Basware offers new functionality for framework contracts

Basware comes with new functionality for framework agreements, also known as blanket orders in English. With this enhancement to Basware Purchase, companies can manage their spend even better and achieve an even higher level of automation.

A framework contract is an agreement between a supplier and an organization to provide a certain quantity of goods or services at a predetermined price for a specified period of time. This is therefore subject to a maximum amount, which may not be exceeded. This is common when hiring services, such as maintenance or consulting.

End of workaround partial invoices

The total amount of a framework contract is usually invoiced in parts. Previously, a purchase order had to be created in Basware for each partial invoice in order to automatically match the partial invoices. Another way to match these partial invoices was to do some math on the number. For example, if a company hires a consultant for $5,000, the buyer sets the number to 1 because it is 1 consultant. Then, if the consultant in question then sends an invoice for 1,000 euros, until recently the number had to be set to 0.2. These workarounds are no longer necessary.

The new blanket order functionality in Basware Purchase allows users to work with amounts rather than numbers, so that the €1000 in the example with the same purchase order can automatically be matched with the €5000 framework contract and the residual amount. Not only is this much easier to do, but it also gives Basware customers even more control and visibility into their indirect spend.