Industry:
Education
INSEAD implemented Basware P2P with the help of Fluxym to unify the school’s procurement processes, increase spend visibility and bring procurement spend under control across its six global campuses.
INSEAD is one of the world’s leading graduate businesses schools. With six locations across France, Singapore, Abu Dhabi, and San Francisco, and connections with top institutions worldwide, INSEAD provides its learners with a truly global experience.
Before switching to Basware P2P in 2020, each country was operating its procurement process locally. During an efficiency review implementing a unified P2P system that would standardise processes and increase visibility was identified as a critical objective.
With the help of Basware and Fluxym, a market-leading S2P technology integrator, INSEAD was able to introduce a worldwide procurement process and significantly improve its invoicing solution.
Key takeaways
100%
Spend visibility
75%
Purchases with PO
100%
User adoption
Insead's Challanges
INSEAD’s finance team was processing invoices manually with a large volume of paper and scanning tasks. Every department had a distinct sourcing methodology, supplier engagement strategy, with even T&Cs lacking standardisation. Transforming to a SaaS solution was seen to resolve these issues and increase transparency across P2P processes.
“INSEAD wanted to implement best practices and an end-to-end P2P process with one single workflow. We required a core that we’d be able to roll uniformly and harmoniously across all our campuses,” Anne-Gaelle Gonet, Global Procurement Director explains.
Our decentralised approach was very inharmonious. There were some excellent practices, but there was significant inconsistency across departments.Anne-Gaelle Gonet, Global Procurement Director.
How Insead Achieved 100% spend visibility with Basware and Fluxym.
Working with Basware and Fluxym, INSEAD identified an end-to-end view of the invoicing process and its best practices. This became the basis for designing the blueprint for their solution and the roadmap for implementation.
Fluxym’s Project Manager, Alexandra Ndiaye, worked closely with Gonet and INSEAD throughout the scoping and implementation phases. INSEAD wanted to ensure that it had a solution that would work for both procurement and accounts payable.
"We aimed to include all the key participants across the different campuses in both the design and testing phases. Before the pandemic, training sessions took place online and onsite at some of the institution’s campuses."Alexandra Ndiaye, Fluxym.
Alongside the Basware P2P system, INSEAD implemented the Basware Supplier Portal to allow INSEAD to facilitate better communication with its suppliers and encouraged them to begin sending digital invoices over paper-based ones.
With so much change happening within finance, INSEAD decided to take a staggered approach to training. INSEAD rolled out the solution to the different departments and campuses over four months, ensuring all users were supported in onboarding.
It was also important for the interface to be user friendly, and it needed to integrate with our Oracle EBS ERP system."Anne-Gaelle Gonet, Global Procurement Director
With Basware and the help of Fluxym, we’ve completely revamped our approval protocols. It was a strong signal for the school that we were going through a change journey to create harmony between the different business units.
Anne-Gaelle Gonet, Global Procurement Director
What Insead and Basware achieved
“A year on from the implementation, we have a successful P2P process across the entire school with every department on board,” says Gonet.
In transitioning to Basware P2P, INSEAD has eliminated its previous on-premise infrastructure costs. Any improvements to the functionality or interface are updated automatically, and the Basware Analytics module has added significant value.
Procurement processes no longer happen on paper, and the INSEAD aims to have an e-invoice rate of 60% by 2022 to reduce the workload on the accounts payable team when it comes to managing invoices.
In terms of spend control and analytics, we’ve experienced a step change because we had very little visibility before, and we now have a lot of KPIs that we see evolving day today. We’ve also implemented a ‘no PO, no pay policy’ which has paid off in terms of results.Anne-Gaelle Gonet, Global Procurement Director.
Basware P2P is proving successful from a usability perspective too. INSEAD has connected it to the organisation’s own secure sign-on capability so that users can automatically access the software without having to provide a username or password.