Basware Improves Automated A/R Processes

Basware, a provider of purchase-to-pay solutions, has added supplier functionality to its Basware Connectivity services. Basware Connectivity for Suppliers enables accounts receivable (A/R) departments to deliver all sales invoices electronically to their customers, irrespective of the invoice format required by the customer organisation.

With Basware, A/R departments can achieve a 100% electronic invoicing (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.

“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 criteria in vendor selection processes as they seek to improve collaboration across their supply chains,” said Matt Lees, country manager, Basware UK. “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.”


Related reading

New consumer banking head for Citi Asia Pacific