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Basware recognised as a Leader in Forrester report

Monday July 8th, 2024

Basware has been recognised as ‘a Leader’ in The Forrester Wave™: Accounts Payable Invoice Automation, Q3 2024. According to the Forrester report, Basware was named as a leader in its 31-criterion evaluation. The company received the highest scores possible across 16 criteria, including Exception Handling, Fraud and Risk Management, and Tax Compliance and Operations.

The Forrester Wave™ report states: “Basware heads the pack with a laser focus on automating the last mile of AP processes. As the largest specialist provider of APIA [Accounts Payable Invoice Automation] software, Basware has established itself as an APIA powerhouse with customer obsession, practical innovation, and solid execution. Its pragmatic product roadmap addresses critical client pain points related to compliance and fraud management.”

AP teams have been battling against external forces in recent years, such as macro-economic headwinds, the supply chain crunch, labour market shortages and expanding regulations, putting the squeeze on resources. To alleviate pressures, AP professionals need access to cost and time effective technologies that can manage increasingly complex business operations, support customers and always remain compliant with global regulations. According to a news blog item from Basware.

Nish Makwana, Finance Manager at Specsavers (customer of Basware), commented: “Being recognised as a leader in the Forrester report confirms the outstanding performance we've experienced as a customer of Basware's AP automation and Statement Matching solutions.”

In recent months, Basware has furthered its commitment to innovation and delivering value to customers and the industry by:

Partnering with Deloitte to remove manual invoice processing and accelerate finance transformation
Acquiring UK-based AP Matching to boost statement reconciliation
Launching AP Protect to help protect organisations from the threat of invoice errors and fraud using AI

Jason Kurtz, CEO at Basware, commented: “AP teams are tasked with managing thousands of invoices and payments every week, often putting a strain on resources and pushing them to balance speed with compliance. The answer to this challenge? Unified end-to-end APIA solutions. The industry has been calling for enhanced automated solutions to support AP departments, and we’re helping our customers save time and money, while remaining compliant with ever-changing global regulations. We believe that being named a leader sets us apart from our competitors. But we’re just getting started, and the best is yet to come.”

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Avalara helps businesses of all sizes get tax compliance right. In partnership with leading ERP, accounting, eCommerce and other financial management system providers, Avalara delivers cloudbased compliance solutions for various transactional taxes, including sales and use, VAT, GST, excise, communications, lodging, and other indirect tax types. Headquartered in Seattle, Avalara has offices across the U.S. and around the world in Canada, the U.K., Belgium, Brazil, and India.