SMEs to benefit from quick online access to invoice financing through
Basware Advance
Basware,
the leading provider of e-invoicing and purchase-to-pay solutions, today
announced Basware Advance, an online solution for small and medium
enterprises (SMEs) to gain better control and management of their cash
flow. Basware Advance gives SMEs timely access to robust financing
options, offering companies the liquidity they need to maintain a stable
cash flow.
SMEs today know that good cash flow management is crucial to their
ability to react and to operate flexibly, and their ultimate success.
Either as a long-term or ad hoc strategy, access to financing options
without bank agreements offers a simple and effective way to achieve
this. Basware Advance connects SMEs to the Virtaus cloud financing tool
through the Basware Commerce Network, to get funding for invoices.
Using the Basware Advance solution within the Basware Commerce Network,
where they can also send e-invoices, SMEs can see the status of
invoices, specify the details of the financing required, sign the
agreement and use the dashboard to track the status of the financing.
The process enables them to receive payment within days, maintain
visibility over the entire process and as a result gain greater
visibility into cash flow.
Ad van der Poel, SVP, Basware Financing Services comments: “To date, the
market has not worked in favour of businesses’ ability to retain good
cash flow. Businesses are seeking more agility and flexibility, with
more visibility of cash flow and more instantly available information to
enable faster decisions. However, traditional financing options have not
reflected this need so far and this has impacted the flexibility of
those businesses, and sometimes even their ultimate survival. Combining
easy online access to invoice financing, together with the existing
invoicing and approval process, makes Basware Advance unique against
alternatives in the market. This proposition benefits businesses,
especially SMEs, by creating visibility over the entire financial
process.”
Basware Advance is the latest innovation in Basware’s Financing Services
product suite, following previous launches of Basware Pay and Basware
Discount. Basware Advance connects businesses with the financing engine
Virtaus, a joint venture between Basware and Arrowgrass Capital Partners
LLP, offering an e-invoicing based, supplier-driven invoice financing
solution. Basware Advance is designed to optimise cash and working
capital through digital participation in the open Basware Commerce
Network. It is a global solution which will be available initially in
the UK in early 2016.
More information:
Basware Financing Services: www.basware.com/financing-services
For more information on Basware Advance, please sign up at: www.basware.com/basware-advance-signup
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. We help our customers to succeed
and create added value to their business through better financial
management. 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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