April Product Release Notes: Expanding Transparency and Security with New P2P Features

Basware has introduced significant enhancements to our platform with the latest Release 24.4. These updates are designed to bolster security measures, improve compliance, and streamline the purchasing process for users. In this article, we delve into the key features now available to Basware customers.

Enhanced Document Access Reporting for Purchase Orders

A significant highlight of the April release is the expansion of the invoice access reporting feature to include purchase orders. This new capability in our Purchase module enables tracking of who accesses purchase order data and when. This comprehensive tracking system logs the viewing of purchase orders and the types and timing of searches conducted by users, significantly increasing transparency across procurement processes. Importantly, this enhances security and ensures compliance with local market regulations.

Administrators can now create and view reports for all document types. The format of these reports has been improved to accommodate any document type, ensuring that data handling remains streamlined and efficient. Additionally, data retention settings, which are uniform across all document types, can be customized to meet specific organizational needs.

AP Automation Updates: SmartCoding and Spend Plans

April release also introduces an update to SmartCoding, a machine learning-based service that proposes invoice coding. Now, a new supplier selection option allows specific preferences to be set for particular suppliers, optimizing the accuracy and efficiency of invoice processing.

This feature ensures that invoices from preferred suppliers can be fast-tracked through the approval process if they meet the set accuracy benchmarks.

In the Spend Plans module, there is now support for direct currency calculation at the time of Spend Plan approval. This feature allows for more accurate approvals when dealing with different currencies, thereby preventing delays and complications in budget management.

External Images and Attachments are now available in Basware

For organizations leveraging external archiving or storing invoices in their ERP solutions, Basware has made it easier to access invoice images and attachments through the Basware API. This enhancement allows AP clerks to access externally archived documents when assessing an invoice, adding another layer of functionality to Basware’s integrations. To enable this, please get in touch with your CSM or Basware Consultant. 

Marketplace sees multiple updates released

We conclude the April release with several updates for Marketplace:

• Firstly, the Content Loading Templates interface has been revamped for better usability, showcasing options with clearer names, descriptions, formats, and versions.
• Secondly, the process for archiving expired agreements has been simplified, ensuring they are promptly removed from groups upon expiration.
• Thirdly, Product Manager admins can now export ratings and reviews for all items within an agreement. This development is particularly beneficial for businesses looking to aggregate feedback across various items to analyze trends, supplier performance, and product quality.