Tableau > Case Studies > Basware's Innovative Approach to Financial Process Digitization with Tableau

Basware's Innovative Approach to Financial Process Digitization with Tableau

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Technology Category
  • Analytics & Modeling - Edge Analytics
  • Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries
  • Cement
  • Finance & Insurance
Applicable Functions
  • Procurement
  • Product Research & Development
Use Cases
  • Leasing Finance Automation
  • Supply Chain Visibility
About The Customer
Basware's customers are businesses looking to digitize their financial processes to drive compliance, facilitate better process automation, and optimize overall data quality. They are spread across more than 175 countries, with the company supporting over 2,500 customers. These businesses range from small to large scale, operating in various industries. They require a comprehensive overview of their financial data, from procurement to payment, and need to make quick, informed decisions to streamline their payment processes. The customers also need complete visibility of both direct and indirect spending, especially in the wake of the COVID-19 pandemic.
The Challenge
Basware, a global provider of SaaS solutions, helps businesses digitize their financial processes to drive compliance, facilitate better process automation, and optimize overall data quality. The company supports over 2,500 customers across more than 175 countries. However, the challenge was to provide these customers with a complete overview of their financial data, from procurement-to-payment (P2P), via a single, central platform. The goal was to enable customers to make faster, more informed decisions and streamline payment processes. The ongoing COVID-19 pandemic further emphasized the need for organizations to have complete visibility of both direct and indirect spending, making accurate analytics essential.
The Solution
Basware chose Tableau embedded analytics to power its Basware Analytics solution. This innovative P2P solution consolidates and automates finance and procurement functions across large IT environments, providing 100 percent visibility to customers on where their spend is going and exactly who they are doing business with. Basware Analytics is fully integrated into Basware’s P2P suite, utilizing Tableau embedded analytics to provide customers with vital business intelligence in key operational areas. These include ‘spend insights’, ‘process insights’, and ‘financial insights’. Recent features added include a ‘payment performance analysis’ dashboard and ‘committed spend analytics’, all curated through a single Tableau dashboard, providing a unified view that helps finance teams understand their ongoing currency exposure and cash reserve needs.
Operational Impact
  • The implementation of Tableau embedded analytics in Basware's P2P suite has resulted in a comprehensive solution that provides customers with vital business intelligence in key operational areas. This has enabled customers to have complete visibility of their spending, helping them make faster, more informed decisions and streamline payment processes. The solution has also allowed customers to identify process inefficiencies and bottlenecks, enabling accurate forecasting of committed spend. The addition of new features like the 'payment performance analysis' dashboard and 'committed spend analytics' has further enhanced the capabilities of the solution, providing a unified view that helps finance teams understand their ongoing currency exposure and cash reserve needs.
Quantitative Benefit
  • 100 percent spend visibility delivered via single analytics platform
  • Insights gained help customers achieve ROI of 315 percent
  • Net sales topped €151 million in 2020

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