Basware
has launched Basware
Discount, a new solution within its Financing Services portfolio,
that allows buyers and vendors to optimize invoice payment terms for
better working capital management. As a service on the Basware Commerce
Network, more than one million businesses will be able to benefit from
early payment terms, managed online in real time. The service is dynamic
in that it offers payment terms on a sliding scale: the earlier the
buyer makes a payment, the bigger the discount.
“When we launched Basware Financing Services in September of 2014, we
knew we had a real opportunity to provide measurable value. We now
combine invoice automation with innovative, new financing services to
businesses of all sizes that trade across the Basware Commerce Network.
Our customers were asking for e-payment and early payment services. With
over one million buyers and suppliers exchanging more than 80 million
e-invoices and other electronic business documents we shouldn’t be
surprised they want these services delivered via the network. The launch
of Basware Discount is closely in line with this customer demand for
new, innovative real-time payment and financing services which help
companies of all sizes optimize working capital management,” said Ad van
der Poel, SVP, Basware Financing Services.
"Last year we conducted a comprehensive Creating
Payment Energy research with over 1,000 strategic decision makers
covering North America, Europe and APAC and we found out that 80 percent
of vendors would readily exchange a discount if it meant an early
payment. This isn’t entirely surprising considering that it currently
takes businesses an average of 13.5 days to process an invoice and 55
days from receiving to paying an invoice. Interestingly, the research
also told us that many organizations are ‘cash rich’. There seems to be
an apparent and direct connection between the hoarding of cash and the
extended payment terms experienced by vendors.”
Basware Discount is available globally via the Basware Commerce Network.
It works to provide benefits for both buyers and their vendors by
improving cash flow across the supply chain. Buyers can easily create an
early payment program with Basware Discount and invite their suppliers
to sign up. The assurance of a quick payment as well as the visibility
is a big win for vendors and this leads to fewer supplier inquiries for
buyers, which frees accounts payables (AP) and improves productivity
overall. For buyer organizations this means more discounts for bottom
line savings translating into higher profit margins and top line growth.
More information:
Basware Discount: www.basware.com/dynamic-discounting
Basware Financing Services: www.basware.com/financing-services
About Basware
Basware is the global leader in providing purchase-to-pay and
e-invoicing solutions in the world of commerce. We empower companies to
unlock value across their financial operations by simplifying and
streamlining key financial processes. Our Basware Commerce Network, the
largest open business network in the world, connects 1 million companies
across 100 countries and enables easy collaboration between buyers and
suppliers of all sizes. Through this network, leading companies around
the world achieve new levels of spend control, efficiency and closer
relations with their suppliers. With Basware, businesses can introduce
completely new ways of buying and selling to achieve significant cost
savings and boost their cash flow.
Find out how Basware helps money move more easily and lets commerce flow
at www.basware.com.
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Copyright Business Wire 2015