Electronic invoicing company Basware is teaming up with bill payment company AcceptEasy to facilitate eInvoice presentment and payment acceptance for joint customers.
In a press release Thursday (Jan. 18), the companies said they are working together to help companies that send electronic invoices and need to accept payments from businesses and consumers.
“Businesses send invoices to lots of consumer and small business customers,” said Basware senior vice president of network and financing services Mikko Pilkama in a statement. “These invoices can represent a high percentage of the total volume of invoice flow, and it is financially beneficial for the company if they are paid easily and quickly.”
The executive noted that Mercedes-Benz Financial Services and Mercedes-Benz Insurance Services have deployed the joint solution offered by Basware and AcceptEasy, using it to send invoices and receive payments in a unified platform.
“We are proud of this partnership,” added AcceptEasy CEO Peter Kwakernaak. “Basware and AcceptEasy are market leaders in their respective spaces. We both have a focus on household names with an international footprint and a shared mission: facilitate digital payments for companies in all possible communication channels, creating a frictionless payment experience for their customers.”
Last November, Basware announced enhancements to its eInvoice and source-to-pay capabilities, adding machine learning technology to allow companies to code invoices that aren't linked to a purchase order.
“Traditionally, non-PO invoices are automated with business rules that are laborious for customers to manage,” explained Sami Peltonen, Basware vice president of purchase-to-pay product management, in a statement at the time. “To create a more touchless process, we developed an intelligent algorithm to determine the most accurate cost allocation for non-PO invoices.”
In a separate collaboration, Basware has also partnered with corporate payments company WEX to accelerate B2B transactions, provide a real-time invoice payment solution and link joint corporate customers to an early invoice payment discount program.