BasWare Strengthens Enterprise Purchase to Pay Portfolio.Improved Tools Cut Invoice Handling Costs, Increase Efficiency of End-to-End Financial Process STAMFORD, Conn. -- BasWare, the leading provider of financial automation software, 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 organizations to increase process efficiency, while reducing the cost of the end-to-end financial function. Automation begins at the procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. stage and ensures faster processing of invoice approval and payment. "It's amazing a·maze v. a·mazed, a·maz·ing, a·maz·es v.tr. 1. To affect with great wonder; astonish. See Synonyms at surprise. 2. Obsolete To bewilder; perplex. v.intr. how few organizations have any control over their purchase to pay processes," said Esa Tihila, General Manager, Europe and Americas, BasWare. "Our 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." BasWare Purchase Management (PM) 3.4 enables procurement professionals to efficiently manage the internal procurement process, while streamlining product catalogue management Product catalogue management refers to the support of product management in the management of product information in a structured and consistent way in the form of catalogues. . Its key benefit is that it enables plan-based purchasing, which helps organizations 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. Product enhancements were driven by feedback from the BasWare Industry Program, a working group comprised of senior purchasing professionals. BasWare Invoice Processing (IP) 3.5 provides an organization with a highly automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. 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 (1) In a disk or tape file, a set of data that resides permanently at the beginning. It may be used for identification only (type of file, date of last update, etc.), or it may describe the structural layout of the contents, as is common with many document and database formats. data validation In computer science, data validation is the process of ensuring that a program operates on clean, correct and useful data. It uses routines, often called validation rules, that check for correctness or meaningfulness of data that are input to the system. . Additional enhancements enable organizations to further strengthen security and auditing functionality. Completing the updates to the portfolio is BasWare Document Archiving (DA) 3.0. This solution provides instant access to electronically stored documents including reports, invoices, contracts, and statements. Major enhancements include the complete re-design of DA client screens, improved usability and compliance, as well as document versioning, info-flow and direct link to the BasWare Contract Matching application. 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 organizations set up internal procurement policies and streamline their AP practices. For more information on BasWare Enterprise Purchase to Pay product portfolio, please visit http://www.basware.com. About BasWare BasWare is the global leader in Enterprise Purchase to Pay and Financial Management solutions. More than 450,000 end-users in over 20 countries use its software to automate back-office financial operations to enhance efficiency, gain process control and transparency, and meet compliance requirements Compliance requirements are a series of directives established by United States Federal government agencies that summarize hundreds of Federal laws and regulations applicable to Federal assistance (also known as Federal aid or Federal funds). . BasWare's products are widely used in Shared Service Centers. In 2005, net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight reached $53 million. The growth target for net sales for 2006 is approximately 40 percent and will continue to be supported by a growing network of value-added resellers A value-added reseller (VAR) is a company that adds some feature(s) to an existing product(s), then resells it (usually to end-users) as an integrated product or complete "turn-key" solution. . Founded in 1985, BasWare Corporation (HEX:BAS BAS abbr. 1. Bachelor of Agricultural Science 2. Bachelor of Applied Science ) is a public company listed on the Helsinki Stock Exchange “HEX” redirects here. For other uses, see HEX (disambiguation).
For Wikipedia's help pages, see . . Headquartered in Helsinki, Finland, it has eight subsidiaries in the U.S. and Europe. The company's U.S. business, BasWare, Inc., is headquartered in Stamford, Conn. More information can be found at www.basware.com/us. The BasWare name is a registered trademark of BasWare Corporation. The BasWare logo is a trademark of BasWare Corporation. |
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