Basware launches NetworkPay for supplier payments

Its purpose is to make sure that ensures suppliers are paid quickly upon invoice approval while extending payment terms for buyers.

Basware NetworkPay is an integrated payment solution that allows organisations to make check, ACH, virtual card and wire payments from a single application - allowing buyers to eliminate manual payment processes and to take advantage of early payment discounts suppliers offer.

Clients can generate rebates on their spend, completely automate their purchase-to-pay process and fund the cost of the software through earned processing efficiencies — all without changing existing business processes. For suppliers this translates into faster payments, DSO reduction and better control over cash flows, Basware explains.