Stamford, Conn.—June 18, 2013—Basware, a provider of e-invoicing and purchase-to-pay solutions, is unlocking the full potential of automated invoice handling for small and mid-sized (SMB) businesses with the worldwide release of a mobile client for InvoiceReady.
With the inclusion of a mobile client to support the invoice handling process, SMBs can significantly reduce invoice cycle times by reducing the bottlenecks in the financial process that often mean late payment fees or missed discount opportunities. Through InvoiceReady mobile, users will be able to easily and simply process purchase invoices, travel plans, travel and expense claims, contracts and requisitions from their mobile devices, no matter where they are.
"From the frontline where employees are making and chasing day-to-day payments, to the top where budget and forecasting decisions are made, any lack of continuity creates commercial pressure," said Esa Tihilä, Chief Executive Officer of Basware. “As such, the need for an effective finance strategy to manage operational workflow is imperative and this can't be hampered because a decision maker is not in the office. Access via any phone that can support a browser removes the hassle of invoice handling, ensuring you can manage your cash better and can get on with servicing customers. This means your workforce can focus on the truly value-added work, quickly and easily handling their invoice-related tasks during moments of downtime, while business leaders gain the confidence in cash flows required to drive their businesses forward."
Basware's SMB Finance research, conducted earlier this year, revealed that the average small business employee spends nearly 17 hours a month on financial processes, equating to two full working days on activity unrelated to their role. By being able to review, approve, and reject invoices or designate them as pending and add comments with a few clicks on a touch screen device can dramatically cut this time, allowing small business owners to focus on the core business.
Because the new mobile interface is built on the HTML5 standard, it can be accessed through almost every modern smartphone and tablet, regardless of make or operating system.
In addition to the rollout of mobile functionality, Basware added new features to InvoiceReady and significantly enhanced the user experience. The new consumer-style user interface brings a refreshed color scheme, new icons and best-practice ergonomics developed with close consultation with users around the world.
Additionally, payment feedback can now be imported from a user’s payment system to add the actual payment date to the purchase invoice and travel claim history. This makes InvoiceReady a one-stop shop for finding out all relevant invoice-related information. Improvements also have been made to the contract and procurement module to enhance usability for contract creation, archive browsing and reporting, as well as improving the interface tool capabilities for seamless integration to legacy systems.
"For us, Basware InvoiceReady came out as the best solution for automating our invoice processing,” said Odd Arne Klefstad, Financial Manager, Icelandic Norway. “The benefits are substantial, as we now spend 40 per cent less time on the same amount of invoices. Basware InvoiceReady covers a lot more than automated invoice processing, as it also creates great benefits in relation to other accounting processes. A lot of our employees are on the go all the time, so it is a true benefit to have a cloud-based solution with mobile accessibility.”