Basware Purchase-to-Pay is a software suite containing cloud-based e-procurement software that allows finance and procurement to work together. Basware's e-procurement tool helps organizations with compliant purchasing and automating invoices so there is better financial control and connections with suppliers during the purchase-to-pay process over the largest open B2B network, according to Basware. This facilitates finding early pay discounts along with "best-fit" payment options to manage capital.
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How does Basware e-procurement simplify the procurement process?
Basware Purchase-to-Pay is made up of unique components that are aimed to streamline the procurement process. Basware's e-procurement tool offers compliant purchasing which makes e-procurement an online-shopping-like experience for businesses. With that, contract compliance, catalog content capture, purchase requisitioning and order processes can all be advanced while companies can also control costs with greater user adoption, mobility and collaboration with suppliers.
Basware e-procurement tool is not specific to one industry and is mainly used by large enterprises as well as SMBs through the Basware Commerce Network, a network that connects suppliers with over 200 B2B networks around the world. Basware's Commerce Network eases the process of sending and receiving invoices so orders process more smoothly, payments are made quicker and errors are lessened, lowering operating costs and bolstering cash flows.
While e-Procurement can be implemented on its own, as most of Basware's software is modular, there are also more components in Purchase-to-Pay. Automation for purchase requisitions and orders gives companies financial control over invoices and ordering workflows. Automation is combined with e-invoicing which helps users manage requisitions, purchase orders (POs) and receipts. Contract lifecycle management from Basware Contracts fully automates and monitors contractual matters and helps in gauging the accuracy of cash flow and management.
More specifically, in the Purchase-to-Pay package there is also Accounts Payable (AP) Automation that offers financial control and visibility into invoices and POs. Also offered from Basware is e-invoicing, a paperless alternative to strengthen automation and capital management that integrates with your payables and receivables system. According to Basware, switching to e-invoices can cut AP costs drastically.
While Basware Purchase-to-Pay contains e-procurement software, it also automates financial processes which includes AP, e-invoicing, order management, travel & expense management, spend analysis, supplier networks and working capital optimization (financing services).
Analytics, which is an add-on to the Invoice or Purchase modules, assist in management of spending, suppliers, procurement KPIs, AP KPIs, cash flow, liabilities and working capital across the organization, providing complete visibility within the Purchase-to-Pay package. Also Basware offers Financing Services to help with payment and financing between buyers and sellers, which needs Basware's Commerce Network. All of these features are part of the Basware Purchase-to-Pay package.
In addition to being able to run on a desktop computer, Basware makes access available on mobile and tablet devices. Basware simplifies system integration since it has experience from more than 250 ERP systems along with multilingual and multi-ERP implementations in locations all around the world.
Since it is cloud-based, every month, Basware updates its Purchase-to-Pay software with the most recent set including an upgraded shopping experience on mobile devices. Notable analytics features from Basware include supplier, spend and procurement KPI dashboards.
How is Basware Purchase-to-Pay licensed, priced and sold?
Basware's software products, including e-Procurement, are primarily licensed as a SaaS along with a monthly subscription fee with an on-premises license available. Software suites from Basware are priced by the number of users, transactions and products or packages chosen. When purchasing a standardized P2P suite, though, there is a fixed cost.
Basware products can only be purchased directly through Basware and its business associates and there are no free trials offered. When companies choose to implement Basware software, support can be received from Basware's customer support team as well as a choice of four other levels of customer service management. Clients can pick which is best for their organization and the costs vary depending on transactions and user amounts.
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