Your Guide to Navigating Today’s Economic Winds

Today’s macro-economic challenges resemble a tornado, encompassing a turbulent political landscape, social and environmental struggles, increased cyber threats and fraud, and the rapid evolution of artificial intelligence (AI). It’s a whirlwind of complexities with far-reaching consequences.

The impact?

The aftermath of this tornado includes:

• Strains on already stretched supply chains
• Increased competition attracting and difficulty empowering employees
• Navigating one of the most complex regulatory landscapes in history
• Little room for error, requiring a hawk’s eye-view of spend

How do we go from sheltering from the storm, to dancing in the rain?

Accounts Payable Automation

Transitioning from weathering the storm to thriving in its wake requires embracing Accounts Payable (AP) automation as more than just a ‘back-office’ function. Today, AP plays a pivotal role in strengthening the office of the CFO and shared services centers worldwide - especially for large, complex enterprises.

Examples of tangible benefits:

• Recovering $3.5 million in profits
• Achieving 25% monthly cost reductions

The key is an integrated Accounts Payable / Invoice Automation (APIA) solution. By itself, or combined with an existing procurement or ERP system, APIA streamlines finance workflows. It looks right into the eye of the storm, leveraging the latest technology and customized services and functions.

With a dedicated APIA solution, finance teams can drive organizational progress:

• Enhanced cost and process efficiencies​
• Foster responsible supplier practices
• Ensure compliance with global and niche regional mandates
• Combat sophisticated fraud schemes
• Gain insights into past, present and future spend, including ESG data
• Empower employees with AI-driven modernized experiences, boosting productivity

Industry Validation

For businesses seeking guidance, industry rankings like Spend Matters’ Map for AI/I2P serve as invaluable tools. In this report, the rankings are based on an extensive review of technical capabilities and references. Basware secured top scores in e-invoicing and services, underscoring its leadership in the industry.

In navigating today’s economic climate, clarity amidst the storm is essential. To learn more about how Basware can help, contact us today.