Basware Named a Leader in First-Ever Gartner Magic Quadrant for Accounts Payable Applications

CHARLOTTE, N.C. — Basware, a global leader in invoice lifecycle management, has been named a Leader in the first-ever Gartner® Magic Quadrant™ for Accounts Payable Applications. This recognition underscores Basware's commitment to continuous innovation for the CFO office—delivering end-to-end invoice lifecycle solutions from network and invoice capture to reconciliation and collections services.

With the accounts payable (AP) automation market projected to grow at a 12.8% compound annual growth rate (CAGR) by 2030, businesses are facing increasing pressure for digital transformation and AI adoption. Meanwhile, e-invoicing compliance requirements, increasingly sophisticated fraud threats, and the migration to cloud ERP systems are reshaping the financial operations landscape. These pressures, combined with budget constraints, make efficiency and automation critical to financial resilience. Basware helps businesses tackle these challenges head-on.

Basware redefines AI-driven end-to-end invoice lifecycle management, backed by the world's largest open e-invoicing network and unmatched data insights, strengthening the world's most complex financial operations. This is powered by Basware's intelligent automation capabilities—handling invoices in all formats, across all regions, with full compliance and complete control throughout the process.

Unlike other solutions in the market, Basware provides complete visibility and a single source of truth for all invoices on its platform. The result: lower operational costs, compliance and fraud protection, optimized working capital, talent development and retention, and smarter decision-making.

More than 6,500 customers globally—including DHL, Heineken, and Sony—choose Basware for invoice lifecycle management to streamline invoice processing, enhance compliance, reduce costs, and gain complete visibility and control over their operations. Customers have processed over 2 billion invoices through Basware, representing more than $10 trillion in total invoice spend, leveraging its automation and AI-driven insights to boost efficiency.

Basware CEO Jason Kurtz said:

"Basware is redefining how finance teams operate—eliminating inefficiencies, ensuring compliance, and providing AI-driven insights that enable CFOs to make smarter, faster, and more strategic decisions. We believe being named a Leader in the inaugural Gartner Magic Quadrant for Accounts Payable Applications is a testament to our unwavering commitment to delivering value in AP automation. After 40 years of innovation, we continue to lead the way toward invoice lifecycle processes that are 100% touchless, 100% compliant, and 100% protected."

Examples of achievements by Basware customers include:

• INNIO rapidly implemented AP automation following a private equity acquisition, while saving millions of dollars annually.
• Billerud modernized invoice processing using AI and machine learning, reducing total invoice costs by 25%.
• Huntsman saved nearly $9 million in duplicate payments and errors.
• Heineken achieved 100% automation and a 95% compliance rate, laying a solid foundation for its planned SAP S/4 HANA ERP migration in 2027.

Robert-Jan Van Looy, Senior Process Expert P2P at Heineken, said: "We are delighted to see Basware recognized as a Leader in the Gartner Magic Quadrant. This validates our decision to partner with Basware to realize our Evergreen strategy of becoming the 'best-connected brewer.'"

Basware's inclusion as a Leader in the Gartner Magic Quadrant follows a series of key innovations, including the launch of Basware Insights, advancements in GenAI technology, and the introduction of AP Assurance, an integrated fraud protection and statement reconciliation solution. Additionally, Basware has been recognized in other major industry evaluations, including being named a Leader in The Forrester Wave™: Accounts Payable Invoice Automation, Q3 2024, inclusion in the IDC MarketScape: Worldwide Accounts Payable Automation Software for Large Enterprises 2024 report, and being recognized by peers as a Customers' Choice in the 2023 Gartner Peer Insights™ 'Voice of the Customer': Procure-to-Pay Suites.

A complimentary copy of the Gartner® Magic Quadrant for Accounts Payable Applications report is availablehere.

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About Basware

Basware is how the world's top finance teams achieve complete control over every invoice. Its intelligent invoice lifecycle management platform ensures end-to-end efficiency, compliance, and control across all invoice transactions. Basware's intelligent automation is powered by the world's most advanced invoice-centric AI—trained on over 2 billion invoices—delivering real ROI by transforming financial operations. Basware serves more than 6,500 customers globally and is trusted by industry leaders such as DHL, Heineken, and Sony. With 40 years of expertise and $10 trillion in total spend processed, Basware is pioneering a new era in finance. With Basware, everything is under control.™