Game, Set, Matching: Become an Accounts Payable Champion with Basware

Somewhere between 20% and 30% of invoices present exceptions. And without an automated way to handle them, your organisation faces increased processing times and poor real-time visibility of your processes and cash-flow. But with Basware, all that changes.

There’s nothing more rewarding than watching your favourite sports team work together to defeat a top opponent. Champion teams have a few things in common. They have a strong determination. They set clear goals and commit to them. They work together, for each other. But, to ultimately lift the championship trophy, the team also needs a great coach, the right game plan, the right training program, and state-of-the-art tools.

Think of Basware as your teammate

We at Basware are here to help your team to be at the top of your game. Our commitment to you is to help you focus on the things that have the most impact for your organisation. We equip you with the best tools there are. We help you to get the most out of them, and we continuously develop our solutions so that you know that you always stay one step ahead.

Basware Purchase-to-Pay (P2P) solutions help you to enhance your performance and overcome more challenges. With Basware, you really can achieve 100% paperless processing, adopt 100% touchless processes, and gain 100% spend visibility. When you set the targets to become the best in the P2P league, we can help you get there.

A key step in the secret game plan for success is automation. At Basware, we’re a leading innovator in this area and we are on the cutting edge when it comes to automation to reach new heights of efficiency.

7 challenges Basware helps you win

Let’s have a look at how you can play smarter when processing your invoices. More specifically let’s take a look at seven challenges and how you can raise the game.

Spoiler alert: When you team up with Basware Purchase to Pay, the score is 7-0.

Challenge 1: Your invoices have no line-level details.

Traditional Matching: You end up with manual exception handling, as no link between order and invoice lines can be established.

Basware Purchase to Pay: An intelligent algorithm finds the right order lines with minimal invoice information. Invoice lines are created based on order lines. Score 1!

Challenge 2: Your Purchase Order is in Euros. The invoice arrives in US Dollars.

Traditional Matching: Swing and a miss. Traditional matching can’t deal with different currencies.

Basware Purchase-to-Pay: Currency deviation is recognised, and the Purchase Order is automatically adjusted to the currency in the invoice. Score 2!

Challenge 3: The Purchase Order has one tax rate and the invoice has another.

Traditional Matching: Yet again, this means hands-on work.

Basware Purchase to Pay: The tax difference is detected, and the General Ledger lines are automatically set up to reflect the correct tax. Another score!

Challenge 4:  You regularly buy silver with ever-changing daily prices. The price in the Purchase Order is never the same as in the invoices.

Traditional Matching: You guessed it. Manual exception handling will be needed from every invoice since the price per unit for the silver differs from the one in the PO. Frustrated yet?

Basware Purchase to Pay: An algorithm compares PO lines, delivery notes, and invoices, and will recognise the price fluctuation – here the price quoted in the delivery note holds the key to a successful match. Score number 4.

Challenge 5: The Purchase Order has one laptop on one line. The invoice has three lines: Laptop, mouse, and keyboard.

Traditional Matching: Once again, this fails since there are more lines in the invoice than in the Purchase Order.

Basware Purchase to Pay: We dynamically switch between line and header levels; the invoice will be matched since the total sum of the invoice matches the total in the Purchase Order. We’re on a roll here—0 traditional matching, 5 Basware.

Challenge 6: The invoice is for a car lease. But there is no Purchase Order, just a leasing contract.

Traditional Matching: No surprises here. Traditional matching will let you know that if there is no PO, there will be no payment – so the matching fails.

Basware Purchase to Pay: Successful automation again, thanks to Basware! In fact, when a repeated invoice comes in, it’s detected. Then, the system automatically notifies the user, proposing to set up a payment plan for the recurring costs. Once that’s done, every forthcoming invoice will be 100% automated.

Challenge 7: The invoice doesn’t have a Purchase Order and it is not even linked to an agreement

Traditional Matching: Have a guess. It’s a manual process. Again.

Basware Purchase to Pay: We end the game on a high note and a shutout of 0-7. Machine Learning creates the right GL Coding automatically and routes the invoice to the right approver –what we call SmartCoding.

Ready to learn more?

Your success is what keeps us going. We constantly innovate so that you can continue to perform at the peak of what’s humanly possible. Contact Basware today to discuss how we can support your dream team to become the champion of Accounts Payable with Basware Purchase-to-Pay. And learn more about how you can take your invoice automation to the next level.