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Basware Launches Procurement Module for InvoiceReadyTM

Basware, the leading provider of e-invoicing and purchase-to-pay solutions, has today announced the availability of a procurement module to its InvoiceReadyTM solution, deepening the benefits of fully electronic invoice handling to SMBs.

SMBs have long recognized that automated invoice handling improves their ability to manage cash flow across their organization but have been held back by a lack of availability of solutions designed specifically for their level of resource, expertise and budgets. To address this, Basware InvoiceReady has been built squarely around the needs of the SMB - able to be configured rapidly, deployed quickly, scaled up and down based on business need, with users paying only for what they use. As a cloud-based service, it does not require complex integration, and allows the SMB to experience the benefits of electronic processing of invoice and purchase transactions without having to worry about managing the technical infrastructure.

With a controlled way of creating, reviewing and approving purchase requisitions before and after ordering SMBs are now able to gain visibility of indirect spend and gain greater control of purchases as well as future cash commitments within the company. The procurement module also includes matching functionality that links purchase orders and incoming invoices together, allowing businesses to manage cash flow visibility more efficiently and produce reliable audit trails of the invoices processing through the organization.

John Webster, Vice President, Global Product Marketing, Basware comments: “SMBs don’t just do business with other SMBs, they interact with organizations of all sizes. Therefore there is a need to operate as a mini-enterprise, adopting leading edge processes but through the use of technology and services that are within their budget and resource expertise of the SMB. InvoiceReady is designed specifically to meet the requirements of smaller sized businesses. It unlocks the benefits of electronic invoice processing, removing the hassle of purchase invoice approvals and reaping the benefits of early payment discounts as well as improved cash flow management. By providing a cloud-based service, SMBs are able to receive all their invoices electronically from day one, establish an undisputable relation between invoices to orders and, most importantly, introduce the level of control and visibility into financial processes required for an SMB to be confident in pushing for growth.

The update to InvoiceReady means businesses will now have access to the following 7-in-1 features in a cost-effective cloud-based service package: Invoice Processing, Scan & Capture, E-invoice Receipt, Archive, Contract Matching (optional), Travel & Expense Management (optional) and Procurement (optional).

To find out more about Basware InvoiceReady visit here:

About Basware

Basware is the global leader in cloud based e-invoicing and purchase-to-pay solutions with more than 1,000,000 users in over 60 countries. Basware’s B2B Cloud solutions and services provide an open, secure and global ecosystem for buyer and supplier collaboration, connecting more than 1.9 million buyers and suppliers globally. The solutions are architected to meet the needs of SMEs and global enterprises and are built upon Basware’s deep knowledge and experience of B2B financial processes, coupled with intelligent cloud connectivity and the Open Network. With Basware, organizations benefit from more efficient procurement, accounts payable and accounts receivable processes, sustainable cost savings, better insight to cash flows and improved buyer-supplier relationships. The solutions are available via the cloud, on-premise or through business process outsourcing in Europe, the US, and Asia-Pacific through an extensive network of Basware offices and business partners.

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