Stamford, Conn.—May 8, 2013—Basware, a provider of e-invoicing and purchase-to-pay solutions, launched its Basware Analytics reporting suite which enables employees across their business to improve cost management.
“Companies of all sizes need to closely manage and understand their costs and financial strategies to ride out fluctuations in the economy,” said Esa Tihilä, Chief Executive Officer of Basware. “Basware Analytics gives employees at every level accurate, up-to-date insight into the financial transactions and interactions that define the movement of cash in their businesses. Additionally, Basware Analytics processes spend, invoice and procurement data to give financial teams the insight that they need to make better decisions. With this data, organizations can strengthen their long-term financial performance.”
Basware Analytics provides deep analysis and insight across the vast range of Purchase-to-Pay (P2P) information to help businesses make smarter decisions. It combines transactional data across invoicing, procurement, accounts payable and trade networks to give financial leaders an accurate picture of financial performance.
Basware Analytics packages customizable dashboards tailored to specific job functions. Based on the role of the user, there is a pre-packaged configuration to give each user instant, impactful insight. These persona-oriented dashboards help to maximize the relevance for CFO’s, Financial Shared Service Center (FSSC) leaders, procurement professionals and any other business leaders looking for deep purchase-to-pay analytics. These dashboards include:
- CFO/CPO Spend Visibility: Financial leaders can get instant, cross-enterprise visibility of spend. They can break it down by location, category, supplier or organization; and view this over time and by value
- CFO/CPO Vendor Analysis: Financial leaders can identify supplier rationalization and negotiation opportunities by visualizing top suppliers by spend value and transaction volume
- FSSC/AP Manager Process Metrics: Department heads can drive continuous improvement and remove bottlenecks by visualizing average invoice cycle times, manual financial process efficiency, invoice cycle details by supplier and average invoice approval and review process duration
- Business Managers Tracking: Analyzing cost center spend by location, category and supplier enables cost center owners to spot cash-saving opportunities and support their budget management
Also available via tablet devices, users can access Basware Analytics to create reports on demand and in real time.
“Too many organizations get into trouble because they make quick, reckless changes that are based on gut-feel or inaccurate information,” Tihilä added. “Even if this helps cut headline costs initially, it can mean that a CEO has insufficient resources at his or her disposal to start growing the company again when times change. Basware Analytics has been developed to give business leaders the insights that they need to make smart, long-term decisions.”
Basware Analytics operates on Basware’s Alusta platform and will be available in the next release in June.