WARF improves and streamlines its invoice process management with Basware and Fluxym
The Wisconsin Alumni Research Foundation (WARF) was created by University of Wisconsin visionaries to enable the university’s research to solve the world’s problems.
Challenges
- Accelerate processes for handling, approving and tracking, reporting general expense invoices
- Centralize and streamline the invoice intake processes (PDF’s and Ledes)
- Reduce the manual tasks for handling, approving and tracking, reporting general expense invoices
- Improve the customer/supplier relationship
- Implement a tool that is scalable and that can grow with WARF.
Key Figures
- Turnover: USA $ 15 Millions
- Headcount: 70 employees
Context
- 10,000 invoices per year – 4,500 LEDES Invoices per year (legal electronic data exchange standard).
- ERP: SAGE
- Integration with Salesforce
Basware Modules
- Basware Invoice Automation
- Analytics
- Spend Plans
Responses
- Functional Scope: Dedicated Invoice processes for Non-PO, Check Requests, LEDES and WISER invoices for 3 companies in the US.
- Fluxym project methodology with Agile approach where the interfaces were built during the design to ensure optimal outcome, and the processes were built to tailor the robust need to multiple department based approvals using the AUR, Header based approvals and Dedicated Spend plan approvals.
Key Benefits
- A touchless WISER and LEDES invoice import into P2P using the dedicated CSV files and a range of coding instructions requested by WARF.
- WARF now has 85% of their invoices in electronic format in Basware, above and beyond their 74% forecasted benchmark.
- WARF AP team is now able to process the invoices with an average of 7.1 days in the P2P, as opposed to manual approvals via email and processing before transitioning to Basware. Their payments are ranging at 62% Paid On Time, close to the benchmark of 67%.
WARF was using two different approval software programs and we were seeking a single software system to create an efficient approval process.
The Fluxym consultants learned about our specific needs and worked diligently to get the customization we needed to work in Basware.
Lisa Owens
The invoice process is streamlined which allows the Accounts Payable staff to contribute more time to other strategic initiatives. Our approvers appreciate the ease of use of Basware so approvals are done quickly.
We can now provide more accurate financial reports to our stakeholders due to these improvements.
Account Payable Department