Study highlights significant savings and benefits for companies
adopting Basware Purchase-to-Pay (P2P) and e-invoicing solutions
Basware,
the leading provider of e-invoicing and purchase-to-pay solutions, today
announced the results of a commissioned study conducted by Forrester
Consulting on behalf of Basware, titled The Total Economic Impact™ of
Basware’s Integrated Purchase-to-Pay (P2P) Software Solution (September
2015). The study, as a result of in-depth interviews conducted by
Forrester with executives from four Basware customers, examines the
potential return on investment (ROI) organizations may realize by
deploying an integrated P2P solution. The study concludes that Basware
generated a risk-adjusted return on investment (ROI) of 277 per cent
with a payback time of 15 months and €3.2 million in net present value
(NPV) for companies using its P2P solutions over a three-year term.
A commissioned study conducted by Forrester Consulting on behalf of
Basware reveals that organizations that have close ties between
procurement and accounts payables (AP) functions gain significant
savings and more optimized spend management. Moreover, the set-up in
procurement and AP functions should be detailed in order to ensure that
automation is effective. This will result in increased compliance
throughout both functions.
Among the key benefits highlighted in the study, which analyses how P2P
solutions benefit current Basware customers, are the following:
-
Accounts payable productivity gains of approximately €560,000: with
the introduction of the Basware P2P solution, a composite organization
is able to increase the proportion of e-invoices from initially 30 per
cent up to 80 per cent in the third year.
“Our invoice
handling process has been streamlined. Invoices can now be matched
automatically to a purchase order or a contract and we have uniform
working practices. Our AP personnel has become more productive and
over the years their number has decreased. We actually think that the
role of the AP professional has changed a lot, because before, they
had to do basic invoice data handling. But nowadays, it’s more like
expert services such as analyzing the data and handling deviations in
the process.”
- Development Manager at a large property
management company
-
Incremental early pay discounts of about €850,000: prior to the
introduction of the Basware P2P solution, the company achieved 30 per
cent of the available early pay discounts; this percentage increased
to 80 per cent in the third year.
“We systematically go after achieving early pay discounts. In the
past, we captured about 50% of all early pay discounts that were
available to us; with Basware, we were able to push it to 95%.”
-Manager Finance at a large manufacturing company
Esa Tihilä, CEO, Basware Corporation, comments: “It’s clear that the
benefits of not only implementing Basware solutions, but also bringing
together accounts payable and procurement, can be far reaching, and have
a major impact on the profitability of an organization. Organizations
need to consider a mixture of better processes and making sure the right
technology is in place. That way, those benefits that are clearly very
valuable can reach multiple departments throughout the business. With
Basware Purchase-to-Pay and e-invoicing solutions organizations are able
to automate processes, gain visibility, and realize significant cost
savings.”
More information:
Read the commissioned study conducted by Forrester Consulting, The
Total Economic Impact™ of Basware’s Integrated Purchase-to-Pay (P2P)
Software Solution (September 2015).
To find out more about the study and the return on investment achieved
by the companies analyzed, please join the Basware
webinar on the 15th October 2015.
About Basware
Basware is the global leader in providing purchase-to-pay and
e-invoicing solutions in the world of commerce. We empower companies to
unlock value across their financial operations by simplifying and
streamlining key financial processes. We help our customers to succeed
and create added value to their business through better financial
management. Our Basware Commerce Network, the largest open business
network in the world, connects 1 million companies across 100 countries
and enables easy collaboration between buyers and suppliers of all
sizes. Through this network, leading companies around the world achieve
new levels of spend control, efficiency, and closer relations with their
suppliers. With Basware, businesses can introduce completely new ways of
buying and selling to achieve significant cost savings and boost their
cash flow.
Find out how Basware helps money move more easily and lets commerce flow
at www.basware.com.
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