BasWare strengthens Enterprise Purchase to Pay portfolio

Improved tools cut invoice handling costs & increase efficiency of end-to-end financial process

BasWare, the leading provider of financial automation software, has introduced three enhanced solutions to its Purchase to Pay portfolio.  These include new versions of BasWare Invoice Processing, BasWare Purchase Management and BasWare Document Archiving.

The enhanced portfolio enables large organizations to increase process efficiency, while reducing the cost of the end-to-end financial function.  Automation begins at the procurement stage and ensures faster process of invoice approval and payment.

“It’s amazing how few organizations have any control over their purchase to pay processes.  Our own research has found that the vast majority have no purchase order process in place and even fewer have an end-to-end view of their purchase to pay process,” explained Esa Tihilä, General Manager, Europe and Americas, BasWare.  “At BasWare we’re trying to encourage businesses to take control of their financial processes by providing simple tools that enable the introduction of procurement controls and transparency of the complete invoice processing and payment process.”

BasWare Purchase Management (PM) 3.4 introduces management of the internal procurement process to increase the efficiency of procurement professionals while streamlining product catalogue management.  Its key benefit is that it enables plan based purchasing which helps organizations create project or campaign related purchase plans, set within pre-agreed budget and catalogue criteria. This increases procurement flexibility and automatically introduces procurement cost control and monitoring because only pre-approved products and suppliers can be selected. Improvements were influenced by the BasWare Industry Program, a working group made up of senior purchasing professionals and completed in 2005.

BasWare Invoice Processing (IP) 3.5 provides an organization with a highly automated system for managing and controlling its invoice processing.   The major enhancements are focused on usability, compliance and the introduction of customer specific business rules in the accounts payable process.  These include detailed invoice approval rights and invoice row or header data validation.

Completing the portfolio is BasWare Document Archiving (DA) 3.0.  This provides instant access to electronically stored documents including reports, invoices and statements.  Major enhancements include full DA client screens re-design, improved usability and compliance, as well as document versioning, info-flow and direct link to BasWare Contract Matching application.
 
All solutions have been developed in response to customer feedback. When used together these solutions provide a seamless purchase-to-pay process that can help large private and public sector organizations set up internal procurement policies and streamline their AP practices. 

For more information on BasWare Enterprise Purchase to Pay product portfolio, please visit www.basware.com/EN/Solutions/.

About BasWare
BasWare is the global leader in Enterprise Purchase-to-Pay and Financial Management solutions.  More than 450,000 end-users in over 20 countries use its software to automate back-office financial operations to enhance efficiency, gain process control and transparency, and meet compliance requirements. BasWare’s products are widely used in Shared Service Centres.

In 2005, net sales reached EUR 42.8 million.  The growth target for net sales for 2006 is approximately 45% and will continue to be supported by a growing network of value-added resellers.
 
Founded in 1985, BasWare Corporation is a public company listed on the Helsinki Stock Exchange.  Headquartered in Helsinki, Finland, it has eight subsidiaries in the US and Europe.  For more information, visit www.basware.com.