Basware Expands Connectivity Services to Enable Full Purchase-to-pay Automation
Basware has announced the addition of e-procurement functionality to its Connectivity services. The solution covers the purchase-to-pay process from cataloguing and procurement to e-invoicing, providing integration with an organisation’s existing stock and resource management systems. The solution is designed to reduce cost per transaction, mitigate error, eliminate paper-based processes and speed up payment.
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 that, in turn, minimise manual intervention. By turning the procurement and invoice processes electronic, buyers can automatically match over 90% of incoming invoices against placed orders.
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 generate invoices directly from the order data that ensures accuracy and eliminates the need for credit invoices.