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Financial automation software provider Basware 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 organisations 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.
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
organisations 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 organisation 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.
Esa Tihilä, General Manager, Europe and Americas, at BasWare, explained: “It’s
amazing how few organisations 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.
“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.”
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 organisations set up internal procurement
policies and streamline their AP practices.
Source:
Credit
Control Journal
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