Monthly Archives: April 2013

Basware Records Record Growth

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Basware, a leading provider of e-invoicing and purchase-to-pay solutions, has reported record growth, with more than 50 million e-invoice and e-order transactions sent and received across its business commerce network. Basware’s solutions are popular with customers because they enable easy connectivity to the network for companies of all sizes from any location. This milestone represents $420 billion spent annually on the Basware Commerce Network from more than 900,000 active buyers and suppliers trading across more than 100 countries

As further evidence of this commitment, Basware is launching three new solutions within the Basware Commerce Network: Basware Portal for Receiving, Basware Portal for Tracking and Basware e-Invoice Email Lite. All have been designed to deliver on Basware’s strategy of enabling connected commerce for small, large and global businesses, providing sustainable cost savings, proactive insight to cash flows and improved buyer–supplier relationships for all.

The growth of the Basware Commerce Network is being driven by a number of factors. Government and larger enterprise buyers are increasingly forcing suppliers to submit invoices electronically, commerce is increasingly cross-border as companies take an international approach, and businesses of all sizes are realizing the cost and time-saving benefits of e-invoicing. According to the 2012 Global E-Invoicing Study, approximately two thirds of businesses receiving true e-invoices via an e-invoice service provider reported a significant reduction in the costs of invoice processing.

The Basware Commerce Network is founded on the principles of openness to encourage all types of organizations to collaborate and trade, and the number of active buyers and suppliers trading in the network is now more than 900,000. Seamless connections with more than 160 international e-invoicing platforms make it the largest inter-operator network in the world, with buyers and suppliers exchanging e-orders and e-invoices between organizations located in more than 100 countries.

Basware’s new suite of services is designed to ensure that companies of all sizes can reach their suppliers and customers with e-invoicing programs. Benefits include greater insight, control and automation for customers and suppliers alike.

Basware Portal for Receiving: Enables e-invoices to be sent and received easily and securely to customers through the Basware Commerce Network. It provides full visibility into the delivery status of all invoices, removing uncertainty and allowing better forecasting of cash flow. The module is particularly well suited for companies that don’t have an automated invoice processing system or the capability to receive true e-invoices. Features include email notifications and the flexibility to view, sort, store and download invoices in PDF or XML formats. Receiving companies can also easily engage their suppliers and raise questions through the portal, allowing quick resolution of an issue.

Basware Portal for Tracking: Takes all the complexity out of monitoring and tracking invoices by giving suppliers greater insight into the status of their invoices. This makes accounts payable teams more productive and enables them to focus on core activities by reducing the amount of time spent responding to supplier inquiries about payment status. The module works with most existing invoice processing software packages.

Basware e-Invoice Email Lite: Many organizations send invoices in PDF format, and buyers typically have to spend a lot of time capturing, extracting and validating the data from these invoices. However, converting these PDF senders into true e-invoice senders can be challenging and time consuming. These problems are solved by Basware e-Invoice Email Lite, which allows PDF senders to continue to send PDFs while extracting all the relevant, detailed line item information before adding it straight into an invoice automation system for automatic matching and processing.

Click here to view the entire Basware press release.

Download a complimentary PayStream report to learn more about Baware’s solutions.  Basware has underwritten a number of PayStream reports that include a detailed Basware profile, including:

Concur Unveils Concur App Center

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Last week at the Concur Fusion conference in Las Vegas, NV, the company unveiled the Concur App Center – designed to help businesses and their travelers discover applications that deliver significant value to the enterprise as well as to their business traveler.  Through the Concur App Center, web and mobile software developers can list applications (apps) that are integrated using Concur’s open platform.

Through the new app center, business travelers and clients can find and evaluate applications that interact seamlessly with Concur. Examples include:

  • Apps for my Company: Clients can uncover turnkey solutions like those from CIBT which will automatically alert travelers if they require a Visa, based on their travel plans. The Cegedim app will offer integration from Concur solutions with their global OneKey physician database to help ensure compliance with international regulations for the Life Sciences industry.
  • Apps for Me: Users can link their Concur accounts with e-receipt providers and to apps they already love like TripIt. Additionally, through Concur Open Booking users will be able to link their accounts with travel suppliers like Avis so reservations made on Avis.com flow automatically into Concur and TripItPro.

Concur clients will have access to a growing array of partner applications in the Concur App Center that will help travelers create the perfect trip.  Click here to view the entire press release that includes a list of Concur’s latest partnerships.

