Future-proof Your S2P Strategy with a Best of Breed Ecosystem Approach

The greatest benefit of source-to-pay automation is the collection and aggregation of financial data across your entire operations in one single platform. Basware is the only solution with the capabilities to capture 100% of your data, regardless of data source and empower you with a centralised core of insight.

When you're able to on-board all of your suppliers, capture all invoices from direct and indirect spending, you can achieve 100% visibility across all of your spend and suppliers.

Basware captures 100% of spend and supplier data at the central core giving 100% data visibility. With Basware, you can use your financial data, to create a range of reports and dashboards to help you analyze key procurement, AP, and finance metrics. Basware also helps you turn the data into actionable insights, enabling you to improve processes, identify and address bottlenecks, analyze spending patterns, and manage both cashflow and suppliers better.

Basware Analytics enables you with insights and the ability to track progress against goals, benchmark your success over time and against top performing companies, streamline processes and more.

S2P automation eliminates repetitive, manual activities that slow-down your process, which increase processing costs and make it difficult to make strategic decisions.

Paper-based processes inhibit resource optimization and if you aren’t already leveraging the benefits of automation your employees are spending time on tactical data entry reducing productivity and strategic gains.

Basware allows you to benefit from programmed, automated workflows so processes are streamlined and accelerated, errors and exceptions are reduced, and contract compliance is increased through usage of preferred suppliers.

With visibility at every stage, you can use the centralised core to identify and resolve any challenges around lengthy processing cycles, late payment fees, duplicates and more.

As supply chains become more complex, they also become vulnerable to third party risks with suppliers from all over the world delivering to locations globally. Having visibility over all your suppliers and the tools to manage them effectively is becoming increasingly more critical. 

Basware enables you to connect to all your suppliers and consolidate all supplier data, for easy access. With Basware Supplier Management you can gain visibility over your entire supply chain and leverage tools to manage all suppliers from a centralised location. 

With Basware, you can automate the supplier management process and free up time spent on maintaining supplier information. Supplier data is validated against and enriched using external sources like Dun and Bradstreet or other 3rd party data risk companies and can be used to receive insights into possible duplicates, missing supplier data, and supplier risk and compliance scores. You can use this data to take corrective actions, minimize risk and reduce fraud. 

At Basware, we believe in strategic partnering for better problem-solving. We have cultivated relationships with experts in the end-to-end source-to-pay digital transformation experience, including strategic sourcing, contract lifecycle management, spend analytics, payments and financing services.

It is our goal to not only provide best-in-class solutions for our customers, but to enable them to have the best experience and adoption possible with the assistance of experts in change management, solution implementation, program management, project governance, stakeholder management, risk assessment, and business transformation.

As a global company with users in over 175 countries and multi-language and multi-currency support, Basware offers customers the strongest global compliance offering with updated tax and legislation regulations for all countries worldwide.

We received top scores in for our globalization capabilities and global deployment in “The Forrester Wave™: eProcurement, Q4 2019” and the “2019 Gartner Magic Quadrant for Procure-to-Pay Suites report”.

Additionally, we offer customer support in 8 languages.

One of the biggest benefits about this holistic approach is that you can start small, in phased rolls outs or add on to existing systems.

Through our open API, integration capabilities and the Basware Network we can co-exist alongside existing ERP systems, S2P modules and processes.

The idea of a Best-of-breed ecosystem has been gaining traction since analysts cited that no single vendor can truly offer a full source-to-pay suite that is best in class across all modules and stages of the S2P process.

This is not the fault of single-suite vendors, rather a reality of the change in demand and increased complexity that businesses are now grappling with. The more progressive, agile companies are already aware of this and are actively forging partnerships with best-of-breed technologies to reflect this shift and modernize the S2P process.

Visionary CFOs and CPOs today are embracing this new architecture to avoid over-investment in technology that has the potential to become rapidly outdated.

If you are unwilling to commit to the huge financial investment of a single-suite solution and would like to modernize your S2P processes and build your S2P around your company – speak to one of our consultants here.