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Basware and Transparent join forces to reveal hidden working capital |
30/01/2012 |
Amsterdam, 12 January 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.”
About Transparent
Transparent is fully specialized in data mining and accounts-payable analysis. Founded in 2000, the company has grown rapidly into a global service provider that serves clients in the Netherlands, Germany, Belgium, France, India, the United Kingdom, Italy and the United States of America.
Transparent converts hard objective data into detailed management information for three reasons: Recovery of lost working capital (based on no-cure, no-pay), Insight into the AP process (free of charge) and Interactive Benchmarking (also free of charge). This helps clients improve their bottom-line results, limit the risks and costs, errors and cut down on the complexity of the AP handling process. Transparent’s clients include many large and medium-sized companies in the private and public sector. In the Netherlands, 40% of the companies listed on the AEX are included in the client base. For more information, please visit: www.transparent.eu
About Basware
Basware is a leading supplier of purchase-to-pay solutions with more than a million users in 60 countries. Basware Open Network for e-invoicing and purchasing transactions connects more than 320,000 companies worldwide. With Basware, companies can make cost savings on purchasing and payment of goods. Automating the invoice-handling process – from sourcing, contract management, purchasing, and cooperative relationships with suppliers to automatic invoice processing – provides clear visibility over the entire procurement process. Basware’s solutions and services help companies improve their cash flow management, optimize their working capital and incorporate their financial administration in the purchase-to-pay cycle. Basware solutions are distributed on site or as services implemented in Europe, the United States of America and Asia through an extensive network of local offices and business partners. For more information, please visit: www.basware.com/nl
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