Introduction to Agentic Finance
Basware has introduced AI agents in its invoice lifecycle management platform, extending the existing InvoiceAI abilities. This move is a step towards what the company calls “Agentic Finance,” a model where AI systems undertake finance tasks under preset controls.
Meanwhile, Jason Kurtz, CEO of Basware, notes that the immediate future of finance involves near-perfect, touchless invoice processing. However, the future involves Agentic Finance, where AI entities transact on behalf of the enterprise to drive faster, smarter decisions and real business outcomes.
Impact on Accounts Payable
The immediate operational area affected is accounts payable. Basware’s agents are designed to operate inside existing invoice processes. For example, the AP Business Agent provides contextual guidance to users handling invoices, recommending next steps based on the transaction’s status.
Additionally, the AP Data Agent provides the ability to query data in natural language, allowing users to get information without using a reporting tool. Questions may be, for instance, which invoices are awaiting approval in a specific jurisdiction? Or, which suppliers granted early payment discounts in a given period?
Benefits of AI Agents
The agents are intended to reduce the volume of routine queries and manual follow-ups done by accounts payable teams. Furthermore, Kurtz argues that the technology can alter workers’ roles. When AI agents handle repetitive questions to business users, AP teams are freed up to ask questions that lead to real impact.
Therefore, this is how you move from processing transactions to driving strategy. Moreover, the company is working to reach “100% automated, 100% compliant, and 100% protected invoice processing.”
Adoption of AI in Financial Business Functions
A survey conducted on behalf of Basware found that 61% of organisations had deployed AI agents as experiments, and a quarter did not fully understand what an AI agent looks like in practice. However, Basware would like to see its customers move from experimentation to operational use.
Meanwhile, the survey figures comprised responses from 200 finance leaders in the US, United Kingdom, France, and Germany. The question permeating agentic activities in financial platforms is one of governance. Finance functions will delegate tasks to AI systems only if human operators retain control over authorisation, are assured of compliance, and have access to an audit trail.
Governance and Autonomy
Basware’s agents’ actions pass through a central policy engine, which applies business rules and sets compliance requirements and risk thresholds. The company refers to such controls as autonomy ‘gates’. Kurtz described the principle: “Autonomy without trust is just risk. Our platform is uniquely designed to ensure that every AI decision is explainable and governed through the same controls finance teams already rely on.”
Additionally, the company sees its agents integrating with established processes, rather than working in parallel outside governance frameworks. Meanwhile, Basware has several more agentic AIs in development, including a Supplier Agent and an AP Pro Agent.
Real-World Benefits
The company cites early user experiences from Billerud, a paper manufacturer. Jesper Persson from the company said there had been benefits. Since day one, they’ve perceived the desired values from the project. The quality of invoices has improved considerably, and the AI continues to evolve and improve with each passing day.
Finally, the efficiency gains achieved translated directly into tangible cost savings. The company’s objective is to have finance teams delegate decisions and actions to agents in the future, and it plans to release more AI tools in 2026.
Conclusion and Future Outlook
In conclusion, Basware’s introduction of AI agents in its invoice lifecycle management platform is a significant step towards Agentic Finance. The company’s goal is to have finance teams delegate decisions and actions to agents in the future.
Therefore, if you’re looking to revolutionize your finance operations with AI agents, consider Basware’s platform. With its focus on governance, autonomy, and explainability, Basware is poised to lead the way in Agentic Finance.
Frequently Asked Questions
Q: What is Agentic Finance?
A: Agentic Finance is a model where AI systems undertake finance tasks under preset controls.
Q: How do Basware’s AI agents work?
A: Basware’s AI agents operate inside existing invoice processes, providing contextual guidance and querying data in natural language.
Q: What are the benefits of using AI agents in finance?
A: The benefits include reduced volume of routine queries and manual follow-ups, altered workers’ roles, and increased efficiency gains.
Q: How does Basware ensure governance and autonomy in its AI agents?
A: Basware’s agents’ actions pass through a central policy engine, which applies business rules and sets compliance requirements and risk thresholds.
Q: What is the future outlook for Basware’s AI agents?
A: Basware plans to release more AI tools in 2026, with the objective of having finance teams delegate decisions and actions to agents in the future.