To learn more about Concur’s travel and expense solutions, download the recently released 2013 Travel and Expense Management Benchmark report.  The report is complimentary and includes a detailed Concur profile and case study.

 

 

 

Kohler Co. Selects Perceptive Software Solution

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Kohler Co., one of America’s oldest and largest privately held companies with more than 50 manufacturing locations worldwide, has selected Perceptive Software’s Content and Intelligent Capture solutions to facilitate a standardized, automated accounts payable process across the company’s global shared services operation.

The technology will be implemented within Kohler Co.’s SAP enterprise resource planning system over the course of a three-stage rollout to include shared services operations in the Asia-Pacific, North America and EMEA markets.

Perceptive Content enables users to access documents and share information readily, which increases responsiveness, minimizes risk, creates operational clarity and fosters opportunities for continuous improvement.

Perceptive Intelligent Capture, powered by Brainware, eliminates manual data entry from the accounts payable process, shortening cycle times and improving accuracy while freeing up personnel to focus on more strategic or mission-critical activities. By integrating with SAP without the need for templates, Intelligent Capture provides a rapid return on investment by scaling to process a number of languages and currencies, making it an ideal application for establishing uniform global routines.

“We tested a number of available automation solutions, and Perceptive Software’s platform was able to extract more than eighty percent of field data from Chinese and Thai invoices sight unseen, far better than any of the others,” said Ming Zhang, Sr. Systems Analyst, IT Asia-Pacific Corporate Services for Kohler Co. “In pursuing a streamlined, consistent and reliable system for our global accounts payable strategy, we determined that the ability to accommodate regional differences and requirements was of paramount importance in anything we implemented. Perceptive Software was the clear winner in that regard.”

Click here to view the entire press release.

Download a complimentary copy of PayStream’s Receivables Document Management: Moving Toward a Paperless AR Organization to learn more about Perceptive Software’s solutions.  This report includes a detailed Perceptive Software profile and case study.

PayStream Research Reveals that 36 Percent of Companies in the U.S. Automate their T&E Process

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Is your company’s Travel and Expense process fully automated?  If not, your company is missing out on potential savings by driving travel and expense compliance and reining in rogue T&E spend.  If your company isn’t automating, the good news is that it’s not in the minority yet; however, Travel and Expense Management (TEM) solutions are on the rise. Survey results reveal that over one-third (36 percent) of survey respondents report that their T&E process is fully automated and is a single/integrated system, up 4 percent from 2012.

In an effort to gain insights and current trends in TEM solutions, PayStream conducted an in-depth survey in Q1 2013, of over 200 accounts payable and finance professionals at U.S. based enterprises.  Key survey findings include:

  • Companies continue to increase the amount of money they spend on T&E.  Fifty-eight percent of survey respondents report their T&E spend increased over the last three years.
  • The inability to enforce corporate travel policies (43 percent) ranks as the number one challenge that organizations face in the expense management process.
  • Automated solutions ranks as the number one expense report submission method (53 percent).  Nearly one-third (32 percent) of survey respondents are still utilizing inter-office mail.
  • Fewer paper receipts are mailed to the AP department for expense receipt submission (45 percent, down 3 percent from 2012).
  • Direct deposit to employee bank accounts ranks as the number one expense reimbursement method – 55 percent.
  • Over half of survey respondents (52 percent) are required to submit a receipt for all expenses.
  • Over one-third (36 percent) of survey respondents report their companies are fully automated and use a single/integrated TEM system.
  • The belief that current TEM processes work (27 percent) is the number on reason organizations have not automated the T&E process.
  • Forty-four percent of survey respondents are currently using a best-of-breed T&E provider and another 12 percent are planning to in the next 6 months.
  • Reporting and analysis capabilities are the most widely used feature of TEM solutions – 74 percent.
  • The biggest benefit achieved through automating the T&E process is improved visibility over spend – 56 percent.

Every business trip starts with planning and booking, and ends once all business travel expenses are reimbursed.  The intricate details that occur between planning and reimbursement present an opportunity for companies to enforce compliance of travel and expense policies in order to maximize savings.  Travel is one of the highest single expenditures for companies, which is why it’s one of the largest opportunities for savings.  Travel and Expense Management (TEM) solutions work to streamline the entire process, providing an end-to-end solution from pre-trip approval and online booking to travel receipt capture and expense reimbursements, while ensuring corporate travel compliance is strictly adhered to.

The 2013 Travel and Expense Management Benchmark report was underwritten in part by Chrome River, Concur, Coupa and SAP. Read an abstract of the report HERE or LOGIN and download the entire report for free.