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Transform your Source-to-Pay Processes and Gain 100% Visibility

Automate and streamline the entire source-to-pay cycle with Basware, gaining visibility across the entire process including 100% of suppliers & spend.

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What is Source-to-Pay?

Source-to-pay, commonly referred to as S2P, is the end-to-end process and stages that organizations go through to source, order and pay for goods or services.

A full S2P process includes and covers all procure-to-pay stages, but includes the addition of strategic sourcing and vendor selection at the front-end of the procure-to-pay process giving 100% spend visibility from the point of vendor onboarding and selection to payment.

A Full Source-to-Pay Process Flow

McKinsey&Company states that a full S2P system usually comprises of the following stages:

Source to Pay Features

Features of Source-To-Pay Automation

A full source-to-pay automation solution will deliver a breadth of functionality across sourcing, procurement and accounts payable, including the following:

  • Strategic sourcing and Contract Lifecycle management (CLM) to help and support vendor relationships and negotiation stages.

  • Electronic procurement to support purchase requisition generation and approval to support the ordering of goods and services.

  • Ability to generate Purchase Orders (POs) and transmit them to suppliers.

  • Invoice receipt, matching/validating POs against invoices, and workflows for invoice exception handling and non-PO based invoices.

  • Payment processing and reconciliation, early payment discount management and working capital optimization.

  • Supplier information management (SIM) to understand suppliers’ background and stability and minimize supply chain risk.

Basware Source-to-Pay (S2P) Ecosystem Approach

No single vendor truly offers a full source-to-pay suite that is best in class across all modules and stages of the S2P process. According to Gartner: “There continues to be a trend within some customer companies towards full-suite vendors, but full suite providers need to do lot of compromises and often the integrations are only half-way done. It makes more sense to build an ecosystem with strong core P2P and plugging specialist vendors on it.”  

To accommodate this multivendor approach, Basware supports an open S2P ecosystem philosophy driven by open architecture, prioritizing expertise via co-existence. Instead of forcing our clients to adopt a single suite, we enable our clients to embrace a ‘best of breed’ ecosystem, so they benefit from the latest and greatest innovations across the S2P cycle, while gaining the benefits of a strong  procure-to-pay (P2P) solution at the core.  

Benefits of the ecosystem approach  

  • Ensures you get the most innovative technology on the market, now and into the future 

  • Minimizes risk with our proven integration methodology 

  • Achieves true 100% visibility of your organization’s suppliers and spend  

  • Drives touchless processing so your staff can focus on more strategic initiatives

Basware S2P Solutions

Holistic S2P Ecosystem

Basware’s ecosystem philosophy is powered by a data-driven core that centralizes processes and spend visibility using the above Basware procure-to-pay solutions (business network, electronic procurement, AP automation and analytics). This centralised core expands into and complements all S2P stages, using our open API and seamless integration capabilities. 

Through the ecosystem approach, customers can expand their P2P processes to broader S2P functionality through value-added services like contract lifecycle management, strategic sourcing, supplier risk management by using our preferred partners or a suitable, alternative partner nominated by the customer. This expansion is powered by our integration capabilities that ensure the process is seamless, the various modules entwine, and all data is centralised and visible.

Learn more about our best-of-breed ecosystem approach

Basware Network

The Basware Network gives you access to 220+ global partner networks and over 2 million buyers and suppliers. Leverage the largest global, open commerce network to interact and collaborate with all your suppliers – from the largest to the smallest. The Basware Network is supported by easy onboarding services and there are no fees required to join. 

The Basware Network is used in 175 countries across the world and supports multi-language and multi-currency invoice processing, with UI in 25 languages and multi-language customer support. We also offer the strongest global compliance with connections to government hubs that automate tax and compliance requirements across the world.

AP Automation

Basware Accounts Payable (AP) Automation solution accelerates your invoice processing cycles by eliminating manual AP processes across invoice receipt and approval. Basware solutions increase straight-through processing of invoices and minimize exceptions – by applying intelligent logic to automatically route, code, match, and approve invoices.

More touchless processing of invoices allows your limited AP staff to focus on value-added activities such as resolving exceptions, analyzing spend, and managing supplier relationships.

Electronic Procurement

Basware offers an advanced electronic procurement (e-procurement) solution to automate the entire procurement process from catalog and requisition management all the way through fast approval workflows, purchase order (PO) and goods receipt management, spend analytics, and beyond.

E-Procurement with Basware offers a compliant, consumer-like shopping experience, guided purchasing and advanced search capabilities, so that users can easily and quickly find what they need to purchase. This drives user adoption and compliance with purchasing policies, to reduce maverick spending.

Analytics

Having the right data to make informed decisions is critical to staying agile in an ever-changing business world. Basware Analytics is you powerhouse for actionable insights to support company-wide agility. Using your financial data, a range of staple reports and dashboards, you can analyze key procurement, AP, and finance metrics.

Perform granular analysis of your data to improve processes, identify and correct issues, analyze spending patterns, forecast cash flow, and make informed decisions.

Basware Analytics enables you to easily track progress against goals, benchmark your success against top performing companies on the Basware Network, streamline processes, spend smarter, and much more.

With greatly diversified operations, we work with a large variety of suppliers. Basware's centralized system and automated processes have helped us gain a much better view of our supply chain as well as finance operations.

Evelyn Rorvik, Controller, Aker Seafoods

Benefits of Source-to-Pay Automation

100% Spend Visibility

The greatest benefit of S2P automation is the collection and aggregation of financial data across all your operations in a single platform. Basware is the only solution capable of capturing 100% of your data - empowering strategic decisions for all departments.

When you onboard all your suppliers, capture all invoices from direct and indirect spending, and achieve user adoption on our e-procurement solution, you can achieve 100% visibility across all your enterprise spend, enabling you to:

  • Understand how money is being used and eliminate wasteful spending

  • Right-size the supply base and get volume discounts

  • Ensure on-time, accurate payments and forecast cash flow reliably

  • Source strategic partnerships and innovation

Mitigate Supply Chain Risk

Use Basware to quickly understand your supplier base. Suppliers experiencing trading or geographic challenges may require special focus, so Basware solutions bring visibility to the entire S2P cycle, helping to identify if there is a need to offer flexibility in supplier relations or payments (I.e. early payment discounts).

By moving away from paper-based, manual processes you have a complete electronic audit trail, meaning you know exactly who you are doing business with - at all times. You can further use features like Supplier Relationship Management (SRM) to check supplier backgrounds, validate supplier data and increase supplier transparency.

Improve Productivity Levels

Source-to-pay automation eliminates the tedious, manual activities that slow-down your processes, run-up costs, and make business difficult.

Once your workflows are automated for optimal speed and efficiency, you can expect to:

  • Dramatically reduce cycle times and pay suppliers faster.
  • Avoid late fees, lost invoices, duplicate payments, and other similar issues.
  • Drive savings from discounts and release working capital.
Gartner Magic Quadrant for P2P

Gartner Magic Quadrant for P2P

Forrester 2017 Vendor Report

Forrester 2017 Vendor Report

Leader in the 2018 IDC MarketScape

Leader in the 2018 IDC MarketScape