Basware Introduces New Supplier Services to Improve and Automate Accounts Receivable Processes

STAMFORD, Connecticut, June 23, 2010 /PRNewswire/ -- Basware (http://www.basware.com/us/Pages/default.aspx), 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 (AR) departments to deliver all sales invoices electronically to their customers, regardless 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, and ensures that invoices are sent on time and have been received. This results in increased visibility over the entire invoicing process, facilitating cash flow forecasting as well as increased customer satisfaction, since 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 savings, as well as 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 who are 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 switching their sales invoices to an electronic format. Toshiba TEC Germany, a recent Basware Connectivity for Suppliers customer, found in an internal study that by avoiding the time and cost of printing, packaging, stamping and mailing an invoice, it is realizing 75% savings through electronic invoicing.

"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," said Ari Salonen, general manager, Basware North America. "We are already seeing this become a key criterion in vendor selection processes as companies seek to improve collaboration across their supply chains. 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 to 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 http://e-invoicing-for-suppliers.basware.com.

About Basware

Basware (http://www.basware.com/us/Pages/default.aspx) 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 U.S., and Asia-Pacific through an extensive network of Basware offices and business partners. The company's U.S. business, Basware, Inc., is headquartered in Stamford, Conn. More information can be found at http://www.basware.com/us.

The Basware name is a registered trademark of Basware Corporation. The Basware logo is a trademark of Basware Corporation. All other product and service names mentioned herein are trademarks of their respective companies.

    COMPANY CONTACT:
    Robert Cohen
    Basware, Inc.
    robert.cohen[at]basware.com
    +1-203-487-7905

    MEDIA CONTACT:
    Diane Pardes
    Pardes Communications, Inc.
    dpardes[at]pardescommunications.com
    +1-781-652-8059

SOURCE Basware Corporation

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