Basware Introduces New Supplier Services to Improve and Automate Accounts Receivable ProcessesBy Basware Corporation, PRNE
Tuesday, June 22, 2010
Basware Connectivity for Suppliers Allows AR Departments To Shift to 100% E-Invoicing From Day One
ESPOO, Finland, June 23, 2010 - Basware, the global leader in purchase-to-pay solutions, today announced
the addition of supplier functionality to its Basware Connectivity services.
Basware Connectivity for Suppliers enables Accounts Receivable departments to
deliver all sales invoices electronically to their customers, irrespective of
the invoice format required by the customer organization. With Basware,
Accounts Receivable departments can achieve a 100% e-invoicing capability
from day one. E-invoicing increases invoice accuracy, as well as ensuring
that invoices are sent on time and have been received. This results in
increased visibility over the entire process, facilitating cash flow
forecasting as well as increased customer satisfaction as customers are able
to process invoices electronically.
Basware Connectivity for Suppliers ensures timely delivery of sales
invoices through the Basware Business Transactions service. Accounts
Receivable can send all their sales invoices to all customers through one
single service, which generates instant time and cost savings in reduced
postal charges. Basware routes the invoices to the appropriate delivery
channel according to customer capabilities. To ensure delivery in the correct
format for all customers, Basware provides Accounts Receivable with an
outsourced printing service and the ability to deliver invoices by email to
customers not yet able to receive e-invoices directly to their invoice
processing solution. Once invoices have been delivered, they are archived to
guarantee integrity, enabling future compliance where there are legal
requirements for storing e-invoices.
According to independent research company Billentis, organizations can
save as much as 57% per invoice in costs by turning their sales invoices
electronic. Toshiba TEC Germany, a recent Basware Connectivity for Suppliers
customer, found in an internal study that by the time a paper invoice was
printed, enveloped, stamped and sent to the post office for delivery, the
total cost per invoice averaged EUR 1.61. A comparable electronic invoice
costs a mere EUR 0.40. According to recent calculations, Toshiba is
experiencing 75% savings in invoicing costs.
"Electronic payment and purchasing has clear business benefits. The more
you get connected with your customers, the more likely it is that they will
stay with you," says Klaus Dieter Leifgen, IT manager at Toshiba TEC Germany
Imaging Systems GmbH.
"An increasing number of Accounts Receivable departments are facing
demand from their customers to provide e-invoices. We are already seeing this
become a key criterion in vendor selection processes as they seek to improve
collaboration across their supply chains," said Esa Tihila, SVP, Basware.
"With these new services, Basware Connectivity allows Accounts Receivable
teams to switch to e-invoicing instantaneously, without having to manage
paper processes concurrently to cater for customers who are in the early
development phases of their e-invoicing strategy. This allows suppliers to
gain competitive advantage over their competitors while catering to the
billing needs of existing customers."
To learn more about these new services, please visit
Basware is the global leader in purchase-to-pay solutions with more than
1,500 customers and 1,000,000 users in over 50 countries around the world.
With Basware, organizations can reduce the cost of buying and paying for
goods and services and gain visibility and control of their entire spending
process by automating manual processes, from sourcing, contract management,
purchasing and supplier collaboration to invoice automation. Basware
solutions and services enable substantial cost reductions across businesses
and deliver value by providing compliance and control, as well as fast return
on investment. The solutions are distributed and implemented, either on site
or as a service, in Europe, the US, and Asia-Pacific through an extensive
network of Basware offices and business partners.www.basware.com.
Press contact: Octopus Communications, basware at octopuscomms.net, +44-845-700-655, Emilia Vaajoensuu, Communications Manager, Basware, emilia.vaajoensuu at basware.com
Tags: Basware Corporation, Espoo, finland, June 23