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Basware launches Insights platform with GenAI capabilities to enhance touchless invoicing
Business Expense Management
Oct 29, 2024
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Business Expense Management

Business Expense Management

View industry hub
Oct 29, 2024

Basware launches Insights platform with GenAI capabilities to enhance touchless invoicing

Product updates

  • Basware, a global accounts payable automation and invoice processing company, has launched Basware Insights, an analytics platform powered by GenAI. The platform features a "CFO Cockpit" dashboard designed for finance teams to analyze and manage AP processes.

  • The platform includes natural language processing capabilities allowing users to ask questions and receive tailored insights, customizable dashboards with AI-driven insights, data-driven benchmarking for industry-specific insights, and specialized reporting capabilities. The CFO Cockpit monitors key metrics such as touchless invoice rates and retrospective POs.

  • The company claims it can help customers achieve 100% touchless invoicing while addressing reporting challenges faced by finance leaders.

  • Analyst QuickTake: This product development aligns with recent trends in the business expense management industry, particularly in introducing GenAI-integrated products. In September 2024 , Airbase launched its AI-powered Touchless AP for accounts payable automation, while Stampli enhanced its AP automation platform with advanced AI features.

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