Captiva and BasWare Partner to Automate Accounts Payable Processes; Captiva's InputAccel for Invoices to Transfer Captured Image
Captiva Software Corporation (NASDAQ:CPTV), a leading provider of input management solutions, today announced a new cooperative marketing alliance with BasWare Corporation (HEX:BAS), a leading provider of financial automation software. Through the alliance, Captiva and BasWare will collaborate on accounts payable (A/P) and invoice process automation opportunities.
The partnership will include the integration of Captiva's InputAccel for Invoices(TM) automated invoice capture solution with BasWare's Enterprise Purchase to Pay solution. The integration will allow for the seamless transfer of captured images and data from InputAccel for Invoices into BasWare's invoice processing systems for advanced matching, approval routing and ERP connectivity. Customers will benefit by having a complete, end-to-end solution able to rapidly capture supplier invoices, process them for payment more quickly and accurately and reduce costs and manual processes.
"A robust invoice capture system is a crucial component of a successful automated accounts payable application, and we look forward to leveraging the capabilities of InputAccel for Invoices for our customers," said Mike Cichy, Director of BasWare's Channel Operations. "Partnering with Captiva enables our customers and prospects to benefit from an advanced invoice capture solution that complements our leading financial automation software."
InputAccel for Invoices is a fully customizable invoice capture solution that dramatically reduces the amount of manual intervention typically required to process invoices. It transforms a paper invoice into a digital image from which invoice data is automatically extracted, validated and delivered into enterprise content management (ECM), enterprise resource planning (ERP), accounts payable (AP) and other back-end systems.
BasWare's Enterprise Purchase to Pay is a suite of off-the-shelf invoice automation and procurement solutions that work together to meet an organization's specific requirements. Instead of non-integrated point solutions for scanning, invoice processing and purchasing, BasWare clients benefit from a total, unified solution that is integrated with over 115 ERP, accounting and financial systems.
"We're pleased to bring best-practice input management functionality to BasWare's Enterprise Purchase to Pay product suite. Together, our solutions provide users the benefits of streamlining accounts payable processes, and being able to share such information with whoever needs it," said Wayne Ford, Captiva's Vice President of Strategic Alliances and Channel Development. "We look forward to collaborating on joint sales opportunities with BasWare, which is widely respected around the world for its financial process automation solutions, its broad array of technology partnerships and its integration with leading ERP vendors."
Together, BasWare's and Captiva's solutions will enable users to streamline and accelerate the processing of invoices, take advantage of early payment discounts, eliminate late payments, reduce errors, increase financial reporting accuracy and re-deploy A/P staff to other functions.
About BasWare
BasWare Corporation (HEX:BAS) is the global leader in Enterprise Purchase to Pay and financial management solutions. More than 350,000 end-users in over 20 countries use its software to automate back-office financial operations to enhance efficiency, gain process control and transparency and meet compliance requirements. BasWare's net sales in 2004 were $42 million and the company currently has almost 400 employees. Headquartered in Helsinki, Finland, BasWare has subsidiaries located in Sweden, Denmark, Norway, Germany, the Netherlands, the United Kingdom, France and the US. For more information, visit www.basware.com.
About Captiva
Captiva Software Corporation (NASDAQ:CPTV) is a leading provider of input management solutions. Since 1989, the company's award-winning products have been used to manage business critical information from paper, faxed and electronic forms, documents and transactions into the enterprise in a more accurate, timely and cost-effective manner. These products automate the processing of billions of forms, documents and transactions annually, converting their contents into information that is usable in database, document, content and other information management systems. Captiva's technology serves thousands of users in insurance, financial services, government, business process outsourcing, manufacturing and other markets. For more information, visit www.captivasoftware.com.