Basware Launches New Working Capital Solution

PayStream has learned that Basware, one of our partners and a global eInvoicing provider, has launched Basware Discount,  a new solution within its Financing Services portfolio.

The solution, which enables buyers and vendors to optimize invoice payment terms for better working capital management, grabs our attention for both its scope and its utility. It will be a service within the Basware Commerce Network and will allow more than one million businesses to benefit from early payment terms, managed online in real time. In addition, it offers payment terms on a sliding scale so that earlier payments yield larger discounts.

Basware is offering this product as a response to the trend of companies holding onto their cash and paying their suppliers late. This trend results in cash flow problems and bottlenecks in B2B commerce, and according to Ad van der Poel, SVP of Basware Financing Services, Basware’s own users are demanding solutions.

“Our customers were asking for e-payment and early payment services,” said van der Poel. “With over one million buyers and suppliers exchanging more than 80 million e-invoices and other electronic business documents over the Basware Commerce Network, we shouldn’t be surprised that 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 that help companies of all sizes optimize working capital management.”

PayStream is excited for Basware and their new software. We wish them luck in improving buyer and supplier relationships and enhancing B2B commerce.