SmartCoding Leads to Touchless Invoice Processing

What SmartCoding can do for you

Bogged down by long processing times? Handling too many non-PO invoices? With growing invoice volumes these challenges only expand.

Basware SmartCoding is a machine-learning-based solution supporting your users with the invoice coding of your non-PO invoices. SmartCoding helps to reduce the number of touches on invoices by creating coding proposals.

SmartCoding automates coding of invoices that are not linked to a purchase order or a payment plan. SmartCoding uses the history of a supplier’s invoices, combined with multiple invoice dimensions, to automatically code invoices. Basware SmartCoding alleviates the strain of exception handling for non-PO invoices and helps you further automate your invoice processing.

Basware solutions are a perfect fit for:

Globally operating organizations with a desire to harmonize all invoice processes across all locations
More than 50.000 invoice transactions per year, across multiple formats (for less invoices, see P2P for Mid-Market solutions)
Finance Shared Service Centers with a need for speed
Multi-ERP environments by integrating with any ERP

Reduce the number of touches with SmartCoding

Continuously Improve with Advanced ML

Basware SmartCoding generates more consistent invoice coding and prevents mistakes by users in the process. Data quality for reporting purposes improves and advanced machine learning continuously improves the accuracy of coding proposals.

Remain in Control

Basware SmartCoding helps your users stay in control. Finance departments have control over how SmartCoding works by defining thresholds to steer the machine learning to remain in control over the final invoice coding decision.

Top 5 Options for Consistency

One coding proposal typically doesn’t fit all, so Basware SmartCoding provides users with the Top 5 options. TOP 5 Options reinforce the consistent use of coding dimensions.

Guided Interaction

Users are guided to make the right decision on the invoice coding. This saves time and reinforces the consistent use of coding dimensions.

Use Anywhere by Anyone

Basware SmartCoding is fully integrated into our AP automation which means that it can be used by anyone – by an AP clerk or by a business user – and it can be applied anywhere in the process. It guides users to make the best business decision on the created coding proposals. 

Achieve best-in-class AP Automation

                            
                        touchless processing
                      
                            electronic invoicing
                          
                                paid on time

How SmartCoding drives value for your AP

Efficiency

Speed up non-PO invoice coding with proposals and “top 5“ confidence indicators that guide users to make the best and most efficient decisions.

Increased Data Quality

More accurate and consistent usage of your coding dimensions.

Control

AP teams have control over how and when SmartCoding is used. Guidance for the user to code invoices consistently.

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FAQS

What is SmartCoding by definition?

SmartCoding is an advanced machine-learning-based model generating very accurate invoice coding proposals to accounts payable professionals.

What if I already have an AP solution?

SmartCoding is used within Basware’s Accounts Payable solution. It is an advanced machine learning (ML) based feature, which helps our customers create coding proposals for their non-PO invoice documents. SmartCoding uses the history of a supplier’s invoices, combined with multiple invoice dimensions, to automatically code invoices, therefore reducing the need for a human to code.

SmartCoding