To Basware, being placed the highest for execution and furthest in vision exemplifies how the company sets standard for Governed Autonomy in Invoice Lifecycle Management

CHARLOTTE, N.C., June 23, 2026 /PRNewswire/ -- Basware, the global leader in Invoice Lifecycle Management, has been named a Leader in the 2026 Gartner® Magic Quadrant™ for Accounts Payable Applications. Finance and AP leaders can read the full report here.

"Finance has moved from processing invoices to controlling them, end to end," said Jason Kurtz, Chief Executive Officer, Basware. "Most vendors bolt AI onto existing systems. We built our system around AI from day one. Our Invoice Lifecycle Management (ILM) platform is the foundation, built on 41 years of invoice expertise, 2.5 billion invoices processed and the reach of the industry's largest open e-invoicing network. We believe being named a Leader both years reflects how deliberately we built Basware for the way finance operates now."

A New Operating Model for Finance

Accounts payable automation was built for a world that has changed, and four forces are compounding at once. Compliance is fragmenting by country as major economies mandate B2B e-invoicing, while invoice fraud is rising and fraudsters are getting more sophisticated. ERP estates fragmented by years of acquisitions leave finance managing AP across many systems at once, and boards pushing AI adoption at scale now face auditors demanding evidence of every decision.

The result is fragmented compliance, broken audit trails, and no single view of liability across the enterprise. Finance leaders increasingly want platforms that go beyond invoice processing to deliver governed, auditable control across the full invoice lifecycle.

Basware treats this as a control problem rather than a processing problem. A faster broken process is still broken. Invoice Lifecycle Management governs every invoice from receipt through payment and archiving, across every entity and every country, on one platform.

It brings four capabilities together:

Governed Autonomy - so AI operates inside the guardrails finance sets and every decision is logged and auditable.

Continuous Compliance - which goes beyond tax mandates to keep every invoice aligned with commercial agreements and fiscal obligations automatically, turning regulatory change into a central update rather than a project.

Financial Integrity - so every transaction is proven correct before payment.

Enterprise Control - so finance can see and act on every invoice across more than 250 connected systems.

"AI without invoice expertise is just expensive automation," said Donna Wilczek, Chief Product and Technology Officer, Basware. "Invoice Lifecycle Management is purpose-built so that finance teams can adopt AI without giving up control. Customers decide how far to let it run, from advising on a single invoice to operating at full automation, and every action stays explainable and auditable. We're building a future where AI governed financial operations get smarter over time, stays compliant, and gives finance teams complete control."

Built on the Largest Invoice Dataset

Basware retains 98% of its customers, and that loyalty rests on a data advantage competitors cannot easily match: more than 2.5 billion invoices processed over 41 years, and more than $10 trillion in value approved for payment. That dataset is a large part of why the AI is right more often, and it improves with every invoice.

Across the platform, customers commonly reach more than 80% touchless processing, and Basware's coding AI reaches 81% first-pass accuracy across more than 19 million invoices. The platform executes roughly one billion AI actions a year, more than 80% of them without human intervention.

Validated by Customers

Basware has six times the reviews of any other AP vendor on Gartner Peer Insights™, with a 4.7-star rating based on 288 ratings as of today. More than 6,500 customers around the world rely on Basware to automate their finance operations.

Belden, a global manufacturer in cable, connectivity, and networking products, operates high-volume invoice processes across EMEA and North America. Belden has seen invoice visibility improve by 99.7% and processing time cut by 85% since deploying Basware's capabilities. "We're seeing what's possible when AI is embedded in the process - not added on top of it," said Astrid Baetsen, Manager of Accounts Payable SSC NA & EMEA, Belden. "Basware is helping us reimagine what AP can deliver."

Finance and AP leaders can read the report here.

Disclaimer: Gartner, 2026 Gartner® Magic Quadrant™ for Accounts Payable Applications, Miles Onafowora and David Condon, June 18, 2026.

Gartner, Magic Quadrant and Peer Insights are trademarks of Gartner, Inc. and/or its affiliates. Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences, and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.

About Basware

Basware is how the world's best finance teams gain complete control of every invoice, every time. Our Intelligent Invoice Lifecycle Management Platform ensures end-to-end efficiency, compliance, and control for all invoice transactions. Powered by the world's most sophisticated invoice-centric AI, trained on over 2.5 billion invoices, Basware's Intelligent Automation drives real ROI by transforming finance operations. We serve 6,500+ customers globally and are trusted by industry leaders including DHL, Heineken, and Sony. Fueled by more than 41 years of specialized expertise with $10+ trillion in total spend handled, we are pioneering the next era of finance. With Basware, now it all just happens.

Media Contact:
Basware
Abs Hassanali
Global Head of PR & Communications
abs.hassanali@basware.com

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