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 analyze 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.
Supplier Quality and Performance
Realize 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 visualizing the future faster.
KPIs and Benchmarking
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 organizations to consider green values in addition to efficiency and savings when developing procurement and finance processes. Learn more about tracking your environmental impact.