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HCL Tech in strategic pact with US-based Basware
HCL Tech has entered into a strategic partnership with Basware, a provider of purchase-topay
solutions. Under the agreement, HCL Tech will leverage Basware's industry leading
invoice automation, travel and expense, procurement and connectivity solutions to deliver
customers with process enhancements and increased cost reductions. With the Basware
P2P model, HCL Tech will help customers align their procurement and finance
organizations as well as ensure effective networking of P2P processes with the supply base.
The Basware partnership will strengthen HCL Tech’s P2P solution to enable customers to
substantially reduce invoice processing time and maximize straight-through processing with
minimal manual intervention. HCL Tech’s P2P solution will provide significant
improvements to working capital requirements by improving days payable outstanding,
eliminating duplicate payments, avoiding interest charges on late payments, and taking
advantage of early payment discounts offered by suppliers. Additionally, the flexibility of
the Basware solution to support 19 languages and adapt to local variations of customers’
accounts payable process and regulatory environment will enable HCL Tech to implement
the solution in multiple geographies. We maintain Buy rating on HCL Tech with a target
price of `578.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
HCL Tech in strategic pact with US-based Basware
HCL Tech has entered into a strategic partnership with Basware, a provider of purchase-topay
solutions. Under the agreement, HCL Tech will leverage Basware's industry leading
invoice automation, travel and expense, procurement and connectivity solutions to deliver
customers with process enhancements and increased cost reductions. With the Basware
P2P model, HCL Tech will help customers align their procurement and finance
organizations as well as ensure effective networking of P2P processes with the supply base.
The Basware partnership will strengthen HCL Tech’s P2P solution to enable customers to
substantially reduce invoice processing time and maximize straight-through processing with
minimal manual intervention. HCL Tech’s P2P solution will provide significant
improvements to working capital requirements by improving days payable outstanding,
eliminating duplicate payments, avoiding interest charges on late payments, and taking
advantage of early payment discounts offered by suppliers. Additionally, the flexibility of
the Basware solution to support 19 languages and adapt to local variations of customers’
accounts payable process and regulatory environment will enable HCL Tech to implement
the solution in multiple geographies. We maintain Buy rating on HCL Tech with a target
price of `578.
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