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Vesa Tykkyläinen, CEO Managing business travel expenses has always been a tough task and with globalization, business mobility and global expansions, things have gotten worse. Business firms are struggling with cost management; sometimes it is because employees are not aware of what falls under company's expenses and what not; also late submission of expense reports, inefficient or manual processes, error in data entry and uncertain policies lead to additional issues. However, with the right solution and software, businesses can avoid these tricky situations and make themselves in good standing. Basware, with over three decades of experience in the finance market, is helping businesses in achieving the level of convenience in travel and expense management, where they can have control over the tricky situations. The company offers help to businesses of all sizes and allows them to grow by unlocking value across their operations and streamlining financial processes. With Basware’s solution, the businesses can easily control travel and expense costs and reimburse employees faster.
Robust TEM Solution
Basware's travel and expense management (TEM) solution keeps the travel and expense management grounded and captures the expenses on-the-go and organizes costs—before spending happens. Not only this, but it also reimburses employees faster because it completely avoids the manual entry and inefficient processes. Due to its remarkable features, the company's T&E management solution easily integrates into the client's system to control the expenses and also manages another area of notoriously high organizational spending. It also enhances employee satisfaction by giving them the option to submit their checks and receipts through their mobile, which automatically cuts the paperwork and hassle, and speeds up the reimbursement process. Besides, Basware's TEM solution can be integrated into other solutions of the business to pull in business credit card purchases. The solution comes along with built-in rules for per diems and vehicle usage costs and also company policy, local legislation, and agreements that minimize incidents of fraud, avoid errors and help employees benefit from easy self-service.
Since traveling is a recurring process in any business and people know well ahead of time that when and where they are going to travel, it is always great if they make the arrangements to take advantage of discounts. But legacy systems and manual processes usually delay the process, and the outlay report sits in the manager’s inbox for days for final approval. However, with Basware’s TEM, this process can also be fastened as it helps managers in taking a decision quickly while enabling travelers to take advantage of early booking discounts and to get peace of mind – knowing that they will be reimbursed without any delay.
Further, mobile access removes the blockage and opens up new profit opportunities, allowing corporate leaders to make financial decisions with greater confidence.
Basware’s travel and expense management (TEM) solution keeps the travel and expense management grounded and captures the expenses on-the-go and organizes costs – before spending happens
Atea is one of the customers of Basware that adopted TEM solution and conveniently saved managers’ time and produced cost savings too. The leading supplier of IT infrastructure in the Nordic and Baltic regions wanted a combined solution that provides purchasing, automated invoice processing, and travel and expense management. Plus the solution should also support their decentralized purchasing strategy and get easily integrated with their existing ERP and payroll systems.
Atea always has a record of letting its employees do their purchasing themselves and do not believe in centralization. So when it comes introducing a purchasing system that supports this decentralized strategy, the company chose Basware. “Our aim was to find a purchasing system that could support our strategy of making individual employees responsible for all indirect purchases,” explained Rune Pind Nielsen, Atea’s Accounts Payable Manager.
The client also wanted a solution that could be integrated with all the other existing solutions and could automatically exchange master data with existing ERP systems, including the payroll system. “We identified five suppliers who could live up to what we wanted, but only Basware had all three systems in a mature ‘out-of-the-version.’ For us, what was really important was that we could make our decentralized purchasing strategy even stronger. Basware’s system could do that—no problem,” added Nielsen.
Reimaging Financing Services
Apart from providing TEM solution to businesses for helping them to manage travel and expense, Basware also offers the best financial supply chain solutions and experience. The company’s commerce and financing network connects businesses in over 100 countries and territories around the world. The wide range of offerings from Basware includes Purchase to Pay, Network Services: Sending, Network Services: Receiving, and Financing Services.
Purchase to pay solution enables businesses to generate revenue from operations and support development with a fully-integrated, seamless purchase-to-pay process. It also helps in gaining control, making smarter buying decisions and release working capital. By automating the purchase-to-pay process, the solution simplifies operations for businesses, assists them to spend more intelligent, and support growth by cost savings for new revenue to fund growth initiatives.
Network Services: Sending is all about sending bills in more preferred formats while pushing the payment process faster and diminishing processing costs by 40-60 percent.
Financing Services help businesses in enhancing balance sheet, generating savings and provides better control and visibility. The incredible features of financing services also increase working capital, transform the way businesses pay, and deploy strategic payment programs. Besides, Basware also offers solutions like e-Procurement, AP Automation, Analytics, and Business Consulting.
Innovation is in DNA
Basware does not fear to be called the largest open business network. The company believes in hard work and dedication and expects the same from its employees too. The core values that the company follows to always be on the right track are it believes in leading the way, driving customer success, striving for excellence, and inspire and be inspired. The company also provides a friendly and healthy work culture.
Recognizing Basware’s commitment, the Charlotte Business Journal has recently named the company the Winners Circle of its prestigious 2018 Best Places to Work awards competition. The companies for this annual award have been chosen on the basis of benefits, policies, and practices that they offer to its employees. Basware is getting this award for the last five years. Besides, Gartner has also recognized Basware as 2018 Magic Quadrant Leader for Procure to Pay suites for the third time this year.
Basware is not only great in providing innovative solutions to boost the business, but it guarantees to future proof one’s business through partnership also. By collaborating with Basware’s Partner network, businesses can enable adoption, drive compliance, unlock revenue, and deliver massive B2B efficiencies. The other advantages of Basware partnership are it provides its partners to go global, achieve hundred percent, and value beyond numbers.
Apart from these, Basware values its customers a lot which has developed an unbreakable trust leading to billions-worth of transactions flowing through one single network. The noted customers of the company are Toyota, McDonald’s Germany, ArcelorMittal, Philips, ADT & TYCO Fire, Heineken, Panasonic, Toshiba, Sonic, and several more that have achieved great heights while working together with Basware.
Basware aims to serve the industry with its great solutions in the future also. The company believes that collaboration between suppliers and partners is the key to a successful business. On that note, Basware has recently signed a partnership agreement with Fitek Slovakia to increase its presence in Central Eastern Europe. Fitek is the provider of best-in-class financial automation processes. Through this collaboration, Fitek will be offering Basware’s accounts payable automation solution to Slovakia and surrounding countries. The company has also partnered with Xerox in July. As part of the deal, Xerox will manage Basware’s scan and capture services operation, totaling 24 million invoices per year. Together the companies will also enable their customers to access the world’s largest e-invoicing network and outstanding scan and capture global capability from Xerox. “We want to help customers simplify their operations, spend smarter, and make all of our customers’ purchasing processes digital. This partnership is another strong example of how we increase operational focus and executes our strategy,” says Vesa Tykkyläinen, CEO, Basware Corporation.
