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Accounting · head to head

Basware vs Modern Treasury

Basware logo

Basware

Accounting

Invoice automation and e-invoicing compliance across a large number of national mandates

From
On request
Rated
-
Full reviewWebsite
Modern Treasury logo

Modern Treasury

Accounting

Payment operations and ledger infrastructure that sits between your product and your own bank accounts

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Basware the e-invoicing compliance breadth that justifies the price is worthless to a company operating in a single country, where cheaper AP automation tools will do the same work.; Modern Treasury you must already have or be able to obtain your own bank accounts with the right connectivity, so early stage companies without a banking relationship cannot use it and are pushed towards a sponsor bank model instead.
  • They diverge on capability: Basware covers Invoice capture, Modern Treasury covers Multi-rail payment initiation.
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which Basware and Modern Treasury actually diverge.

Attributes where Basware and Modern Treasury differ
AttributeBaswareModern Treasury
PlatformsWeb, iOS, AndroidWeb

Identical on both: starting price (On request), pricing model (quote), free tier (No), user rating (Not yet rated), category (Accounting).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Basware

  • Invoice capture
  • Matching
  • Approval workflow
  • E-invoicing compliance
  • Supplier network
  • Payment execution
  • Spend analytics
  • ERP integration

Only in Modern Treasury

  • Multi-rail payment initiation
  • Bank connectivity
  • Ledgers
  • Automatic reconciliation
  • Approval workflows
  • Virtual accounts
  • Compliance tooling
  • Return and exception handling

What people use each for

The jobs each tool is most often brought in to do.

Basware

  • A multinational needing compliant electronic invoicing across Italy, Poland, France and Mexico without building each mandate itselfnot Modern Treasury
  • A shared service centre processing hundreds of thousands of invoices a year that needs touchless processing rates measured and improvednot Modern Treasury
  • A group standardising accounts payable across subsidiaries running different ERP systemsnot Modern Treasury
  • A finance function trying to capture early payment discounts that are currently lost to slow approval cyclesnot Modern Treasury

Modern Treasury

  • A marketplace paying out to thousands of sellers that needs a ledger its application can trust rather than reconciling a payments dashboard by handnot Basware
  • A lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accountsnot Basware
  • A company that wants to move off a banking as a service provider and hold its own bank accounts after seeing sponsor banks offboard fintech programmesnot Basware
  • An insurer handling premium collection and claims payment across several rails with approval controls and an auditable trailnot Basware

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Basware

  • The e-invoicing compliance breadth that justifies the price is worthless to a company operating in a single country, where cheaper AP automation tools will do the same work.
  • Implementation is a substantial integration project involving ERP connectors, supplier onboarding and country-by-country compliance configuration, and it is priced and timed accordingly.
  • The user interface is dated next to newer accounts payable products, and approvers outside finance find it unintuitive, which slows the very cycle times the system is bought to improve.
  • Supplier onboarding onto the network is the hidden effort: the touchless processing rate depends on how many suppliers actually send electronic invoices, and that is a change management programme, not a software setting.
  • Growth by acquisition, including Glantus, has left overlapping analytics capability and integration work still in progress, so buyers should check which components share a data model today.

Modern Treasury

  • You must already have or be able to obtain your own bank accounts with the right connectivity, so early stage companies without a banking relationship cannot use it and are pushed towards a sponsor bank model instead.
  • Pricing rests on an annual minimum commitment, and companies that miss their volume forecast pay the minimum regardless, which makes the headline per-transaction rate close to irrelevant in year one.
  • Supported bank connectivity is a finite list, so if your bank is not on it you are either waiting for an integration or changing banks, which is a far larger project than adopting the software.
  • It is software over banking, not banking, so it does not solve card issuing, deposit accounts or the licensing questions that a company embedding financial products still has to answer elsewhere.
  • The ledger is genuinely good but adopting it properly means making it the source of truth for balances in your product, which is a significant application change rather than a payments integration and is where implementations run long.

Pricing, plan by plan

Basware

On request
  • Basware$undefined/year
    • Invoice automation, matching and approval
    • E-invoicing compliance across national mandates
    • Supplier network connectivity

Modern Treasury

On request
  • Modern Treasury Platform$undefined/year
    • Platform access fee covering API, dashboard, infrastructure and support
    • Usage-based fees across ACH, wires, RTP, FedNow, push to card, cheques and stablecoins
    • A single annual minimum commitment that both platform and usage fees count towards

Which should you pick?

Choose Basware if

  • You need invoice capture.
  • You work on Web, iOS, Android.
  • You also want matching.
Basware review

Choose Modern Treasury if

  • You need multi-rail payment initiation.
  • You also want bank connectivity.
Modern Treasury review

Questions people ask

Is Basware or Modern Treasury better?
Neither clearly leads. Basware starts at On request and Modern Treasury at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Basware or Modern Treasury?
Basware starts at On request and Modern Treasury at On request.
Does Basware or Modern Treasury run on more platforms?
Basware runs on Web, iOS, Android. Modern Treasury runs on Web.
What is Basware best used for?
Basware is most often used for a multinational needing compliant electronic invoicing across italy, poland, france and mexico without building each mandate itself, a shared service centre processing hundreds of thousands of invoices a year that needs touchless processing rates measured and improved, a group standardising accounts payable across subsidiaries running different erp systems, a finance function trying to capture early payment discounts that are currently lost to slow approval cycles. Of those, a multinational needing compliant electronic invoicing across italy, poland, france and mexico without building each mandate itself and a shared service centre processing hundreds of thousands of invoices a year that needs touchless processing rates measured and improved are not what Modern Treasury is typically brought in for.
What can Basware do that Modern Treasury cannot?
Basware covers Invoice capture, Matching, Approval workflow, E-invoicing compliance. Modern Treasury covers Multi-rail payment initiation, Bank connectivity, Ledgers, Automatic reconciliation.

Answered from the vendors’ own pages

Basware: Should we buy Basware if we only operate in one country?

Probably not. Its main advantage is multi-country e-invoicing compliance. In a single jurisdiction, cheaper AP automation gives you the same result.

Modern Treasury: Is Modern Treasury a bank or a banking as a service provider?

Neither. You hold your own bank accounts and it is software over them. That avoids sponsor bank concentration risk but means you need the bank relationship yourself.

Basware: Does it handle mandatory e-invoicing regimes?

Yes, and that is the core reason to choose it. It covers a wide set of national mandates as a service rather than an integration project you run yourself.

Modern Treasury: What does it cost?

Not published. A platform access fee plus usage fees across rails, on an annual term with a single minimum commitment. Negotiate the minimum, not the per-transaction rate.

Basware: What drives the price?

Invoice volume, number of countries and modules. It is quoted, and implementation with ERP connectors and supplier onboarding is separate.

Modern Treasury: Which rails are supported?

ACH, wires, RTP, FedNow, push to card, cheques and stablecoin payments, subject to what your bank supports.

Basware: What determines the return?

The share of invoices arriving electronically. Touchless rates depend on supplier adoption, so budget for a supplier onboarding programme, not just the software.

Modern Treasury: Do we still need our own compliance programme?

Yes. KYB, KYC and transaction monitoring are included in the platform, but you are the one holding the accounts and the regulatory obligation sits with you and your bank.

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