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Procure to Pay
Predictive analytics, data, S2P ecosystems, smart processing, AI, and compliance – just a few of the upcoming trends that we at Basware predict will be on all modern businesses’ strategic plan for 2020.
Procurement
Basware introduces a new way to request quotes from suppliers during your sourcing process—Framework Agreements. Always ensure you get the best price and terms for the services you need through this new feature.
Based on popular discussions had at Basware Connect, we’ve come up with five hacks that you can use to make your purchase-to-pay processes more efficient and easier.
Basware’s new feature, SmartOrders, simplifies the purchase order process by allowing buyers to send POs via email and suppliers to receive, respond, and flip the PO into an invoice all from an actionable email.
Basware’s new Approval Confidence Index scoring makes it easy to choose items for purchase and approve or deny requests. Using transactional data, it scores transactions on a 1-10 scale for quick decision-making.
Procurement professionals should look to an Asset Management tool as a way to achieve their cost savings goals and get more spend under management.
Diagnose and cure supplier friction in procurement such as price negotiations, delayed payments, cash flow problems, mail room overload, and continuous inquiries to AP on payment status.
Organisations should view suppliers as strategic partners. In this post, we’re going to take a deeper dive into the process of segmenting suppliers to begin a supplier collaboration project.
The mandate to “increase supplier collaboration” is easier said than done. Learn how to increase supplier collaboration and where to start today in this blog post.