After two years in the making, Basware is incredibly proud to introduce the Upgraded Baswares Insights – a game-changing leap forward in AP visibility, automation, and control. This is one of the most significant upgrades since our shift to the cloud, designed to empower finance teams with real-time, actionable intelligence, all powered by next-gen AI.
On Feb 13th, we conducted a webinar discussing the Future of Basware Insights; you can watch a session recording below or visit the event page here. We've also summarized the key highlights in the blog below.
Why is Basware Insights being upgraded?
The decision to upgrade Basware Insights stems from our recognition that to stay the leader in AP automation, Basware must continue delivering greater value, efficiency, and actionable intelligence to customers. In the development process, we considered 3 core themes:
- Customer Feedback: Users requested improved data access, enhanced insights into AP processes, and better adaptability to evolving financial environments.
- Market Trends: Research shows a growing demand for automation, self-service, and network insights, with 85% of CFOs citing data-driven insights as essential for their business.
- Innovation & Future-Proofing: The new underlying architecture of Insights ensures consistent performance, faster innovation cycles, and quicker feature releases.
To ensure a seamless transition, all existing customers will receive a free technical upgrade:
- Basware Analytics customers will transition to Insights Essentials dashboards.
- Basware Insights customers will move to Insights Pro dashboards.
Reports will continue to be available to download directly from the platform. Still, we will also offer an enhanced API export functionality called Data Access, which will be available as an add-on service.
Key Functionality in the Upgraded Insights
The new Insights solution brings several enhancements, making it more intuitive and powerful:
- Unified User Experience: A consistent interface across Basware’s solutions ensures higher user satisfaction and efficiency.
- Enhanced Dashboards & KPIs: A more transparent, more detailed view of AP performance metrics. Tailored dashboards for specific teams like procurement and finance. Ability to track key business drivers such as touchless processing rates, on-time payments, and spending under control.
- Advanced Data Access & Analytics: Benchmarking tools to compare performance against industry peers. AI-driven analytics for predictive insights and continuous improvement. Customizable data reports with deep drill-down capabilities.
- Process Optimization & Efficiency Gains: Simulation tools to measure the impact of process changes before implementation. Insights into invoice data quality, helping businesses understand why manual touches occur. Support for automated data extraction, allowing seamless integration with BI tools and data warehouses.
What Does the Transition Timeline Look Like?
The transition to the new Insights solution will follow a structured rollout:
- Early Access Phase (Now - Q1 2025): Customers can start using the beta version of Insights immediately. Initial feedback will be incorporated to refine the solution before general availability.
- General Availability (End of Q1 2025): The new Insights solution will be officially launched and available to all customers.
- Transition Period (Starting Early Q2 2025 Onwards): Customers will operate both the old and new versions in parallel. The old Analytics and Insights solutions will be phased out gradually.
The transition period length will be determined based on customer feedback and adoption rates. Our key focus is ensuring customers have a seamless transition to the upgraded solution before we start discussing the removal of the previous versions. Based on your feedback, we will confirm the sunset date for the legacy versions during Q2 2025.
Next Steps
To ensure a smooth transition and maximize the benefits of the new Basware Insights, we recommend:
- Watch the Webinar - If you could not attend the webinar discussing the future of Basware Insights, we highly recommend watching it now. You can access the recording here.
- Visit the Training Hub – This is a dedicated space with tutorials, product walkthroughs, and best practices. Register Here
- Schedule a session with your CSM – Discuss your upgrade path and explore whether Insights Pro fits your needs.
- Stay tuned for updates – More features will be rolled out in 2025, enhancing Insights further.
Final Thoughts
Basware Insights is designed to help businesses drive more intelligent decision-making, increase automation, and optimize financial performance. Whether you want to gain deeper analytics, benchmark against industry peers, or enhance AP efficiency, this upgrade marks a significant step toward a data-driven, AI-ready finance function.
Are you ready to take advantage of the new Insights? Get in touch with your CSM today! 🚀