Independent study shows transformative financial and operational impacts result in a 272% ROI for Airbase
Airbase, the innovators in spend orchestration for the mid-market, today unveiled the findings from its latest commissioned Total Economic Impact™ (TEI) study conducted by Forrester Consulting. The study underscores the significant return on investment and efficiency enhancements organizations gain by deploying Airbase, emphasizing a positive 272% ROI and a payback period of under six months.
Airbase’s next-gen procure-to-pay platform is instrumental in redefining how companies manage their spending from procurement intake through approvals and payments. It delivers strategic value across finance operations, including significant cost and time savings. Forrester used an analytical model to assess the value that Airbase provides, based on a comprehensive evaluation of a customer using the full Airbase platform.
The subject organization remains anonymous to protect sensitive information — a common practice for companies sharing detailed data with Forrester.
The Forrester study quantifies these benefits, showcasing an impactful net present value (NPV) of $715K and detailing significant gains in operational efficiency and compliance.
Highlights from the TEI study:
- Enhanced Revenue Streams: The customer generated nearly $209K in cash-back revenue from the strategic use of Airbase corporate cards, emphasizing the solution’s ability to turn Accounts Payable into a profit center.
- Savings on Wasted Spend: Improved purchasing policy compliance resulted in $122K in savings through AI-enhanced policy enforcement.
- Operational Excellence: Reduced procurement cycle times significantly, from 48 days to 26 days, which we believe illustrates Airbase’s capacity to enhance business agility, responsiveness, and facilitate stakeholder collaboration.
- Substantial Cost Reductions: Achieved labor cost savings of $448K by optimizing procurement operations and leveraging Airbase’s automated processes and workflows.
Thejo Kote, Founder and CEO of Airbase, remarked, “The TEI study by Forrester highlights for us the crucial role Airbase plays in not only enhancing operational efficiencies but also in fostering a robust environment for strategic financial management. Our platform ensures that procurement is not just a transactional activity but a pivotal element of broader business health and agility.”
“Airbase has revolutionized how we approach procurement,” stated the customer who participated in the TEI study. “With Airbase, the financial oversight is seamless, and the gains in efficiency have allowed us to redeploy resources to more strategic initiatives, significantly impacting our bottom line. This is crazy, but [before Airbase], we had seven learning management systems. We are now down to two and saved $358,000. That result generated by Airbase paid for Airbase. Our ability to get more out of employees and deploy them in different ways to support the day-to-day short-term and long-term strategic objectives of our department in supporting our business is hugely important. My team is happy, works fewer hours, and we have better retention. All of this happened because we moved to Airbase.”
2024 has been an electrifying year for Airbase, with substantial momentum and numerous accolades, including the ProcureTech Cup win, the Remote Global Icon Award, Forbes America’s Best Startups Award, and the Stevie Award for Most Innovative Company.
Further Information and Study Access:
For full details of the Total Economic Impact™ of Airbase and to explore the in-depth benefits of Airbase’s procure-to-pay solutions, please visit Airbase’s TEI study download page.
About Airbase:
Airbase is the leading provider of procure-to-pay solutions, transforming how businesses manage their spending. The platform offers a seamless, comprehensive suite of tools designed to optimize the entire spending process from procurement to payment, enhancing visibility, compliance, and control across financial operations. Airbase combines advanced technology with practical financial management to drive efficiency and business growth.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240514585952/en/
Contacts
Darragh Collins | press@airbase.io
