New partners include Ximantix and Digital Invoice Gateway in Germany, Anachron, ClearBizz-Accounting plaza, TNT and Unified Post in the Netherlands, Husera TSP, GlobalEDI, InExchange and Locus in Sweden as well as Leadtec in Australia. With these new agreements, Basware extends its network to Australia, so that it is operating across all continents as a truly global network. The open network, which connects buyers and suppliers by forming interoperability agreements with local and global e-invoicing partners, supported millions of global transactions in 2009.
Basware's global open network allows suppliers to take advantage of their existing e-invoicing solution without needing to install proprietary technologies for connecting buyers and suppliers, which is often the case with traditional networks. Basware enables buyers and suppliers to use one single interface to connect with their business partners either directly via Basware or through its e-invoicing network partners.
By making it easier for suppliers to submit e-invoices, customers that use the Basware network can benefit from the complete control over cash flow and improved process efficiency that shifting to fully electronic processes provides. When coupled with e-invoicing, invoice automation accelerates payment times and reduces errors, speeding up processing and improving productivity by reducing manual workloads, inevitably improving customer relations as satisfaction levels rise. By introducing Invoice Automation and making the move to a full e-invoicing managed service, one of UK's leading pharmaceutical chains, Lloydspharmacy, has been able to increase invoice processing volumes by 40% without any additional headcount.
In order to take full take advantage of e-invoicing, the buyer-supplier relationship needs to work effectively. Traditional e-invoicing networks - those that allow suppliers and buyers to connect through the buyer's service provider only - usually limited to specific industries or countries. In a traditional network model, suppliers have to engage with multiple networks in order to access different buyers, a set up with considerable cost duplications. For large organizations wanting to reap the benefits of e-Invoicing, supplier activation is key. Basware's open network enables suppliers to connect freely with their local operator which then automatically process e-invoices to the buyer, regardless of their operator or location.
In the report "Enterprises Should Push Supplier Networks To Deliver Interoperability," Forrester Research, Inc., July, 2009, Forrester states that "Currently, most supplier network traffic goes through a single-hub model in which one network connects the buyer with its suppliers. A double-hub model, supported by network interoperability...would eliminate the need for companies to connect with multiple networks. Interoperability would accelerate supplier network adoption because: Suppliers would be happy to enroll in a network if it connected them with all their customers, enterprises would adopt networks enthusiastically, without the enablement barrier, Networks would be able to increase their revenues much faster."
"At Basware, we have seen clear demand for expanding our network and we are excited to be able to offer an extensive supplier/buyer network to our customers, especially as we move into new territories," commented Esa Tihila, SVP of Connectivity Services at Basware. "We are offering services that ease e-invoicing enablement, without forcing companies to commit to long term fees and multiple costly integration processes. As Basware continues to grow globally, we expect the network to continue to scale to meet our customers' needs."