HCL, Basware Partner To Enhance P2P Processes
With the Basware P2P model, HCL will help customers align their procurement and finance organisations
HCL Technologies Ltd., the IT services provider, has announced its strategic partnership with Basware, a leading provider of purchase-to-pay solutions. HCL will leverage Basware’s Invoice Automation, Travel & Expense, Procurement and Connectivity solutions to deliver customers with process enhancements and increased cost reductions. With the Basware P2P model, HCL will help customers align their procurement and finance organisations as well as ensure effective networking of P2P processes with the supply base.
"Customers are fast realising that automating their purchase-to-pay process is an important way to drive significant cost reductions and improve productivity. Our partnership with Basware completes HCL’s F&A BPO strategy to provide end-to-end finance & accounting services across the purchase-to-pay (P2P) landscape. This partnership with Basware powers HCL’s P2P services by providing customers with a strong technology platform, and the ease to shift to e-invoicing while benefiting from process efficiencies and cost reductions," said Randy Mueller, Vice President – Finance & Accounting, Business Services, HCL Technologies Ltd. "We are pleased to be working with HCL to help their customers reap the benefits that purchase-to-pay automation delivers, such as cost savings, greater productivity and streamlined processes," said Ari Salonen, Basware General Manager, North America. "Most importantly, these companies will gain critical visibility and control over their entire company-wide spend."
The Basware partnership will strengthen HCL’s P2P solution to enable customers to substantially reduce invoice processing time and maximise straight-through processing with minimal manual intervention. HCL’s P2P solution will provide significant improvements to working capital requirements by improving Days Payable Outstanding (DPO), eliminating duplicate payments, avoiding interest charges on late payments, and taking advantage of early payment discounts offered by suppliers. Additionally, the flexibility of the Basware solution to support 19 languages and adapt to local variations of customers’ accounts payable process and regulatory environment will enable HCL to implement the solution in multiple geographies.
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