Finnish software company Basware has signed an international agreement with WEX, a provider of corporate payment solutions, to offer a new B2B invoice payment solution for real-time electronic payments.
The automated, real-time payment solution allows businesses to enhance their purchase-to-pay (P2P) process and working capital management.
Using this solution, buyers can gain access to early payment funding while suppliers can choose to get paid faster and with greater certainty.
Additionally, businesses can benefit from improved financial processes, early payments and frictionless cash flow.
WEX SVP and GM for virtual payments Jim Pratt said: "We are excited to be working with Basware: our cooperation provides WEX with an opportunity to offer a new, real-time payment alternative with the benefits of automated reconciliation, increased cash flow and faster payments."
Basware CEO Esa Tihilä said: "We are pleased about our partnership with WEX which will enable more organizations to benefit from real-time electronic payments.
"New and innovative supply chain finance options are creating new opportunities for business growth and working capital management. Buyers and suppliers are able to finance payables or receivables in order to optimise cash position and to achieve flexibility and improved visibility."