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