Basware launches Basware Discount as part their Commerce Network
Basware Discount is a service on the Basware Commerce Network in which buyers can set up an early payment program for their suppliers on their e-invoicing programme. Buyers invite their suppliers to participate, and capture discounts as in any Dynamic Discounting programme. Basware provide an interesting tool for suppliers to assess how much discount they will have to give the buyer, see figure.
Basware Discounts assessor for buyer
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Early payment discounts are calculated based on the maximum discount rate and the actual payment date relative to the net payment terms.
Basware Discount is available for their users world-wide.
Successful Dynamic Discounting programmes
Basware believe there are three key elements which make early payment programs both interesting and successful:
- Mature AP Processes: if you can approve your invoices quickly then paying early becomes an option.
- e-Invoices: receiving invoices fully electronically is the number one contributor to an efficient AP process.
- Networked Purchase to Pay: the most efficient way to transition to a 100% e-invoicing program is by connecting your P2P process with a B2B network.
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