Basware introduces InvoiceAI to revolutionize invoicing processes.

2025-11-29

Basware has unveiled InvoiceAI, a collection of five AI innovations that leverage agentic AI to autonomously handle invoices.

To build on this introduction, Basware introduced InvoiceAI with the goal of streamlining invoice processing and reducing time spent by finance teams.

Considering Basware’s extensive dataset encompassing 272 million invoices from last year, it was noted that 40% (approximately four in ten) of invoices received lacked purchase orders. This situation creates a significant financial ‘blind spot’ of around USD 549 billion for untracked spending, prompting the development of agentic AI as a solution to offer finance teams better visibility and control over this hidden expenditure.

Gaining Insight and Precision in Invoices, Enhancing Compliance, and Ensuring Timely Payments

According to Basware’s official press release, Agentic AI aims to revolutionize invoice processing for finance departments by automating the reading, validation, and matching of both PO and non-PO invoices. This is intended to minimize bottlenecks without requiring extensive manual intervention.

A key aspect is that when an invoice arrives with no PO number, AI will analyze it, comprehend its content, suggest appropriate coding based on similar past invoices, and direct it to the relevant approver.

It’s also important to note that accounts payable departments spend about 10% of their time managing non-PO invoices. By integrating agentic AI into financial operations, businesses are expected to gain both visibility and accuracy in all invoice handling processes, thereby enhancing compliance and ensuring timely payments.

The suite of InvoiceAI includes five key AI developments designed to optimize the entire invoice lifecycle (from receipt through approval and payment):

SmartCoding is intended for automatically assigning correct codes to invoices, eliminating manual coding by finance teams.
SmartWorkflow aims to streamline the routing of invoices to appropriate approvers without additional human input.
SmartPDF will convert paper or PDF invoices into digital data for immediate processing.
AP Business Agent provides staff with real-time guidance on actions needed when dealing with invoices.
AP Data Agent enables employees to access simple answers about their invoices and create reports using natural language processing.

In summary, InvoiceAI is expected to significantly enhance the number of invoices processed smoothly. For those requiring further action, it will provide clear recommendations within a centralized hub for handling non-PO invoices in particular.