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New Basware Report Reveals Importance of Finance & Procurement Collaboration, Highlights Continued Lagging Digital Maturity of Accounts Payable Departments
Only 3% of Respondents Say Invoices are Submitted in a Format that
can be Processed without Human Interaction
ESPOO, Finland–(BUSINESS WIRE)–A new report from Basware
(Nasdaq: BAS1V), the global leader in networked source-to-pay
solutions, e-invoicing and innovative financing services, highlights how
critical it is for finance and procurement teams to create a living,
breathing ecosystem that thrives together to achieve a state of
Fintopia. “The State of AP Efficiency in the U.S.” report utilizes data
survey responses from more than 180 accounts payable professionals to
determine where they were in terms of digital maturity — climbers,
drivers, or trailblazers — finding few in the trailblazers category.
“The biggest takeaway from this survey is that finance isn’t solely
responsible for achieving the perfect world of Fintopia,” states Sami
Peltonen, VP, Product and Business Management North America for Basware.
“We describe Fintopia as a state where all data and reporting is
dynamic; departments have control over cash flow; transactions are
smooth; and processes are seamless. Businesses must start realizing how
intertwined the finance and procurement functions truly are and function
as one ecosystem. Otherwise, they won’t ever reach their full potential
of Fintopia.”
In the report, climbers are defined as those who are currently
behind in the transition to digital but who, with concerted effort,
still have an opportunity to catch up. Drivers are those who
could go either way (leap ahead or fall behind), but who are currently
keeping pace with the average players. Trailblazers are on the
cutting edge, paving the way to a digitized state — Fintopia.
Trailblazers see the finance world in a new, harmonious way where
processes flow smoothly and quickly, and financial data is actionable.
The report also illustrates the digital immaturity of many accounts
payable departments. For example, surprisingly, one-third of finance
professionals are still using a completely manual, paper-based process.
Only 3% of respondents say invoices are submitted in a format that can
be processed without human interaction. So, based on the data, Basware
summarized six key opportunities to achieve Fintopia, and ultimately
become a trailblazer, which are detailed in the report.
-
Implement an accounts payable process that your team members will call
“outstanding.” - Automate e-invoice processing.
- Bring invoice processing speeds into the digital age.
- Reduce risk with automated data capture.
- Get mobile ready.
- Optimize your collaboration efforts. of companies say their accounts
The report will be introduced during a
panel discussion with Sami Peltonen, Brendan Blok, Senior Global
Business Advisor, Tommy Benston, Vice President of Client Success, and
Lindsay Munn, Head of Global Content Strategy, at the upcoming Institute
of Finance & Management’s AP P2P Spring Conference starting on May 19.
The report is available for download on Basware’s Fintopia
website.
About Basware
Basware offers the largest open business network in the world and is the
global leader in providing networked purchase-to-pay solutions,
e-invoicing and innovative financing services. Our technology empowers
organizations with 100% spend visibility by enabling the capture of all
financial data across procurement, finance, accounts payable and
accounts receivable functions. Basware is a global company doing
business in more than 100 countries and is traded on the Helsinki
exchange (BAS1V: HE).
Follow Basware on Twitter: @Basware,
join the discussion on the Basware
LinkedIn, Basware Facebook and Basware
Blog.
More information about Basware is available at www.basware.com.
Contacts
Jeanne Bernish
[email protected]
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Cannabis
Sannabis, Inc. (OTC: USPS) Announces First Shipment of Cannabis Essential Oil from Colombia to U.S. to Fill First Order, as the DEA Re-Classifies Marijuana from Schedule I to Schedule III
Humboldt
Humboldt Seed Company partners with Apollo Green to bring California cannabis genetics to the global marketplace
Apollo Green to distribute Humboldt Seed Company clonal cannabis genetics to Germany, Portugal and Australia
SAN FRANCISCO, April 30, 2024 /PRNewswire/ — Humboldt Seed Company (HSC), California’s leading cannabis seed producer, has announced a partnership with Canadian-based Apollo Green to make eight breeder cuts available to researchers, licensed commercial cultivators and home growers in legal markets worldwide. This first-to-market clonal genetics release is a significant milestone and will expand access to distinctive, high-quality cannabis genetics in both established and emerging global markets including Germany, Portugal and Australia.
The curated, breeder-verified selection includes pioneering triploid genetics, such as OG Triploid and Donutz Triploid alongside the legendary cult classic Blueberry Muffin. Also available are All Gas OG with a THC content of 21% and four high-THC strains in the 30-35% range: Golden Sands, Guzzlerz, Jelly Donutz and Orange Creampop. These selections represent the top .01% from HSC’s extensive California pheno-hunting program.
Exports will begin in May under Apollo Green’s Canadian federal cannabis license. All shipments have Canadian phytosanitary certification, ensuring plants have been inspected, and are clean and free of pests.
“Access for all to quality genetics has been our core focus since the beginning,” said HSC Co-founder and Chief Science Officer, Benjamin Lind. “Our science-based approach to breeding aligns perfectly with Apollo Green’s high standards and we are excited to be able to extend these hand-selected cuts to a wider audience, especially at this pivotal time where we’re seeing positive regulatory changes globally.”
Oisin Tierney, Apollo Green Director of Business Development, said, “California has long been recognized for setting industry standards, and we are proud to play a role in bringing these esteemed genetics to cultivators worldwide. The triploids are especially noteworthy in terms of the unprecedented potential for enhanced plant vigor, higher yields, shorter flowering times and superior returns for solventless extraction.”
About Humboldt Seed Company
Established in 2001, Humboldt Seed Company is a Northern California heritage brand providing quality cannabis genetics to commercial cultivators and home growers in legalized states across the U.S. and international markets including Spain, Canada, Jamaica, South Africa, Colombia, France, Portugal, Greece, the UK, Malta and Thailand. With a focus on environmental and social justice, they combine traditional breeding and modern scientific practices in their strain development program. They have served the cannabis community for over two decades.
For more information visit https://humboldtseedcompany.com/.
About Apollo Green
Licensed since 2019, Apollo Green is Canada’s leader in cannabis genetics. The company’s mission is to provide an ever-growing bank of seeds and clones to medical patients and recreational consumers. Apollo Green provides clean, trusted cannabis seeds and clones, which are backed by the foremost tissue culture technology to reduce risks, costs and time-to-market for licensed producers around the world. Apollo Green is passionate about cannabis genetics.
For more information visit https://apollogreen.com/.
Media contact
Jaana Prall
[email protected]
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