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Basware Launches Connectivity Services to Accelerate Purchase-to-pay Process Automation
Connectivity service aimed at enabling suppliers and buyers to eliminate paper from processes, reduce cost per transaction, speed up time to payment, communicate better with trading partners
Stamford, CT — March 30, 2009 — Purchase-to-pay solution provider Basware has launched a new set of enabling services aimed at increasing the adoption of electronic document exchange in difficult economic times for businesses.
The new Basware Connectivity services was designed to allow suppliers and buyers of all sizes and maturity to transact electronically across the Basware partner network to drive down processing costs and increase internal visibility between procurement and finance. Basware estimates that the new services can cut transaction and processing costs by half.
The new services include Basware Scan and Capture, an outsourced scanning service that can reduce the manual burden on internal departments and enable buyers to receive all their invoices in electronic format.
To encourage suppliers to start sending invoices electronically, Basware offers the buyers an outsourced supplier activation service. Basware Business Transactions, a monitored transfer and conversion service, supports the integrated exchange of e-invoices and purchase messages, enabling faster processing and improving accuracy, according to the solution provider.
Basware Supplier Portal completes the services, allowing buyers and suppliers to upload or download purchasing related documents and complete transactions, such as submitting an invoice, online.
The new services build on Basware's existing purchase-to-pay offering, allowing customers to further beef up process automation by including their business partners as part of their accounts receivable, accounts payable and procurement functions, the solution provider said. "With the Basware Connectivity services, companies gain visibility to an audit trail that can be traced from order to goods delivery and invoice," Basware said.
The solution provider said that the new services can generate savings in time and resources by increasing accuracy in order-based deliveries as well as data quality of invoices. "Thanks to reduced invoice processing times, buyers are able to negotiate cash discounts, prevent late payment fees and improve working capital management," Basware said. "In turn, suppliers are able to secure invoice delivery via the Basware Business Transactions platform and gain competitive advantage by offering an environmentally friendly and accurate way of invoicing, as well as providing more timely and efficient customer service."
The new Basware Connectivity services was designed to allow suppliers and buyers of all sizes and maturity to transact electronically across the Basware partner network to drive down processing costs and increase internal visibility between procurement and finance. Basware estimates that the new services can cut transaction and processing costs by half.
The new services include Basware Scan and Capture, an outsourced scanning service that can reduce the manual burden on internal departments and enable buyers to receive all their invoices in electronic format.
To encourage suppliers to start sending invoices electronically, Basware offers the buyers an outsourced supplier activation service. Basware Business Transactions, a monitored transfer and conversion service, supports the integrated exchange of e-invoices and purchase messages, enabling faster processing and improving accuracy, according to the solution provider.
Basware Supplier Portal completes the services, allowing buyers and suppliers to upload or download purchasing related documents and complete transactions, such as submitting an invoice, online.
The new services build on Basware's existing purchase-to-pay offering, allowing customers to further beef up process automation by including their business partners as part of their accounts receivable, accounts payable and procurement functions, the solution provider said. "With the Basware Connectivity services, companies gain visibility to an audit trail that can be traced from order to goods delivery and invoice," Basware said.
The solution provider said that the new services can generate savings in time and resources by increasing accuracy in order-based deliveries as well as data quality of invoices. "Thanks to reduced invoice processing times, buyers are able to negotiate cash discounts, prevent late payment fees and improve working capital management," Basware said. "In turn, suppliers are able to secure invoice delivery via the Basware Business Transactions platform and gain competitive advantage by offering an environmentally friendly and accurate way of invoicing, as well as providing more timely and efficient customer service."
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