Basware has announced the addition of supplier functionality to its Basware Connectivity services, offering accounts receivable (AR) departments in Australia and New Zealand a hosted solution to switching to fully electronic invoices.

Basware Connectivity for Suppliers enables Accounts Receivable (AR) departments to deliver all sales invoices to their customers electronically irrespective of the invoice format required by the customer organisation.

The service processes the invoice in an electronic format and routes them to the customers’ invoicing processing systems, e-mail addresses or a printing service, depending on the recipient’s choice.

Once invoices are delivered, they are archived to guarantee integrity, enabling future compliance where there are legal requirements for storing e-invoices.

According to independent research company Billentis, organisations can save as much as 57% per invoice in costs by turning their sales invoices electronic.

“An increasing number of Accounts Receivable departments are facing demand from their customers to provide e-invoices. We are already seeing this become a key criterion in vendor selection processes as they seek to improve collaboration across their supply chains,” said Karri Lehtonen, VP of Basware Australia and New Zealand.

“With these new services, Basware Connectivity allows Accounts Receivable teams to switch to e-invoicing instantaneously, without having to manage paper processes concurrently to cater for customers who are in the early development phases of their e-invoicing strategy. This allows suppliers to gain competitive advantage over their competitors while meeting the billing needs of existing customers.”