Introduction to the Purchase-to-Pay Model
Now, more than ever, cash is king. If you control your cash, you control your destiny. Yet despite their best efforts, four out of five companies still cannot accurately tally up their cash flow situation on demand. Excuses abound — different countries, different business units, different currencies. The underlying challenge is clear – uncertainty in cash outflows. You need to ask yourself – how certain are you?
Full spend and cash flow visibility in real-time is just one of the many clear benefits easily attained with a purchase-to-pay solution. Companies realize substantial gains as soon as they adopt basic e-invoicing practices and start automating their invoice processing. These gains are amplified as companies continue to further automate and integrate their Accounts Payable, Accounts Receivable and Procurement processes.
The road to Purchase-to-Pay success often travels through four key phases. Each one offers you substantial gains in agility, control, compliance, and visibility.
P2P Benchmarking
Benchmark your company processes against your peers for continued pursuit of excellence
Dynamic Payment Strategies
Capture and strategize early payment discounting for enhanced working capital and cash flow
Bottom Line Impact
Agility in financial process enables optimized cost savings and cash management for greater profitability
Global Commerce
Secure, manage, and develop the most competitive supply base anywhere in the world - connect & transact through Basware Open Network
Employee Expense Controls
Automate expense claims to eliminate error-prone manual data entry and processing
Cash Management Strategies
Unlock working capital when you achieve full cash flow forecasting and visibility across the P2P value chain
Contract Compliance
Manage contract terms with Contract Management – lock in compliance with eProcurement
Strategic & Tactical Sourcing
Apply best practice competitive sourcing techniques and strategies to configure your supply base for minimized cost and maximized value
Complex Category Coverage
Expand usage of procurement solutions across traditionally complex and poorly managed spend categories
Travel Policy Enforcement
Gain full compliance across travel expenses with automated processing and integrated corporate credit cards
Employee Mobility
Mobile Apps keeps you connected to your P2P processes anytime, anyplace, anywhere - remove false bottlenecks & delays
P2P Network Interoperability
Achieve friction-free agility through transmission of purchase orders and e-invoice across the Basware Open Network eco-system
Cash Flow Forecasting
Gain full visibility over cash outflows for more accurate cash forecasting and management
Straight Through Processing
Touch-less automated matching of e-invoices for faster workflows and rapid payment processing
Self Service Management of Catalogs
Suppliers can upload, validate, and manage their latest catalogs with Basware Connectivity solutions
Federated P2P Accountability
Empower line of business users at the point of need with full accountability for purchase-to-pay performance
Catalog-based Requisitioning
Speed up compliant purchasing across the business – direct from supplier catalogs
True e-invoicing
All invoices are received and sent electronically
Purchase Message Exchange
Send purchase orders and receive immediate confirmation, all electronically
Controlled Demand
Centralize your requisitioning through eProcurement for enhanced approval control and real-time inventory & budget checking
Visibility of Spend
Gain full visibility over your spend and cash flow with Invoice Automation
Intelligent Matching
Automate your invoice matching to purchase orders and contracts for greater process efficiency and savings
Enabled Suppliers
Segment, target, and activate suppliers for e-invoice processing through Basware Connectivity Services.
Intelligent Invoice Workflows
Go paperless – receive all your invoices electronically, and accelerate invoice-to-payment times through intelligent approval workflows
Payment Performance
Gain immediate visibility of on-time payment performance levels and take steps to secure early payment discounts
Invoice Scan & Capture
Achieve 100% electronic invoicing from Day 1 – outsource your scan & capture