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Basware Provides Full P2P System for a Global Manufacturing Customer

Thursday, May 9, 2019

Basware Provides Full P2P System for a Global Manufacturing Customer

Espoo, Finland, May 9, 2019 – Basware (Nasdaq: BAS1V), the global leader in networked source-to-pay solutions, e-invoicing and innovative financing services, has signed a P2P SaaS deal with a leading international provider of HVAC, drinking water and waste management systems.

The agreement covers the full Basware P2P SaaS suite and Network services for eInvoice receiving including Smart PDF, e-Orders Service, CloudScan with Self-Validation Service and Marketplace Service with several alternatives for purchase order delivery between the buyers and suppliers. The system will be deployed into 13 countries in Europe and North America, with Basware supporting in supplier onboarding efforts.

“With Basware, our new global customer will improve control in their procurement workflows and simplify invoicing for their suppliers while improving invoice data quality. They will also benefit from advanced purchase-to-pay analytics which is built into the Basware solution and gives them powerful insights into their purchasing and financial data,” said Niko Kytö, Senior Account Manager, Basware.

Basware offers an advanced P2P platform, which is intuitive and easy to use, supports true e-transactions, and ensures a high degree of auto-matching of received invoices against approved purchase orders. Basware is used by many international corporations such as Pfizer, GE Healthcare, and Astra Zeneca.

With the new cloud-based P2P system, the customer is expected to see cost savings, harmonized working processes, a significant increase in automation, and fewer errors. It will also help the customer act by internal guidelines, which in turn will lead to a high degree of compliance.

According to the Total Economic Impact study by Forrester, organizations can streamline processes through Basware’s purchase-to-pay solution and reap ROI of 307% with the payback time for the solution of 12 months.