Basware taps into machine learning


"Basware algorithm-based machine learning services are available to help add value at every point in the purchase-to-pay process by freeing up employee time, eliminating errors, and speeding things up," said Sami Peltonen, VP Products and Business Management of North America for Basware. "Earlier this year, we introduced a natural language processing, artificial intelligence based virtual assistant to help users navigate our electronic procurement solution and find transactions much faster. Another capability we just introduced is what we call intelligent order aggregation." "The system analyzes historical data to automatically determine the number of approved items waiting to be ordered and compares it to the weekly average for that particular vendor and location. If the number of pending items meets or exceeds the average, a purchase order can be automatically generated. If it is less than average, however, the user has the option to wait until the average number of items is reached before placing the order so that they can save on freight costs as well as take advantage of any volume discounts offered by the vendor," continued Peltonen.