Basware predicts 2017 will be the year of collaboration, data-driven analytics for business financeFocus on business ecosystems, customer experience, artificial intelligence among key trendsEspoo, Finland, 20 December, 2016 - Basware, the global ...
Basware predicts 2017 will be the year of collaboration, data-driven analytics for business finance
Focus on business ecosystems, customer experience, artificial intelligence among key trends
Espoo, Finland, 20 December, 2016 - Basware, the global leader in networked purchase-to-pay (P2P) solutions, e-invoicing and innovative financing services, predicts that the growing emphasis on analytics will drive internal collaboration across Procurement, Finance and Treasury functions, as well as externally through B2B networks. In addition, the industry will focus on the customer experience and incorporating Artificial Intelligence (AI) capabilities into solutions to help organizations derive more value from their data.
"Organizations must be agile to thrive in today's fast-paced environment," said Vesa Tykkyläinen, CEO of Basware. "This requires visibility across the entire purchase-to-pay process so they can take advantage of opportunities, address problems and make informed business decisions. At the same time, the need for companies to strengthen supplier engagement and to connect with their trading partners easily, transparently and in real time will only grow, furthering their focus on delivering a cloud-based, consumer-style buying experience over business networks."
Based on its industry leadership and insight from customer engagements, Basware has identified the following six key trends that will impact the B2B finance landscape in 2017:
- The push for transparency will accelerate analytics, collaboration internally and across business ecosystems
- The consumer experience rules
- AI and machine learning capabilities will enhance solutions
- Interest in blockchain will grow in the financial supply chain
- The wisdom of the crowd will encourage smart e-procurement
- Corporate social responsibility will continue to be of key concern
Companies are continuing to focus on corporate social responsibility (CSR) and corporate social consciousness as they consider their impact on social and environmental concerns. Their efforts to reduce waste and create a paperless business environment will increase interest in paperless invoicing and other processes. This growing emphasis on CSR will not only impact the types of products companies sell and how they interact with the environment, but also the companies they choose to do business with, as they examine the carbon footprint and CSR initiatives of their trading partners.
Basware is the global leader in providing networked purchase-to-pay solutions, e-invoicing and innovative financing services. Basware's commerce and financing network connects businesses in over 100 countries and territories around the globe. As the largest open business network in the world, Basware provides scale and reach for organizations of all sizes, enabling them to grow their business and unlock value across their operations by simplifying and streamlining financial processes. Small and large companies around the world achieve significant cost savings, more flexible payment terms, greater efficiencies and closer relationships with their suppliers. Find out more at www.basware.com.
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Source: Basware via Globenewswire
Source(s) : Basware
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