Basware Pay provides a seamless, easy to deploy global payment solution. Provided in collaboration with Baswares global payments partner, Mastercard, it offers buyers the ability to quickly and reliably pay suppliers all around the world. With the benefit of credit available via Mastercard member banks, suppliers can get paid faster while buyers can enjoy extend payment terms and increase cash from improved Days Payable Outstanding.
The revolutionary way of automating payments gives you savings, control and visibility – as well as making suppliers happy.
Improve your bottom line by paying suppliers faster and taking a discount for early payment. They get paid early and you pay less.
All companies know the value of cash. Basware Financing Services are designed to allow you and your suppliers to optimize cash and working capital through digital participation in the Basware Commerce Network. Buyers can extend Days Payable Outstanding to increase cash while enjoying the savings of attractive early pay discounts. Suppliers get new options to get paid faster with greater certainty and less hassle, thus dramatically decreasing their Days Sales Outstanding. It’s a win-win for all parties.
Offering early payment to your suppliers is both an opportunity and a problem solver. In terms of solving problems, handling supplier inquiries is one of the most time consuming aspects of the Accounts Payable function. Why are your suppliers calling? Invariably these suppliers are looking for their money and it’s almost a certainty, that the suppliers who are calling are the smallest. Why does it matter if they are small? It matters because the payment they are chasing is more important as a proportion of their total accounts receivable and therefore, it’s more valuable to them. Because early payment is valuable to suppliers, they are willing to offer discounts in exchange. Today, more and more organizations are leveraging their efficient processes in order to pay invoices quickly and maximize the discounts they can capture. From your supplier’s perspective, an invitation for early payment will generate immediate interest. Improving cash flows and providing early payment assurance both saves your supplier time and puts cash in their account sooner.