Friday 2nd March, 2012

Basware (leading provider of purchase-to-pay solutions) and Transparent (specialist in data mining and accounts-payable (AP) analysis) have signed a cooperation agreement.

Basware’s present and future clients can have their AP process screened to reveal undue payments on a no-cure no-pay basis and at the same time receive up-to-date management data and advice to optimize their AP process.

Jörgen Hensgens, Basware Vice President, Benelux: “Our cooperation with Transparent allows us to offer our clients an extra service that determines whether, for instance, they have mistakenly paid invoices twice, missed out on payment discounts or booked in the wrong VAT rate. At the same time, with Transparent Benchmarking, we can give them insight into how well their AP process is working, also in comparison with their peers. The ideal moment to carry out a baseline study is before a company implements the Basware software That will answer various questions, such as: ‘How much of my working capital is hidden at my suppliers?’, ‘How efficient is my AP process?’ and ‘How can I improve my AP process?’ At a time when many companies are facing economic challenges, this service offers a solution.”

Willem-Jeroen Stevens, Transparent CEO: “Research has shown that up to one in a thousand invoices is paid in error. We can help companies trace these errors. We analyze clients’ outgoing invoices and associated processes, with the objective of converting the data into detailed management information, by means of data mining. During the procedure, we identify, verify and collect undue payments on a no-cure no-pay basis. We present the results on the Transparent dashboard, which provides clients with real-time management information and clear advice on how to improve their AP process. I am very proud to link our name with Basware – a solid brand in financial process improvement, with software that more than a million users trust.”