The accounts payable automation options firm proves it might probably speed up time to worth for purchasers by 50% with AI
LONDON, July 16, 2024 (GLOBE NEWSWIRE) — Rackspace Know-how ® (NASDAQ: NASDAQ:) “ the main end-to-end, hybrid multicloud, and AI options firm, at present introduced that Basware, a premier supplier of accounts payable (AP) automation options, has efficiently leveraged AI to reinforce its Extract, Rework, Load (ETL) coding course of. Basware partnered with Rackspace Know-how to experiment with coaching code-generating language fashions utilizing Amazon (NASDAQ:) Bedrock and Amazon Internet Providers (AWS). This enabled Basware to innovate quicker for its prospects, accelerating time to worth. This in flip can allow its prospects to concentrate on their on a regular basis enterprise operations moderately than the know-how implementation.
Based in 1985, Basware has 40 years’ expertise in AP and is famend for its complete suite of instruments and experience in streamlining bill processing for companies globally. The Finnish firm’s community accounts payable automation options processes over 220 million digital invoices yearly for manufacturers together with DHL, Clarins, and Mercedes-Benz (OTC:). Basware’s dedication to effectivity and accuracy helps firms of all sizes optimise their AP workflows, scale back guide duties, and enhance monetary visibility.
As Basware continues its speedy development trajectory, optimising the shopper onboarding course of turned a precedence. Basware partnered with Rackspace Know-how to discover AI’s potential to optimise the onboarding course of. Foundry for AI by Rackspace (FAIR™) supplied the experience required to speed up the safe, accountable, and sustainable adoption of generative AI.
This undertaking was primarily centered on analysis and understanding the potential of generative AI,” said Alistair Gilbert, VP, Platform Engineering at Basware. “It is going to considerably impression Basware’s capacity to scale and ship worth to prospects extra quickly. Discovering extra modern and superior methods to assist our companions allows us to attain that scale.”
The Rackspace Technology team’s objective was to train an AI language model to autonomously generate essential ETL integration code, enabling Basware’s consultants to create code snippets by simply asking questions in natural language. Basware’s proprietary language, AnyERP, was fine-tuned into the AI model to understand and generate it for the consultants.
To achieve this, Rackspace Technology experimented with various training processes, including few-shot learning, fine-tuning, and pre-training, using Amazon Bedrock. This approach provided flexibility and access to different foundational models, enabling extensive experimentation. As a result, the AI’s accuracy in generating ETL code improved from 60% to 90%.
By leveraging our AI expertise and the advanced capabilities of AWS, we demonstrated how AI automation has the potential to provide efficiencies to Basware’s consultants and its customers, said Boudewijn Van Dulken, General Manager for Northern Europe at Rackspace Technology. This collaboration not only highlights how generative AI has the ability to solve complex, industry-specific challenges but also underscores our commitment to helping businesses innovate and scale rapidly.”
Click on right here for the Basware case examine and right here for the video to study extra in regards to the full Rackspace Know-how Basware resolution.
About Foundry for AI by Rackspace (FAIR)
FAIR is a groundbreaking world observe devoted to advancing enterprise transformation, bettering buyer expertise, rising the standard of service, and accelerating worth creation via the safe and accountable use of AI applied sciences. FAIR has recognized over 500 use circumstances throughout a number of industries and is engaged on a number of industry-leading implementations for our prospects throughout the globe.
About Rackspace Know-how
Rackspace Know-how is a number one end-to-end hybrid,¯multicloud, and AI know-how providers firm. We design, construct, and function our prospects’ cloud environments throughout all main know-how platforms, regardless of know-how stack or deployment mannequin. We companion with our prospects at each stage of their cloud journey, enabling them to modernize functions, construct new merchandise, and undertake modern applied sciences.
Media Contact:
Natalie Silva, publicrelations@rackspace.com
