Basware, the global leader in networked source-to-pay solutions, e-invoicing and innovative financing services, has released enhancements to visualize data related to payment plans, helping customers to get the most out of this functionality in Basware’s Purchase-to-pay (P2P) solution. With these new dashboards, customers can see high-level trends and dig into details regarding payment plans.
“Getting visibility into non-PO invoices is a challenge for many organizations, and around 30% of those invoices are repeated on a monthly, bi-monthly or bi-weekly basis. By using payment plans it is possible to automate these recurring non-PO invoices and get visibility into that area of spending.
The new analytics dashboards empower customers to optimize those payment plans and take accounts payable automation even further,” says Kevin Kamau, Product Manager of P2P Analytics at Basware.
In Basware’s Purchase-to-Pay solution, users can view two dashboards in relation to payment plans:
- Payment Plan summary dashboard enables users to quickly see the active payment plans they have with various suppliers and get answers to questions like how much spend is committed via payment plans, how much spend is being matched to payment plans and how much is remaining on each plan
- Payment Plan Compliance dashboard gives visibility into why invoices that are associated to a payment plan are not matching. “This dashboard offers views to ensure payment plans are not failing and are properly configured to prevent over or under payment, allowing you to maximize the benefit of automation,” continues Kamau.
The new payment plan analytics also introduce a new dashboard concept – Example Dashboard – which allows customization of the reports to enhance analysis and provide deeper insights. Users can now modify the template-ready dashboards, save and share them within their organizations.
To learn more about Basware’s new Analytics Dashboards for Payment Plans, visit the Basware blog.