Basware, the provider of electronic invoicing (e-invoicing) and purchase-to-pay (P2P) solutions, has joined forces with BravoSolution, the supply management and spend analysis provider, to create a comprehensive source-to-pay (S2P) solution.
BravoSolution’s offering delivers sustained supply management value through a combination of spend analysis, e-Sourcing, contract management and vendor management solutions. Basware’s P2P solution and Basware Commerce Network focus on the automation of procurement and accounts payable (AP) processes, and the maximisation of spend under management.
The companies said that by combining both technologies and process expertise, the partnership can extend the value delivered to customers and plug the ‘savings gap’, a common issue in which value leaks from negotiated supplier contracts due to non-compliance in the corporate purchasing process.
“This strategic alliance is focused on releasing the potential value of strategic sourcing through best-in-class operational purchase-to-pay solutions,” said Esa Tihilä, chief executive officer (CEO) of Basware. “The partnership offers customers packaged integration points between the solutions to deliver seamless processes across source-to-pay, for example for such customers like our key client Finnair. We are focused on bringing about better buying solutions and services to a joint customer base, building on our existing and impressive traction in key regions across the globe.”
“Finnair has collaborated with Basware for many years in invoice processing and payment solutions, and is also currently implementing the complete Basware P2P suite,” said Jari Huhtinen, vice president, procurement, at Finland’s largest airline, Finnair.
“As a next phase of this collaboration, Finnair is pleased to confirm that it is implementing BravoSolution’s strategic sourcing solution to form an integrated S2P solution based on the announced global partnership between Basware and BravoSolution.”
Despite being behind the likes of Europe and China, the US payments industry is now rapidly advancing, said Anish Kapoor, CEO of AccessPay told GTNews in an exclusive interview.
Treasurers are more interested in cross-border payments and automation than real-time payments, as they are consistently asked to do more with less, argues Rick Burke, head of corporate payments at TD Bank in an exclusive interview.
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