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 cant 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 KPIs for different customers and departments can be pulled out in no time, continued Kamau.
How do the new dashboards work?
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- AP Performance dashboard provides an intra-organizational benchmark for process durations within the customers 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.
Jeanne Bernish, NA Director of Communications