HCL expands into P2P

NOIDA, INDIA: HCL Technologies Ltd announced its strategic partnership with Basware, a provider of purchase-to-pay solutions.

HCL will leverage Basware’s industry leading Invoice Automation, Travel & Expense, Procurement and Connectivity solutions to deliver customers with process enhancements and increased cost reductions.

With the Basware P2P model, HCL will help customers align their procurement and finance organizations as well as ensure effective networking of P2P processes with the supply base.

“Customers are fast realizing that automating their purchase-to-pay processes is an important way to drive significant cost reductions and improve productivity. Our partnership with Basware completes HCL’s F&A BPO strategy to provide end-to-end finance & accounting services across the purchase-to-pay (P2P) landscape. This partnership with Basware powers HCL’s P2P services by providing customers with a strong technology platform, and the ease to shift to e-invoicing while benefiting from process efficiencies and cost reductions,” said Randy Mueller, Vice President — Finance & Accounting, Business Services, HCL Technologies Ltd.

According to the Forrester report, “Predictions 2011: e-Purchasing Market To Grow 12 per cent”, the e-Purchasing market is predicted to see an increase in 2011, taking the total to over $4.4 billion, indicating the rise of P2P in the minds of business leaders. Forrester Research also notes the growth of non-ERP providers in the P2P space, with offerings such as Basware’s P2P solutions taking market share over the more generalist ERP players and that investment in P2P technologies is set to deepen in 2011.