Meet the cutting-edge solution designed to enrich your invoice data and elevate your AP processes

For global enterprises, the quality, accuracy, and reliability of your invoice data matters. Good, trustworthy data allows for expedited processes, cost savings, and the mitigation of risk for your entire organization.

The problem is, such high-quality data is not guaranteed. It takes work – work that has historically fallen on outdated, manual processes that leave companies ill-informed and vulnerable to excess costs and unnecessary risks. Even when finance teams implement enterprise resource planning (ERP) software or accounts payable (AP) systems to manage their invoicing process, many of the options on the market today fail to provide accurate visibility across all invoicing channels. They also lack the power to identify errors in the data and stop them before they enter your systems, causing costly delays in a process that is vital to the success and sustainability of your business.  

In today’s fast-moving and complex business environment, companies can no longer afford the status quo. To stay competitive, your finance team needs systems and processes you can count on when it comes to ensuring only high-quality data enters your AP process. You need Basware Invoice Enrichment.

What does Basware Invoice Enrichment do?

Basware Invoice Enrichment provides finance teams at global enterprises with increased control over invoices before they enter the AP process. It also enables the verification, addition, and enrichment of invoice data to ensure only high-quality data is entered into your financial systems. When your finance team can manage, verify, and improve invoice data quality upfront, it leads to better control over ERP/AP workflows downstream. It also saves your business time and money and mitigates your financial risk for the long-term.

Key benefits of Basware Invoice Enrichment

Let’s take a deeper look at what Basware Invoice Enrichment has to offer:

• Increased visibility and control: Our system provides you and your finance team with a dashboard view of all incoming invoices to enhance visibility across your organization, which allows you to make data-based decisions at an early stage of the invoicing process. It ensures the right invoices end up in the right business unit, and it creates a dispute process to prevent invalid invoices from entering your AP process.
• Superior quality invoice data: If your business is struggling with errors in your invoicing data, you are not alone. Even best-in-class companies report that 30% or more of their invoices contain discrepancies. The good news? Our system addresses these discrepancies by using advanced enrichment rules that can be tailored to meet your business process requirements. It also creates a unified control layer across all ERP or AP systems to verify data before it is processed.
• Mitigated risks: Reduce risks proactively by implementing measures to block invalid invoices from entering your systems, ensuring a robust audit trail for all activities. This approach not only safeguards your processes but also enhances transparency and compliance, providing peace of mind for your AP operations. 

Your path toward touchless invoice processing

Invoice Enrichment paves the way towards touchless invoice processing, the holy grail of AP automation. Basware Invoice Enrichment empowers finance teams with control over invoice data, guarding against erroneous payments and delivering savings through proactive data management. As the starter module of our comprehensive AP Automation solution, it offers an easy transition to the full suite, incorporating automated matching, coding, and advanced functionalities to continuously optimize AP operations with cutting-edge technology. 

To learn more, contact one of our solutions experts or check out our Invoice Enrichment video.