Anu Linjamäki
Product Marketing Manager, Sales Enablement

We are excited to have just published the Basware commissioned study conducted by Forrester Consulting titled “The Total Economic Impact of Basware Purchase-to-Pay (P2P) Software Solution”. The study, based on a composite organization, reveals a positive financial result over three years of 277 % ROI.

Visibility increases when Accounts Payable and Procurement work together

The study also shows how vital the collaboration between Accounts Payable and Procurement departments is in order to gain process as well as cost savings. A regional procurement director at a leading facility services company states in the study: “The Basware P2P solution did not only help us to automate invoice matching and ensure that we pay the negotiated price, but also enables us to drive more of our spend to the preferred vendors.” This is a perfect example what Accounts Payable and Procurement collaboration can bring to life!

When Accounts Payable and Procurement don’t work together, they miss the benefits that tapping into each other’s information brings.  Working in silos, the departments don’t have a clear view of the big picture. In fact, they don’t even have a good view of the details – of a particular order or of a specific invoice. And when looking at the benefits of a Purchase-to-Pay solution, most of them can actually be realized by integrating these two silos together.

Spend control is at the heart of the matter

Take spend control, for example. Category managers can actually get visibility into their category’s spend by looking at the paid invoices. This enables them to ensure compliance to the agreed contracts. On the other side, when Accounts Payable Managers have a reference – for example, a PO -  they can check an invoice’s validity and approve it for payment. This decreases the opportunity for fraud. 

Successful supplier on-boarding?

Or let’s take my favorite example. E-invoicing is often thought of as an AP-driven initiative.  But, how about working with Procurement who already have established contacts to suppliers? Accounts Payable organizations can identify the sources of the most invoice volumes and point those suppliers to Procurement. Procurement managers could then mandate e-invoices when they negotiate the supplier agreements. After all, the likelihood of getting your suppliers to commit to e-invoicing is much higher when the discussion is tied to the overall business negotiation.

A Manager, finance at a large manufacturing company quoted in the study: “In the past, we had a lot of unproductive discussions between the accounts payable and the procurement teams. They now work together much closer and have a better understanding of each other’s processes. The whole atmosphere improved.” We at Basware are very proud of our customers who have achieved better collaboration and performance in their P2P processes and we are extremely proud to help them as catalysts for the improvement.

Do you want to learn more about how Basware could help you achieve 277% ROI over three years? You can download the study »