Stamford, Conn.—April 29, 2013—Basware, a provider of e-invoicing and purchase-to-pay solutions, launched three new solutions within its Basware Commerce Network, including Basware Portal for Receiving; Basware Portal for Tracking; and Basware e-Invoice Email Lite.
Designed to deliver on Basware’s strategy of enabling connected commerce for small, large and global businesses, the new solutions provide sustainable cost savings; proactive insight to cash flows; and improved buyer–supplier relationships.
“These new Basware solutions offer a gateway to electronic transactions exchange for all companies from day one, enabling them to send, track and receive e-invoices and purchase messages with business partners across the Basware Commerce Network,” said Esa Tihilä, Chief Executive Officer of Basware. “It is through our continued focus on delivering innovations designed to remove common obstacles to connected commerce that Basware can claim maintained leadership in this sector. Our goal is to remove all barriers to invoicing and purchasing automation, allowing our customers to reap the full benefits and savings that such strategies deliver, no matter what size they are.”
The company, which netted $420 billion spent annually on the Basware Commerce Network from more than 900,000 active buyers and suppliers trading across more than 100 countries, confirmed a number of factors which drive its network growth including:
- Government and larger enterprise buyers increasingly cause suppliers to submit invoices electronically
- Commerce is increasingly cross-border as companies take an international approach
- Businesses of all sizes are realizing the cost and time-saving benefits of e-invoicing
According to the 2012 Global E-Invoicing Study, approximately two thirds of businesses which receive true e-invoices via an e-invoice service provider reported a significant reduction in the costs of invoice processing.
“The adoption of e-invoicing is on the rise globally and we are already seeing growing numbers of businesses, from micro through to large enterprises, taking advantage of the benefits e-invoicing can offer,” Tihilä continued. “Fully automated e-invoicing and purchase-to-pay is fast becoming the business norm. This is directly impacting the number of buyers and suppliers sending and receiving invoices across the Basware Commerce Network, which allows companies to conduct business faster, more easily and more profitably. By building on Basware’s heritage and proven expertise in transforming purchase-to-pay processes for companies of all sizes, our goal is to maintain our position as the largest open business commerce network, processing over 150 million e-invoices by 2015.”
Basware’s new suite of services is designed to ensure that companies of all sizes can reach their suppliers and customers with e-invoicing programs. Benefits include greater insight, control and automation for customers and suppliers alike.
Basware Portal for Receiving enables e-invoices to be sent and received easily and securely to customers through the Basware Commerce Network. It provides full visibility into the delivery status of all invoices, removing uncertainty and allowing better forecasting of cash flow.
Basware Portal for Tracking gives suppliers greater insight into the status of their invoices.
Basware e-Invoice Email Lite allows PDF senders to continue to send PDFs while extracting all the relevant, detailed line item information before adding it straight into an invoice automation system for automatic matching and processing.