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Basware Expands Connectivity Services to Enable Full Purchase-to-Pay Automation
Basware Connectivity Integrates the Entire Purchase-to-Pay Process Including Cataloging, Procurement, Fulfillment, Reporting and e-invoicing
STAMFORD, Connecticut, March 8, 2010-- Basware, the global leader of purchase-to-pay solutions, today announced
the addition of e-procurement functionality to Basware Connectivity services.
Basware Connectivity covers the entire purchase-to-pay process from
cataloging and procurement to e-invoicing, providing crucial integration with
an organization's existing stock and resource management systems. Basware
Connectivity benefits both supplier and buyer, reducing cost per transaction,
mitigating error, eliminating paper-based processes and speeding up payment.
Basware Connectivity for Procurement enhances the buyer-supplier
collaboration capability of Basware Connectivity, adding:
- Purchase Message Exchange:
- Integrating electronic order negotiations within one buyer-supplier
ecosystem
- Eliminating the errors inherent in manual order management and creating
a fully auditable trail
- Catalog Exchange:
- Facilitating the electronic delivery of supplier catalogs to the
buyer's procurement environment, boosting the quantity of catalog items
- Supplier self service enables 24-hour updating of content
- Enforces negotiated contract conditions and pricing
Electronic invoice and procurement message exchange significantly
increases data accuracy by replacing error-prone manual processes with
automation. Through Basware Connectivity, electronic documents are created in
procurement systems and fed directly to invoice processing solutions,
enabling better visibility and a full audit trail. Electronic transactions
enable automated order management as well as automated invoice processing and
payment, which in turn minimize manual intervention. By turning the
procurement and invoice processes electronic, buyers can automatically match
over 90% of incoming invoices against placed orders.
"With these new additions, Basware Connectivity is the first single
purchase-to-pay solution that enables an organization to move its entire
procurement process into an electronic environment, fully integrated with
existing stock and finance management systems," said Ari Salonen, general
manager, Basware North America. "Every time a transaction moves from one
system to another, whether within a single organization or between supplier
and customer, it adds delays in fulfillment and opens up possibilities for
error. By automating these processes and moving to electronic document
exchange with Basware Connectivity, buyers and suppliers can significantly
reduce errors in the process, so they get it right the first time around and
cut their processing costs in half along the way."
For the supplier, electronic processes reduce order delivery and
invoicing cycle times dramatically, which in turn translate to quicker
payments and improved cash flow. Suppliers can easily generate invoices
directly from the order data, which ensures full accuracy and eliminates the
need for credit invoices.
Jyri Virtanen, logistics manager at Plandent, a dental supply company and
Basware Connectivity customer, added: "We receive around 450 orders each day,
and with Basware Connectivity the entire process has become much faster and
more efficient. Previously, a single order might contain 50 hand-written
order rows, but with an electronic system we can easily receive consolidated
orders. Basware Connectivity enables us to fulfill our customers' orders
quicker and also has substantially reduced error levels. Now, with the
elimination of the delay resulting from manual ordering and shorter delivery
times, we can focus more on actual customer service."
About Basware
Basware is the global leader in purchase-to-pay solutions with more than
1,500 customers and 850,000 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.
Source: Basware Corporation
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
Basware Expands Connectivity Services to Enable Full Purchase-to-Pay Automation
Basware Connectivity Integrates the Entire Purchase-to-Pay Process Including Cataloging, Procurement, Fulfillment, Reporting and e-invoicing
STAMFORD, Connecticut, March 8, 2010-- Basware, the global leader of purchase-to-pay solutions, today announced
the addition of e-procurement functionality to Basware Connectivity services.
Basware Connectivity covers the entire purchase-to-pay process from
cataloging and procurement to e-invoicing, providing crucial integration with
an organization's existing stock and resource management systems. Basware
Connectivity benefits both supplier and buyer, reducing cost per transaction,
mitigating error, eliminating paper-based processes and speeding up payment.
Basware Connectivity for Procurement enhances the buyer-supplier
collaboration capability of Basware Connectivity, adding:
- Purchase Message Exchange:
- Integrating electronic order negotiations within one buyer-supplier
ecosystem
- Eliminating the errors inherent in manual order management and creating
a fully auditable trail
- Catalog Exchange:
- Facilitating the electronic delivery of supplier catalogs to the
buyer's procurement environment, boosting the quantity of catalog items
- Supplier self service enables 24-hour updating of content
- Enforces negotiated contract conditions and pricing
Electronic invoice and procurement message exchange significantly
increases data accuracy by replacing error-prone manual processes with
automation. Through Basware Connectivity, electronic documents are created in
procurement systems and fed directly to invoice processing solutions,
enabling better visibility and a full audit trail. Electronic transactions
enable automated order management as well as automated invoice processing and
payment, which in turn minimize manual intervention. By turning the
procurement and invoice processes electronic, buyers can automatically match
over 90% of incoming invoices against placed orders.
"With these new additions, Basware Connectivity is the first single
purchase-to-pay solution that enables an organization to move its entire
procurement process into an electronic environment, fully integrated with
existing stock and finance management systems," said Ari Salonen, general
manager, Basware North America. "Every time a transaction moves from one
system to another, whether within a single organization or between supplier
and customer, it adds delays in fulfillment and opens up possibilities for
error. By automating these processes and moving to electronic document
exchange with Basware Connectivity, buyers and suppliers can significantly
reduce errors in the process, so they get it right the first time around and
cut their processing costs in half along the way."
For the supplier, electronic processes reduce order delivery and
invoicing cycle times dramatically, which in turn translate to quicker
payments and improved cash flow. Suppliers can easily generate invoices
directly from the order data, which ensures full accuracy and eliminates the
need for credit invoices.
Jyri Virtanen, logistics manager at Plandent, a dental supply company and
Basware Connectivity customer, added: "We receive around 450 orders each day,
and with Basware Connectivity the entire process has become much faster and
more efficient. Previously, a single order might contain 50 hand-written
order rows, but with an electronic system we can easily receive consolidated
orders. Basware Connectivity enables us to fulfill our customers' orders
quicker and also has substantially reduced error levels. Now, with the
elimination of the delay resulting from manual ordering and shorter delivery
times, we can focus more on actual customer service."
About Basware
Basware is the global leader in purchase-to-pay solutions with more than
1,500 customers and 850,000 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.
Source: Basware Corporation
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