- Valta Technology Group partners with Basware to drive procurement and accounts payable transformation for superannuation funds*
Financial process automation experts, Valta Technology Group (Valtatech), has partnered with Basware, the global leader in networked source-to-pay solutions, e-invoicing and innovative financing services, to drive procurement and accounts payable transformation for superannuation funds.
Valtatech and Basware’s new partnership will provide a bespoke, digital transformation solution for Australia’s hyper competitive superannuation landscape. Enabling funds to gain competitive advantages, both in terms of their bottom line, and the value or experience they offer their members; while providing the visibility and insights fund managers require to improve risk mitigation, due diligence processes and governance.
Source-to-pay and procure-to-pay technology and process expert, Jussi Karjalainen, Founder and Managing Partner of Valtatech, says: “Australian superfunds are facing intense scrutiny and the demand for digital transformation in the superannuation sector has never been greater. We are delighted to be expanding our partnership with Basware – a proven, best of breed source-to-pay and procure-to-pay solution provider – on our continued mission to support the industry on its digital transformation journey. Our teams are now fully focused on making this project a total success for a number of funds, their suppliers and their members.”
The new superannuation digital transformation solution includes the following capabilities:
- A full procure-to-pay system including financial governance/approval steps
- A contract management repository to help speed up contract negotiations and link contracts with the full source-to-pay value chain
- Simplified options for tactical contracting, to ensure contract terms are adhered to and that the business can move at speed
- A systemised supplier relationship management framework to better track and measure supplier performance
- Harnessing data to enhance fund’s ability to build insights to better inform budgeting, financial performance, procurement activities and decisions
- Integration with any superfund’s enterprise resource planning (ERP) system, while providing improved insight and controls across sourcing, contract management, purchasing, accounts payable automation, analytics and supplier relationship management, supplier catalogue enablement and electronic invoicing (e-invoicing)
Holger Hilble, Basware’s Regional Head of Partnerships and Alliances, APAC & Japan, adds: “Reducing costs, identifying risks and improving value delivery across a fund’s back office has never been so important. Basware’s networked source-to-pay solutions, e-invoicing and innovative financing services empowers organizations with 100% spend visibility by enabling the capture of all financial data across procurement, finance, accounts payable and accounts receivable functions. We are delighted to bring this together with Valtatech’s proven record of delivering procurement and accounts payable transformation for superannuation funds, it is truly a winning formula.”
Today’s news sees Valtatech and Basware build on their existing partnership in the APAC region, implementing, integrating and managing source-to-pay solutions across the Enterprise. Driving automation and enabling greater efficiencies for businesses of all sizes, across their accounts payable, financial and procurement process functions.
Valtatech’s team of experts have completed more than 80 finance and procurement transformation and shared services projects, in Europe and in the Asia Pacific. Leveraging the latest technology and their expertise to deliver and implement some of the most recognised source-to-pay, procure-to-pay, finance and back office automation projects in the region.
About Valta Technology Group
Valta Technology Group is a Source to Pay advisory and Managed Services provider specialising in implementing and building value cases for its customer to achieve world class source-to-pay and procure-to-pay processes. With offices in Melbourne, Australia and Manila, Philippines, Valtatech offers leading managed technology solutions, best practice advisory services assisting organisation across Asia Pacific to automate their finance and procurement functions.