Basware Commerce Network gets new features

The first feature, the Business Directory, allows businesses signed up to the Basware Commerce Network to easily search and find any trading contacts, such as suppliers and customers, and add them to their personal e-invoicing address book. This will boost further adoption of e-invoicing and bring payment efficiencies.

There are two ways to use the Business Directory. The first is simply to search for your customer or supplier manually by typing their name into the search field. Once found, it’s just one click to ‘Add to My Network’. The second method, to be introduced during the second quarter of 2016, is to import a list of your suppliers or customers and let the network match them against the entire Business Directory. T

The second feature is the Vendor Manager – a tool for larger organisations to provide self-service for vendors to manage their own data on the network. Vendor data maintenance is a key challenge for both accounts payable and procurement functions in an organisation.

In effect, buyers empower businesses in the supply chain to manage key data required to process and pay invoices to the right accounts, on the right terms and in a timely manner. In making the changes themselves to certain fields, they can get paid more efficiently. This might include a change to the accounts payable contact, a new bank account number, or enriching the invoice data with the buyer’s own internal vendor code for improved invoice-to-order matching. Vendors can also upload documents required to establish a business relationship with the customer such as industry certificates or annual tax forms (US).

Vendor Management is globally available via the Basware Commerce Network from January 1, 2016. The Business Directory will be available in the Nordics immediately and in further markets throughout 2016.

For more information about Basware, please check out a detailed profile of this company in our dedicated, industry-specific online companies database.