Basware launches new services to accelerate e-invoicing adoption

New sending options speed up supplier activation to increase e-invoice volumes

Basware, the leading provider of purchase to pay solutions, today announced two new additions to its Business Transactions e-invoicing service, allowing instantaneous e-invoicing between customers and suppliers to speed up supplier activation and rapidly increase the number of incoming e-invoices. Senders can now mail invoices instantly to their customers by using their own email software or print their e-invoices by using a Basware-configured virtual printer. The Basware Business Transactions e-invoicing service is part of the Basware Connectivity offering that was launched in March this year, providing a new set of services which enable suppliers and buyers of all sizes to transact electronically.

Basware’s supplier activation services enable buyer customers to quickly drive down cost by replacing paper-based purchase invoices with e-invoices. This results in reduced cycle times both for the supplier as well as the buyer, improved cash management and DSOs and eliminates manual process steps. In order to respond to the diversity of the supplier base, Basware provides its customers with alternative ways of enabling their suppliers to provide e-invoices. Both the email and virtual printer services will allow senders to quickly respond to the increasing customer demand to supply e-invoices, without any installation needed, while tracking services notify them of discrepancies in delivery and allow them to track the invoice progress at all stages. The printing solution also offers full encryption to ensure data security. Both of the services are fully compliant with invoicing regulations such as digital signatures and work not only when sending to Basware but also when sending to customers connected to any of the service providers in Basware’s global interoperability network.

SITA NEWS, the northern European arm of the global recycling and waste management company, has a clear strategy in driving their suppliers towards e-invoicing to reduce costs for both SITA and the suppliers. An existing Basware Business Transactions customer, SITA is now encouraging suppliers to use the new sending options available via the service. Strukton Worksphere, a Dutch provider of building-related technical systems and facility management, also has a similar strategy with their suppliers. Both companies are now offering their suppliers the new Basware services as ways in which to send invoices to them.

SITA NEWS Director of Financial Shared Services, Serge Flantua, says: “SITA NEWS is moving towards greater use of the Basware Business Transactions service with the aim of reducing receipt of paper invoices to a minimum in the next three years. At the end of 2009 we are aiming to receive 25% of invoices through Basware’s e-invoicing service, whether that is directly through true xml-invoices, PDF conversion or supplier self service upload through the Basware Supplier Portal.”

Strukton Worksphere, which already receives 40% of its invoices electronically, is aiming for a similar goal. By using Basware’s new services, Strukton is targeting a 70% total e-invoice volume after one year of using the service.

Basware’s Senior vice president, Esa Tihilä, said: “These two new services respond to a very clear demand from our customer base and suppliers, giving them the tools to start driving e-invoice adoption in their supplier base. With Basware Connectivity services, senders can reduce their receivables cycle time, while buying organizations are able to significantly speed up e-invoicing uptake among their supplier base.”

The new services are available immediately and can be accessed at http://e-invoice.basware.com.

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 US, and Asia-Pacific through an extensive network of Basware offices and business partners. www.basware.com

Press contact:

Press contact: Emilia Vaajoensuu, Communications Manager, Basware, firstname.lastname@basware.com.
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