Business intelligence
fromTNW | Offers
1 week agoYour finance team is still chasing invoices - here's the real cost
Manual accounts payable processes significantly increase costs and operational inefficiencies for small businesses.
The clock is ticking for companies using SAP ECC. The transition to S/4HANA must be completed by 2027. However, the reality is proving difficult. Figures from early February from research firm ISG show that nearly 60 percent of SAP migrations are delayed and exceed their budget. Underestimated complexity, scope expansion, and internal capacity constraints are identified as the main causes.
The emergence of so-called "agentic AI," systems that can perform tasks independently and support decisions, plays a central role in this. Two-thirds of respondents believe that there is currently more hype surrounding agentic AI than previous technological developments. At the same time, three-quarters are still discovering how this technology can be used effectively. According to Basware CEO Jason Kurtz, the time for experimentation is over; executives expect concrete results.
Basware recently introduced InvoiceAI. This is an agentic addition to the AI that the company already uses to process invoices. A concrete example of the usefulness of InvoiceAI is that it not only identifies invoices without a PO number, but also interprets them (i.e., understands what they are for) and makes suggestions for the correct number based on previous invoices from the same party.