The steps financial leaders can take to unlock value and drive growth
Tuesday, 12 Apr 2016
CFOs and financial leaders are very focused on developing systems and processes to manage cash as it flows through the organization. However, many still don’t have the visibility and control that they need to drive savings and free up working capital.
Vice President, Global Product Marketing
If you think about a typical business expense - like training or airfare or buying pencils - the first time accounts payables hears about it is when they see the invoice. That means the business can’t plan for pending payment obligations, or take steps to reduce them. In addition, they may be missing opportunities to improve their company’s financial performance.
Research shows that quite a few companies have a lot more cash than they think they do, often hidden in the supply chain - in paper-based processing, in manual workflows, or in missed early payment discounts.
Companies that can free up that cash are able to reduce operational risk and create value by investing in the business.
At Basware, we’ve identified four stages that organizations go through as they become more automated and collaborative in their financial and procurement processes.
We describe these four stages in our free e-book: A Guide to Networked Purchase-to-Pay. Download your free copy today!