P2P Insights Made Easy With Basware Analytics

Identify new opportunities to cut costs across the organisation with 100% spend visibility layered with advanced Basware Analytics. Basware’s predictive analytics and committed spend analysis deliver a 360° view of your organisation’s spend today and offer insights into the future, so you can make more strategic, data-driven decisions.

Specialised algorithms available as part of the analytics capabilities support your organisation in identifying and addressing bottlenecks in payment performance to ensure that incoming and outgoing payments are made correctly and on time. With late payments becoming a challenge for many businesses, the ability to increase on-time payment performance results in a significant boost to supplier satisfaction.

Basware Analytics provides you with supplier quality insights and the ability to better manage key suppliers. With Basware, you can easily monitor how suppliers are performing against their targets (e.g. order fulfillment accuracy or lead times) to negotiate favorable contracts with them. You can also build stronger relationships with key suppliers and reduce supply chain risk.

By analysing trends across spending, invoice cycle times, anticipated payments, and more, you'll be in a much better position to accurately predict how much cash is coming in and out of your organisation. And because Basware Analytics is integrated with your accounts payable and e-procurement solutions, you'll always have the most up-to-date information at your fingertips.

Basware Analytics combines spend from multiple platforms into one platform and provides your organisation with 100% spend visibility. It delivers a holistic view of realised and committed spend in one place (both direct and indirect spending) and provides visibility into spend by organisation, category, supplier, cost center, GL accounts, or by managed versus unmanaged spend.

Evaluate how you are spending money, who you are spending with, and how the cash flows in and out of the business. Easily identify areas of spend that are critical to your business to keep operations moving versus areas that are more discretionary and can be targeted for spend control and reductions.

Leverage historical data, machine learning, statistics, and analytics to create a predictive model to help forecast future events. Our predictive analytics and committed spend analysis give you a 360° view of spend today and offer insights to procurement and finance departments to analyse cash flow needs and make decisions for the future. You can use this information to prevent late payments, capture more early payment discounts, increase e-invoice rates, resolve process bottlenecks, and improve supplier relationships.

Realise more value from P2P and turn your procurement transaction data into insights on how money is being spent and how suppliers are performing. Supplier quality and performance dashboards help to measure lead time, order fulfillment, and delivery quality and performance. Procurement teams can use this data to set realistic goals with suppliers and develop better sourcing strategies, build high-performing supply chains, and reduce supply chain risk.

Out-of-the-box dashboards deliver immediate insights into P2P processes. Monitor every step in your AP process and provide insights to manage KPIs and workloads in AP departments and financial shared service centers. Basware Analytics provides information and insights regarding suppliers, spend, and payments. You will have visibility into the different reasons why invoice processing fails, and you can easily identify exceptions and resolve them.

Improve process efficiency and decrease invoice processing costs. Remove bottlenecks before problems occur and access reports and KPIs for different customers and departments with comprehensive and flexible reporting. Getting your data quicker through pre-established dashboards means you can start visualising the future faster.

Track your performance against the best-performing companies on the Basware Network and set realistic improvement goals and easily measure success. Benchmarking gives you efficiency targets, continual process improvement metrics, automation rates for goals like touchless invoice processing and spend under control, and performance percentages to see if you fall in the top 10% or 25% of highest performing companies.

By adopting electronic invoicing and onboarding more suppliers to e-invoicing you can also make a significant difference to the environment. With the carbon footprint index available as part of Basware Analytics, you can track your own carbon footprint over a period and compare that to the average of the Basware community. The CO2 index is a new way to drive organisations to consider green values in addition to efficiency and savings when developing procurement and finance processes. Learn more about tracking your environmental impact.