Tuesday 3rd October, 2017
Basware has announced the availability of peer benchmarking capabilities in its analytics solution for its cloud-based Source-to-Pay customers.
"The future is all about data – how companies capture it and how they use it. Basware’s out-of-the-box analytics with the new benchmarking capabilities enables users to track their performance against their peers and enables best-in-class performance across the source-to-pay process," says Ilari Nurmi, SVP of Purchase to Pay Business Area, Basware.
The September release brings the new analytical capabilities automatically for Basware’s cloud-based customer-base. Anonymised data about the best performing peers helps to compare organisation’s historical trend and the current performance in terms of spend control, accounts payable automation, on-time payments and supplier rate of using e-invoicing.
Sami Peltonen, VP of Purchase to Pay Product Management, Basware, said, "The introduction of benchmarking is an important step in the journey towards turning cloud services and analytics into sources of insights giving our customers a distinct advantage. With this level of insight, our customers reduce the cost of operations, spend smarter and build strong business relationships with suppliers."
"Our aim is to help customers harness the power of innovation like machine learning, advanced analytics and artificial intelligence, while providing them with a roadmap to success."