™
Photo -
https://mma.prnewswire.com/media/2468521/Basware_IDC.jpg
View original content to download
multimedia:https://www.prnewswire.com/news-releases/basware-revolutionizes-office-of-the-cfo-named-a-leader-in-inaugural-idc-accounts-payable-marketscape-reports-302206368.html
SOURCE Basware