BasWare strengthens the ‘purchase to pay cycle' with latest software releases   October 23rd 2006 BasWare, a 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, says BasWare, enables large organisations to increase process efficiency, while reducing the cost of the end-to-end financial function. Automation begins at the procurement stage and ensures faster process of invoice approval and payment. “It's amazing how few organisations have any control over their purchase to pay processes. Our own 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,” explained Esa Tihilä, General Manager, Europe and Americas , BasWare. “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 introduces management of the internal procurement process to increase the efficiency of procurement professionals while streamlining product catalogue management. Its key benefit is that it enables plan based purchasing which helps organisations 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. Improvements were influenced by the BasWare Industry Program, a working group made up of senior purchasing professionals and completed in 2005. The major enhancements in BasWare Invoice Processing (IP) 3.5 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 data validation.
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