Basware (Nasdaq:
BAS1V), the global leader in networked source-to-pay solutions,
e-invoicing and innovative financing services, has further enhanced its
industry-leading analytics solution and can now provide actionable
insights to manage KPIs and workloads in AP departments and financial
shared service centers. With the updated version the company introduces
two new dashboards to the Basware Analytics solutions: AP Performance
and AP Productivity.
“It is all about efficiency and productivity. You can’t achieve it
unless you automate AP department and shared service center processes
and know in detail where bottlenecks are and how invoices are being
handled. With the help of Basware Analytics, our customers have full
process overview and they can drill-down to details and get actionable
insights to improve their processes,” said Kevin Kamau, Product Manager,
Basware.
Basware has a long history of understanding the challenges of the
largest multi-national AP organizations.
“Basware Analytics enables monitoring of every step in the process.
These insights can be used to improve efficiency and service levels and
decrease invoice processing costs. It also provides comprehensive and
flexible reporting – reports and KPI’s for different customers and
departments can be pulled out in no time,” continued Kamau.
How do the new dashboards work?
-
AP Performance dashboard provides an intra-organizational benchmark
for process durations within the customer’s organization. For large
organizations — with dozens or hundreds of suppliers & subsidiaries
— the process set up is generally the same. For outliers, a
benchmarking process provides achievable duration targets. -
AP Productivity dashboard provides invoice backlog in detail. It
enables better tracking of invoice flow by providing visibility where
an invoice is pending action. It also allows prioritization of AP
based on a prediction of risk of late payment and identifies
availability for early payment discounts.
“Our integrated analytics delivers insights for both shared service
centers and customer organizations to improve spend, optimize P2P
process, and capture savings from early payment discounts to bottom
line,“ concluded Kamau.
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