HCL Tech, Basware partner to grow P2P processes

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HCL Technologies today entered into a affiliation with Basware Corporation for consecration of the Finnishcomputer application provider’s purchase-to-pay solutions to advice advance its own chump commitment processes and accomplish amount reductions.

HCL will advantage Basware’s balance automation, accretion and connectivity solutions for action accessory and added amount abridgement to advice its audience advance productivity, HCL Technologies said in a filing to the Bombay Stock Exchange.

“Customers are fast-realising that automating their purchase-to-pay action is an important way to drive cogent amount reductions and advance productivity,” HCL Tech Vice President, Finance and Accounting, Business Services, Randy Mueller said.

The Basware affiliation will accredit barter to essentially abate balance processing time and maximise straight-through processing with basal chiral intervention.

HCL’s P2P band-aid will additionally accommodate cogent improvements with account to its clients’ alive basic requirements by convalescent Days Payable Outstanding (DPO), eliminating alike payments, alienated absorption accuse on backward payments and demography advantage of aboriginal acquittal discounts offered by suppliers through Basware’s purchase-to-pay solutions.

According to a Forrester report, titled, ‘Predictions 2011: e-Purchasing Bazaar To Grow 12%’, the e-purchasing bazaar is predicted to attestant an access in 2011, demography its admeasurement to over $4.4 billion, which indicates that P2P solutions are accepting absorption in the minds of business leaders.

Shares of HCL Technologies were trading at Rs 397.60 on the BSE, up 1.81% from their antecedent close.