Basware Unveils New Approach To Invoice Automation
Basware is changing its approach to invoice automation, focusing on AI and data management. This shift may impact the AP automation market.
Original reporting · forrester.com
Original: “Basware Unveils Governed Agentic AP Automation”
Read “Basware Unveils Governed Agentic AP Automation” at Forrester →
How this was written. The 5:45 Ops Desk wrote this article with a language model from Forrester’s reporting (model: @cf/meta/llama-3.3-70b-instruct-fp8-fast); it describes that reporting rather than adding to it. The original, linked above, is the full story.
Key points from Forrester’s report
- Basware is shifting its focus to AI and data management in invoice automation
- The company's governed agentic AI approach may help address concerns about agent security and trust
- Basware's SuperCore data foundation is expected to provide a consistent understanding of suppliers and invoice fields
- E-invoicing compliance is a major theme in Basware's new strategy
- Basware's roadmap connects four key areas: invoice automation, agent governance, fraud prevention, and compliance
Basware recently outlined its new direction for invoice lifecycle management at a customer event in Dublin. The company's strategy combines agentic AI, invoice data, and payment fraud prevention. This approach reflects the evolving AP automation market, where touchless invoice processing is becoming a standard expectation.
The next phase of AP automation will focus on using contextual data and AI agents to make decisions and manage regulatory requirements. Basware is investing in a governed agentic AI approach, which includes governance controls and continuous verification of agent actions. This may help address concerns about agent security and trust.
Basware's AI Lab is leading the development of this new approach, with a focus on advancing agentic AP with governance controls. The company is also working on a new data foundation, called SuperCore, which will connect its network intelligence with governed AI capabilities. SuperCore may provide a consistent understanding of suppliers, invoice fields, and payment terms.
SuperCore is designed to support various capabilities, including invoice capture, smart coding, and analytics. The data foundation will also include supplier and bank account pairings, which may help prevent payment fraud. Basware's acquisition of Trustpair is also expected to play a key role in its fraud prevention efforts.
E-invoicing compliance is another major theme in Basware's new strategy. The company is committed to supporting evolving e-invoicing requirements in major jurisdictions, including France and Germany. This may involve providing accurate invoice content, updated country rules, and integration with customer processes.
Basware's roadmap connects four key areas: invoice automation, agent governance, fraud prevention, and compliance. The company's trusted invoice record, SuperCore, is at the center of this strategy. Basware's next steps will be crucial in determining the success of its new approach. This article is based on reporting by Forrester.
Questions and answers
What is Basware's new approach to invoice automation?
Basware is focusing on AI and data management, combining agentic AI, invoice data, and payment fraud prevention.
What is SuperCore and how does it fit into Basware's strategy?
SuperCore is a data foundation that connects Basware's network intelligence with governed AI capabilities, providing a consistent understanding of suppliers and invoice fields.
How does Basware's acquisition of Trustpair impact its fraud prevention efforts?
Trustpair's payment fraud capabilities may help Basware prevent payment fraud and provide a more comprehensive fraud prevention solution.
