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Basware Analytics Dashboard Offers Predictive Analytics Using Committed Spend

24-Oct-2018
Basware Analytics Dashboard Offers Predictive Analytics Using Committed Spend
Basware, the global leader in networked source-to-pay solutions, e-invoicing and innovative financing services, introduced Committed Spend, an analytics tool used to analyze absolute spend, identify the different entities driving spend and follow where spend is increasing/decreasing.

“The rapid pace of digitalization and globalization is bringing ever increasing demand for data-based insight and, with Basware, companies are working with 100% of direct and indirect spend data,” said Teemu Toroi, Director, Data & Analytics Product Line Management. “With Committed Spend, analytics dashboards now include predictive analytics with an extended view into all open commitments, regardless of source.”

This predictive data will support the daily operations and operative planning, budget follow-up and cost control as well as cash forecasting. Having the full view to all the open spend, both direct and indirect, will provide valuable insights to improve reporting, forecasting and spend optimization. One comprehensive view into all open commitments (payment plans, purchase orders and invoices) - regardless of its source - is a key feature. Users can predict open commitments on a unified timeline and categorize the commitments based on different phases of the process.

The Committed Spend overview dashboard is part of the Basware Analytics Spend dashboard which enables business managers, cost center owners, CPOs and CFOs to analyze absolute spend, identify the different entities driving spend and follow where spend is increasing/decreasing.