North American Manufacturing Company Opts Basware to Enhance Financial Operations

By CIOReview | Friday, September 11, 2015

FREMONT, CA: Basware Corporation, a provider of purchase-to-pay and e-invoicing solutions announces that it has signed a strategic partnership to deliver comprehensive accounts payable and e-invoicing services to a North American manufacturing company.

The solutions are powered by Alusta, Basware's unified cloud-based platform for purchase-to-pay. The agreement includes accounts payable automation and complete inbound e-invoicing. The company will also provide Analytics for attaining immediate insight into the financial performance. Additionally, the Basware Discount solution will enable buyer-funded supplier financing,

The Analytics solution delivers real-time insights to proactively manage spend and financial performances, identify process bottle-necks, improve cash flow and enhance supplier relationships. It provides visibility across Purchase-to-Pay, giving users actionable insight into what they spend, with whom and whether they should do so again. Users are able to create and share visualizations of spend, purchasing and AP (Account Payable) performance metrics across multiple locations and devices thereby enabling financial agility.  

The e-invoicing services integrate with payables and receivables systems, providing users with one access point to send and receive all invoices electronically. e-invoicing aims to remove the complexity of global e-commerce and provides one platform to connect trading partners with automatic format conversion, tax compliance assurance and activation services. It claims to reduce AP costs by as much as 90 per cent.

"We are excited to form a strategic partnership with this customer and provide comprehensive services that enhance their financial operations and provide visibility they need to make better financial decisions. With Basware services, they can easily and securely receive 100 percent of their over 1.5 Mn annual invoices as e-invoices via the open Basware Commerce Network", says Esa Tihilä, CEO, Basware Corporation.