Basware introduces new analytics dashboards

Gaining insight into non-PO invoices is a challenge for many companies and institutions. "About thirty percent of these non-PO invoices are repeated bi-weekly, monthly or bi-monthly," knows Kevin Kamau, P2P Analytics Product Manager at Basware. So the software vendor implemented enhancements for visualizing data related to payment plans.

The use of payment plans in Basware makes it possible to automate reciprocal non-PO invoices and gain visibility into that spending area. New analytical dashboards allow users to see high-level trends and view details about payment plans. This allows them to optimize payment plans and further expand the automation of the accounts payable department.

In Basware's Purchase-to-Pay solution, users can view two dashboards in relation to payment plans: the Spend Plan Summary dashboard and the Spend Plan Compliance dashboard. The former allows users to quickly view the active payment plans they have with various vendors, how much money is spent through payment plans, how much money is matched to payment plans and how much is left over.

The Spend Plan Compliance dashboard provides insight into why invoices associated with a payment plan do not match. This dashboard provides views to prevent a payment plan from failing and ensuring it is configured correctly to prevent over- or underpayment.

The new analysis of payment plans also introduces a new dashboard concept. With Example Dashboard, reports can be customized to improve analytics and gain better insight. Users can now customize template-ready dashboards, save them and then share them organization-wide.