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Press release content from Business Wire. The AP news staff was not involved in its creation.

Basware Introduces Spend Insights Dashboard to Provide Visual, Single View of Entire Spend & Cost-Cutting Recommendations

November 17, 2020 GMT
Transparency is top of mind for the C-suite. Leverage automation to gain 100% spend visibility. (Graphic: Basware & Harvard Business Review Analytic Services)
Transparency is top of mind for the C-suite. Leverage automation to gain 100% spend visibility. (Graphic: Basware & Harvard Business Review Analytic Services)

ESPOO, Finland--(BUSINESS WIRE)--Nov 17, 2020--

Basware (Nasdaq: BAS1V) has launched two enhancements to its Analytics solution: a new, highly visual Spend Insights dashboard and a new functionality to enable payment performance analysis. The Spend Insights dashboard provides a single view across an organization’s entire spend – direct, indirect, PO and non-PO – and recommendations on suggested actions, all designed to help procurement departments rapidly identify areas for potential savings. The payment performance feature now includes payment status and related details enabling the finance department to work with suppliers to improve data quality and the invoice submission process.

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This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201117005927/en/

Transparency is top of mind for the C-suite. Leverage automation to gain 100% spend visibility. (Graphic: Basware & Harvard Business Review Analytic Services)

“Spend consolidation has become one of the most important strategies for organizations given the recent widespread financial uncertainties,” states Sami Peltonen, VP of Purchase to Pay Product Management, Basware. “However, before cutting unnecessary costs, organizations are keen to understand exactly where they are spending their money. And that’s where the Spend Insights Dashboard comes into play – Spend insights is built on the backbone of Basware’s ability to capture 100% of an organization’s invoices to provide 100% spend visibility and enable what we call ’ Visible Commerce.’ The dashboard is revolutionary as it provides this complete visibility in an automated manner, allowing organizations to make more effective, data-backed decisions.”

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The Spend Insights dashboard presents the data in a new, simplified user interface that enables a logical flow to an organization’s data story; it provides granular details, such as visibility into authorized and contract-based spend, in very few clicks. In addition to facilitating a more intuitive spend analysis experience, the dashboard introduces dynamic, data-driven recommendations. It not only highlights an organization’s top spend drivers, but also offers recommendations on what actions they can take to optimize their supplier base and minimize risk. By providing easy-to-consume insights on-the-go, this dashboard makes the task of understanding spend much less cumbersome.

To learn more, read New Basware Analytics dashboard provides revolutionary 100% spend visibility on the blog.

About Basware:

Basware is the only procure-to-pay and e-invoicing solution provider that empowers businesses with 100% spend visibility through 100% supplier connectivity and 100% data capture. Our cloud-based technology enables organizations to fully manage their spend, mitigate financial risk and reduce the cost of operations via automation. With the world’s largest open business network and an open technology ecosystem, we are uniquely positioned to deliver the solution required for Visible Commerce, which provides customers with complete transparency into all the flows of money, goods, and services around the world. A global company, Basware has offices in 14 countries and is traded on the Helsinki exchange ( BAS1V: HE ).

View source version on businesswire.com:https://www.businesswire.com/news/home/20201117005927/en/

CONTACT: Jeanne Bernish

Media@Basware.com

KEYWORD: EUROPE FINLAND UNITED STATES NORTH AMERICA NORTH CAROLINA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY SOFTWARE BANKING ACCOUNTING

SOURCE: Basware

Copyright Business Wire 2020.

PUB: 11/17/2020 10:15 AM/DISC: 11/17/2020 10:15 AM

http://www.businesswire.com/news/home/20201117005927/en