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Visible Commerce

Complete visibility across all the flows of money, goods, and services around the world, leading to more effective and ethical decision making.

We’re striving to create a future where there’s complete transparency into the flow of money, goods and services around the world to enable compliance, accountability and responsibility, resulting in better outcomes for businesses and society. We call this Visible Commerce.

What is Visible Commerce?

A simple push of a button can transform businesses, economies, lives, and the world around us. All without us seeing a single thing. It's about time we looked deeper beneath the surface of business and used the information we have to make more efficient ethical decisions. 

Visible Commerce is a state where transparency and data lead to more effective and ethical decision making. At Basware, we believe that a world of transparent exchange of money, goods, and services, enabled by the ready availability of data, empowers people to make better business decisions, leading to a better world economy for everyone. 


USING TRANSPARENCY ENHANCES REPUTATION AND MANAGE RISK

The movement toward transparency is being driven by increasing customer concerns about the ethics of business and by the competitive advantages that transparency can bring to an organisation. 

With more companies digitising their operations, the amount of business data is rising sharply. At the same time, tax and invoicing regulations are pushing firms to prove that their operations and supply chains meet a growing range of standards. 

BUSINESSES ARE GENERATING MORE FINANCE AND OPERATIONS DATA T

BUSINESSES ARE GENERATING MORE FINANCE AND OPERATIONS DATA THAN EVER. BUT DOES IT STAND UP TO SCRUTINY?

To find out, we asked 400 finance and procurement professionals about global regulatory compliance, and their approaches to worldwide electronic invoicing mandates and supplier information management. 

EXPLORE THE RESEARCH FINDINGS

BASWARE VISIBLE COMMERCE CAPABILITIES

We've been helping our customers move towards a world of Visible Commerce for many years. One of the key elements of this shift is helping customers better understand, adjust their supply chains to better align with their goals and values as an organisation.

100% Spend Visibility

Too often, the big supply chain mistakes businesses make - be it fraud, inhumane work conditions, or life-threatening supply shortages - could have been avoided if companies had known where they were spending their money and who they were truly doing business with.  Basware provides a holistic view into 100% of your suppliers and spend from a single, centralised location to enable better strategic decision making. Armed with data and visibility into company spending, you will be in a better position to control your spend, mitigate risk, and manage the entire supply chain. 

Minimise Supply Chain Risk

With the data available within Basware solutions and our partner ecosystem, we can not only display financial information such as revenue and credit ratings for your supplier base but also continuously check the compliance of your suppliers. For example, you can monitor whether a supplier appears on one of the worldwide sanction lists, is connected to politically exposed persons, or stands out due to negative media coverage. This additional transparency is incredibly helpful for companies with a broad supplier base spread across many different regions and countries and maybe even across several ERP systems. Proactive notifications in these areas mentioned enable companies to take timely measures to remain true to their own compliance requirements and company values.

Environmental Sustainability

Visible Commerce can also help businesses be more environmentally sustainable -– tracking suppliers' credentials on greenhouse gas emissions, use of conflict minerals, water conservation, and many other metrics allow organisations' finance and procurement professionals to make informed decisions about who they do business with and what impact they have on the environment and in society. 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 carbon footprint over a period and compare that to the average of the Basware community to drive awareness of green values within the organisation. 

LEARN MORE > 

The move toward Visible Commerce is a necessary evolution now that technology is becoming embedded in our everyday lives. It will restore a sense of knowing the people behind the transactions, not just leave us as "a push-button Society.

JP Morris, Spend Matters