Priya Patel
TLDR:
- Basware’s platform has empowered CFOs and finance teams at influential enterprise organizations like HP and Mercedes-Benz for almost 40 years
- The company experienced significant growth in 2023, acquiring high-profile brands and expanding globally
Basware, a global leader in accounts payable automation and invoice processing, has been empowering CFOs and their finance teams at enterprise organizations like HP and Mercedes-Benz for nearly 40 years. The AI-enabled platform automates complex tasks, significantly reducing processing time and errors. In 2023, Basware saw a 52% increase in bookings, accelerated recurring revenue, and onboarded over 100 high-profile brands.
Over the past year, Basware expanded its global footprint, acquired Irish fintech Glantus, and added key personnel to its team. The company’s customer retention rate stood at an impressive 97.4%, with a focus on providing value and growth for customers throughout the sales cycle. Basware was also recognized as a Gartner Peer Insights Customers’ Choice for procure-to-pay suites.
Looking ahead, Basware has ambitious plans for growth in 2024, focusing on expanding across the US, Europe, and APAC regions. The company aims to invest in customer growth, AI innovation, compliance, and fraud prevention. By acquiring Glantus, Basware has enhanced its fraud detection capabilities to help businesses combat invoice and payment fraud.
Basware’s CEO, Jason Kurtz, highlights the company’s commitment to supporting the office of the CFO and its dedication to enhancing the customer experience. With a partner-first strategy in place, Basware aims to showcase the quantifiable business value of its solutions and enable customers to achieve fully touchless AP departments.
