Insead boosts its performances in procurement processes with Basware and Fluxym
Challenges
- Standardize and centralize finance processes across 4 different countries
- Set up AP automation instead of manually processed invoices (print and scan)
- Set up procurement processes and best practices globally to improve performance and efficiencies
- Enhance the invoicing solution
- Improve spend visibility and forecasting
- Support the need for change management in users and a user-friendly solution
Key Figures
- Turnover: €282 Millions
- Headcount: 3,100 employees
Context
- Six entities deployed
- 40,000 annual invoices
- 8,000 annual POs
- ERP: Oracle EBS
- Lack of visibility on spend
Basware Modules
- Basware P2P
- Basware Marketplace
- Basware e-invoicing for receiving
- Basware Analytics
Responses
- Inclusion of all key participants across the different campuses in both the design and testing phases
- Implementation of a brand-new standard P2P world procurement process for all entities in Basware Procurement
- Definition of a standard invoice process for all entities in Basware Invoice
- Automation of the invoice receipt process with Basware E-invoicing for receiving
- Onboarding of suppliers for directly sent invoices with Basware portal with single sign on.
Key Benefits
- 100% spend visibility and improved forecasting
- 100% departments on-boarded
- 75% spend now under PO*
- From 12% to ~70% coverage*
- From 0% e-invoices to 20%*
- All categories of spending covered
- Large number of sourcing project with savings delivered
- Increased savings by time saved in processing invoices (overall cost reduction).
* Data from March 2021
Working with Basware and Fluxym, over the last 18 months, we laid everything on the table and studied our spend in detail; we looked at patterns and reassessed where our risks were. Our decentralized approach was very inharmonious. There were some excellent practices, but the practices were different in every department. A year on from the implementation, we have a successful P2P process across the entire school with every department on board.
Anne-Gaelle GONET, Global Procurement Director