Summary: Touchless Invoice Processing dashboard gives you an overview of KPIs relevant to touchless invoice processing. It is your AP performance cockpit allowing you to set KPI targets for your organizations, and suppliers ​and track the progress​. 

Filters

• Data Source Time Filter - Determines the amount data that's loaded on to a dashboard. The shorter the time period the better performing the dashboard is. 
• Time frame - Enables a user to select the time period for analyzing the data. 
• Organization Name - Enables filtering of the dashboard for selected organizations
• Supplier Name - Enables filtering of the dashboard for specific suppliers
• Target setting for the KPIs - Enables a user to set a target for the KPIs presented on the dashboard.  The set target value is shown as a line over the trend of the KPI.
  
  • Touchless target - Enables a user to set a target for touchless rate. 
  • E-invoice target - Enables a user to set a target for e-invoice rate.
  • Association target - Enables a user to set a target for association rate.
  • Process efficiency target - Enables a user to set a target for process efficiency rate.
  • On-time payment target - Enables a user to set a target for On-time payment rate.

1. Volume and value of invoices​

• Choose to show either the volume of invoices or the monetary value of invoices processed during the reporting period. The data is based on the transfer completed date for the invoices. Draft & removed invoices, or invoices that are still in workflow are not included.​
• Hover over each point in the graph to see the number or value of invoices processed in that month.​

How it's calculated?

Volume of invoices is calculated using the count of distinct invoice IDs. Invoice values is calculated by summing the net sum org value in all the invoices processed during the period.

2. Average invoice processing time​

• These visualizations show the average number of days to process an invoice during the reporting period. The data is based on the transfer completed date for the invoices. Invoices that were removed or are still in workflow are not included. ​
• At the top is the average days to process an invoice over the reporting period. The visual below breaks down the data by month. Hover over each vertical bar to see the processing time for that month.​
• ​The next visual breaks down the data by task. Select whether to show the average processing time per task or the number of invoices that went through each task. Hover over each horizontal bar to see the data for that task. If your process includes many tasks, scroll down to see all tasks.​

How it's calculated?

Invoice processing time is the time the invoice spent between the invoice creation date and completion of transfer.  If there are multiple transfers for an invoice, the latest transfer date is the one used.  Average of the processing time for all invoices for the reporting period is calculated to get the average invoice processing time.

2.1. Average available days to process

• The number of days the supplier has provided for you to pay the invoice, calculated from the days between the invoice creation date and due date.​

2.2 ​Average days to pay

• The number of days between the invoice creation date and payment date.​

3. Invoice origin environmental impact​

• Every invoice has an environmental impact that is affected by the invoice origin. E-invoicing uses fewer trees, less water, and has a lower carbon footprint than other invoicing methods.   'Your score' is the carbon footprint index per invoice  based on a Basware study on the carbon emissions produced by e-invoices and invoices from other origins. 'Basware community' is the average score of the emissions of all customers on the Basware network who have given permission for their data to be used in such anonymized benchmarking cases. ​
• ​Choose to show either total emissions or average emission per invoice. Also choose either top 10% or top 25% of Basware customers for comparison. If total emissions is chosen, the vertical bars represent your total carbon emissions per month.  The top part shows the percentage by which your emissions would be reduced if all your suppliers used e-invoicing. If average emission is chosen, then each bar shows the average emission per invoice per month. Average emission is calculated by dividing total emissions of all invoices by total number of invoices.​

How it's calculated?

• Invoice origin information is available in invoice data indicating which invoice receiving service was used to receive the invoice
• CO₂ emissions for e-invoices = Count of e-invoice * CO₂ emissions for e-invoice(based on the study it is .13)
• CO₂ emissions for non-e-invoices = Count of non-e-invoice * CO₂ emissions for non e-invoice(based on the study it is .205)
• Your score = (E-invoice CO₂ emissions + Other channel invoices CO₂ emissions)/Invoice count.

4. Key Performance Indicators

4.1. Touchless Rate

Percentage of invoices that go straight through without human intervention out of all invoices.​

How it's calculated?

An invoice is flagged as touchless if all the tasks undertaken during the processing of the invoice is automatic.

4.2. E-Invoice Rate

• Percentage of invoices that were delivered as e-invoices out of all invoices.​​
• E-invoices include the following invoice origins:​
• • Electronic invoice from direct Basware connection or virtual operator​
  • Electronic invoice from another e-invoice service provider (operator) network​
  • Electronic invoice from Peppol network​
  • Electronic invoice from point-to-point EDI integration​
  • Basware Supplier Portal key-in​
  • Basware Supplier Portal PO-flip​
  • Basware P2P chargeback​
• PDF invoices delivered by email, Basware Scan and Capture, or any other origins are not considered e-invoices.​

How it's calculated?

An invoice is flagged as e-invoice if the invoice origin information for the invoice indicates that it is received via any of the above mentioned invoice origins.

4.3. Association Rate

• Association Rate will be determined only by the rate of successful line associations. The automation rate is measured as percentage of invoice lines automatically associated out of all invoice lines that could be associated.​
• The percentage of invoice lines automatically associated to purchase order lines, goods receipts, and spend plans.  The association rate is based on the number of associated invoice lines, not invoice documents. Even if an invoice is cancelled and sent back to process several times, the association rate only considers the final outcome for the invoice. ​

How it's calculated?

Association rate is the number of invoice lines that is associated automatically to a PO or SP out of all invoice lines of PO-/ SP-invoices.

4.4. ​Process Efficiency

• Percentage of invoices transferred before the due date.​
• The decision on when to pay an invoice may typically be at the discretion of Treasury who may want to manage their cash-flow, especially during accounting closing periods. Your invoice processes should ensure the invoice is transferred early enough before the day when the organization will pay invoices.​

How it's calculated?

An invoice is flagged as transferred on time if it has a transfer date earlier than due date. Percentage of transferred-on-time invoices out of all invoices is calculated to get process efficiency KPI value.

4.5. On-time Payment

• Percentage of invoices that are paid before or on the invoice due date. If the payment date for an invoice is earlier than due date, then the invoice is paid on time​

How it's calculated?

An invoice is flagged as paid-on-time if it has a payment date earlier than due date. Percentage of paid-on-time invoices out of all invoices is calculated to get on-time payment rate KPI value.