November 3, 2014

Basware launches financing tool for SMEs

UK--Basware, a provider of e-invoicing and purchase-to-pay solutions, has launched Basware Advance, an online solution for small and medium enterprises (SMEs) for better control and management of their cash flow.

Basware Advance is part of Basware’s Financing Services product suite, following previous launches of Basware Pay and Basware Discount.

Basware Advance connects businesses with cloud financing engine Virtaus, a joint venture between Basware and Arrowgrass Capital Partners LLP, offering an e-invoicing based, supplier-driven invoice financing solution. It aims to optimize cash and working capital through digital participation in the Basware Commerce Network.

Using the Basware Advance solution within the Basware Commerce Network, SMEs can also see the status of invoices, specify the details of the financing required, sign the agreement and use the dashboard to track the status of the financing. The process enables them to receive payment within days, maintain visibility over the entire process and as a result gain greater visibility into cash flow.

Basware Advance will be initially available in the UK in early 2016.