Basware Corporation, the leading provider of Enterprise Purchase to Pay solutions (EPP), has entered into partnership with Procu FZ LLC, a Dubai Internet City company. Procu will market, implement and support Basware invoice automation and procurement solutions for enterprise clients, enabling them to dramatically improve the management and control of their accounts payable and procurement processes. Basware has been recognized as the leading invoice automation solution provider globally and ranks among the five leading eProcurement solution vendors according to recent surveys by an independent research firm.
Basware Enterprise Purchase to Pay suite is an end-to-end solution for automating the accounts payable and procurement processes. Implementing EPP helps organizations save cost on back-office operations in procurement and accounts payable, achieve higher efficiency and productivity, and ensure corporate governance and compliance.
The need for specialized Enterprise Purchase to Pay solutions seems to be ever more pressing in the GCC. "Gulf businesses need to remain competitive and deliver real value to customers. Cost saving in non-value adding back-office operations is one way they can improve competitiveness and focus on real value generation to their customers," says Shireen Atassi Rassool, General Manager at Procu. "In addition to this, businesses are going through a big change period from being family based businesses to large and publicly listed corporations. In this case, corporate governance and compliance with international financial standards such as Sarbanes-Oxley and IFTR must be at the top of CFOs agendas in order to attract foreign investors."
Basware solutions complement and integrate seamlessly with over 130 Enterprise Resource Planning (ERP) systems such as SAP and Oracle, adding functionality and scalability to system, Basware offers packaged solutions that require no customization, meaning that they can be implemented in an average period of 8 weeks, providing Return on Investment in an average of 9 months. Even smaller organizations can reap the benefits of EPP - any business with 15,000 - 20,000 invoices to pay a year will have a business case with considerable benefits to deliver.
Founded in 1985, Basware currently has over 1,200 large customers across the globe with over 650,000 users. Basware's customer base spans major industry verticals such as manufacturing, oil & gas, airlines, retail, construction, hotels, financial institutions, government and public services. . Customers include Finnair[1], KLM, Rolls Royce, IKEA Russia, Panasonic, ABB, Honda, ING, DHL, Ernst & Young and the City of Helsinki.
BasWare Invoice Automation solution consists of BasWare Invoice Processing and matching solutions for matching pre-approved purchase orders with incoming invoices. Basware Procurement solutions include Basware Purchase Management as well as sourcing solution Basware RFx Management and Basware Contract Lifecycle Management for developing and maintaining client/partner business agreements. Value-added module BasWare Key Performance Indicator (KPI) Reporting Tool measures cost, quality, productivity, strategic alignment and employee and supplier specific issues of the purchase to pay process.
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About Basware
Basware is the global leader in purchase-to-pay solutions with more than 1,200 customers and 650,000 users in over 50 countries around the world. Basware solutions automate business-critical financial processes and deliver value by providing compliance and control, as well as fast return on investment. The solutions are distributed and implemented in Europe, the US, and Asia-Pacific through an extensive network of Basware offices and business partners.
In 2007, net sales reached EUR 73 million. The growth target for net sales for 2008 is 15-25%. Founded in 1985, Basware Corporation is a public company listed on the Nordic Exchange Helsinki. Headquartered in Finland, it has seven subsidiaries in Europe and one in the US. www.basware.com
For more information about Basware Enterprise Purchase to Pay product suite, please contact
Procu
Shireen Atassi Rassool
050-459 5600
s.atassi@procuae.com
[1] Finnair achieved a saving of €1million annually since implementing Basware EPP in 2003.
© Press Release 2008
