You cannot stand still – Change is inevitable

Vice President of Marketing Communications

Every year the Basware Experience (#BaswareEXP) brings together peers, industry leaders and Basware specialists to discuss how to take purchase to pay and e-invoicing performance to new levels.

At its heart, the Basware Experience is about the customers and their success. It's about the changing landscape and how businesses can unlock value and enhance their P2P and e-invoicing performance for more controlled and connected commerce.

If you didn’t make it to the events, to hear about great customer success, you are able to watch customer interviews.

The benefits of Accounts Payable automation and e-invoicing solutions are clear to most finance professionals, yet the number of companies who are still opening envelopes and sending paper around their organisations continues to dominate.

The Basware Experience is really about being a P2P Change Maker and leading the change. It is about being able to drive value added changes within the organisation.

Speaking at the most recent Basware Experience UK, Moolchand 'Rock' Persuad from Take2Interctaive said: "I came here to share my experience of implementing Basware back in 2008 and the positive changes that Basware has made at Take2Interactive Software."

According to Persuad, Take2Interactive has undergone a significant ERP upgrade this year. "The opportunity that came out of that is now we have the ability to upgrade to Basware Alusta, which I’m excited to say in now our company’s roadmap. What I hope 2015 will bring to finance will be; Basware Alusta along with e-invoicing, procurement and analytics," he added.

Being interviewed at another Basware event, Hans Hodes, a business consultant at Dutch telecoms company KPN echoed this sentiment. As well as cutting the company's bill for e-invoicing by two-thirds, KPN is working with Basware to switch from reactive to proactive offers.

"In the large enterprise corporate market, this is standard. Tell us which billing service provider you have or if you want direct service and we'll handle it," said. Hodes. "We now send 10,000 invoices a month through Basware. We expect that number to be four or five times higher next year."

Customers the world over have grappled with the challenges of control, compliance and visibility in the day-to-day business and are now looking at how they can create more value from their supply chain.

As a case in point, ADT and Tyco Fire set up a Shared Service Centre and implemented Basware invoice automation solution. As a result, they saved £400K annually and increased productivity. Invoice handling times have been reduced by 75 per cent and annual processing volumes quadrupled from 10,000 to over 40,000 per full-time employee.

Talking to customers on the floor at Basware Experience UK, its clear that the future of finance is about giving more opportunities for corporations to manage their working capital. This means buyers have more opportunities to look at payment terms while giving suppliers ways to have more predictable working capital.

As another customer at the event put it: "The thing I've learned from today is that change is inevitable, no matter what, it's happening. You can either control the change, or the change will control you – the one thing you won't be able to do, is stand still."