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Say hello to fully automated processes with Basware Touchless Invoicing. Learn more
It's what you need for strategic decision making and risk mitigation for today, tomorrow and the future.
Does your organisation have complete visibility into processes, suppliers and spend? Do you have the volume, quality, and completeness of data to streamline your P2P processes and leverage technological advances in the market? Are you able to make decisions with confidence, knowing you're seeing the full picture? If you answered 'no' it's time to learn how you can achieve 100% visibility today with Basware.
Visibility is the foundation from which you can achieve all of your strategic business goals - from gaining control to producing savings to generating working capital to propel your organisation ahead of the competition. It all starts with what you can see. If you're only seeing part of the picture, you're only going to get part of the way to your goals. You need to see everything; you need 100% spend visibility to enable Visible Commerce – a state of complete transparency across all the flows of money, goods, services globally.
A recent Harvard Business Review report finds that organisations working toward this total visibility are able to make more effective strategic decisions, and this transparency is a defining characteristic of winning businesses worldwide. Those that have invested in improving visibility across finance and procurement benefit from greater employee engagement, improved reputation, and revenue growth. Conversely, a lack of visibility across the supply chain, and the associated reputational risks, are recognised as a grave concern of chief executives and CFOs. Increasingly they are turning to their finance teams to explore the untapped potential of data-led insights and unlock the potential unrealised value that a better grasp of their operations could provide.
100% spend visibility starts by centrally capturing and leveraging all your transaction data - gathering as much financial data as possible into a single platform that is intelligent enough to aggregate this information and serve it up in a way that empowers you to get insights and take action. In order to reach a mature level of insight-driven data, you'll want a partner who understands this and is driving the future of sourcing, procurement, and finance.
The Basware Network is the largest global, compliant, open commerce network that enables you to interact and collaborate with 100% of your suppliers. The Basware Network is supported by easy onboarding services and there are no fees required to join. The network supports:
More than 2 million active buyers and suppliers
Over 220 interoperability partners
Invoicing in 175 countries across the world
Global formats for e-invoicing supported
Automatic global compliance in more than 50 countries
Most networks are only designed to serve the most sophisticated suppliers, who can send XML or EDI invoices, and excluding the long tail of suppliers. Basware, on the other hand, caters to all levels of supplier sophistication, from the largest multinational organisations to the smallest of mom and pop shops, and can support all invoice formats – making it the lowest friction option for all your suppliers.
Our procure-to-pay solutions fit seamlessly into the way that employees already do their job. They use the solution not because they are forced to, but because it’s the easiest way to order the goods and services they need and process and pay the invoices. In order to achieve 100% user adoption, Basware solutions is built with the end user in mind, not the procurement and AP professionals.
Basware Procurement and AP Automation solutions support a range of users from the professionals and power users to the casual business users and even subcontractors – giving them a user experience that fits seamlessly with the way they need to operate. All of this results in 100% user adoption, which means no more maverick, unapproved spending; no more surprise invoices; no more trying to force people into compliance - just easy processes and happy users.
Most P2P systems are only good at automating the invoices that originated from their indirect procurement solution, leaving out all your direct invoices, non-PO invoices, any facilities invoices, and invoices generated from external systems. Basware is truly the only P2P provider that can capture all of your spend, regardless of invoice type and format. All invoice types, whether they are direct or indirect, PO or non-PO, and all invoice formats, from paper to electronic, are processed through our true AP automation hub, capturing 100% of your data through a single solution in the process.
We also have the unique ability to integrate with multiple ERPs and other finance systems simultaneously, meaning you can truly capture all spend, match invoices, and automate approval workflows - consolidating your data in one platform.
When you're capturing 100% of your data, you're not only getting 100% spend visibility but are also seeing all the data related to all your processes. This means you can leverage the data and analytics capabilities to power continuous process improvement and drive processing efficiencies by monitoring metrics like:
How long it takes you to process an invoice
Which invoices are at risk to be paid late
How fast orders are being approved
How much you're paying for goods and services
How many exceptions you're handling each month
Who is maverick spending, and who is approving it
How suppliers are performing
And so much more...
The more processes that run through Basware's solutions, the better quality and completeness of data received. Emerging technologies like AI and machine learning feed on this historical trend data and need it to be effective. Data enables applications of these technologies like:
Artificial intelligence to extract and map data from PDF invoices, minimising manual effort and accelerating invoice processing
Guided purchasing to support users in quickly finding the items they need based on past purchases
Predictive analytics that allow you to see your spend trends and helps better inform future decisions based on past spend habits
Benchmarking your organisation’s performance against other organisations on the network
Smart coding technology that helps automate coding and minimise exception handling
Gaps in your data and processes open the door for risk and fraudulent activities. The more data you can aggregate and monitor, the more likely you are to spot unusual activity across your processes and minimise risk across your processes and supply chain.
Basware 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. With Basware you can also easily evaluate how you are spending money, who you are spending with, and how the cash flows in and out of the business.
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