Nordea to install ‘dynamic discounting’ solution
Written by Anthony Strzalek
Nordea Bank has entered into a strategic partnership with e-invoicing outfit Basware to deliver a new discounting solution to its corporate customers.
Nordea and Basware will jointly offer the dynamic discounting solution to Nordea’s corporate customers, while Basware will deliver the solution integrated into the customers’ Purchase-to-Pay or customer’s Enterprise Resource Planning solutions.
Patrik Zekkar, global head of trade and working capital management sales at Nordea, commented: “Managing working capital should be a clear priority for all organisations. Many businesses have a strong cash position, and effective cash management can help support business in achieving better profitability and working capital position.
“Regardless of what the objectives of the businesses are, with Basware we can now help businesses take advantage of their excess cash and gain a better return on invested capital. Dynamic discounting also supports the cash flow of the suppliers, and is in line with the corporate social responsibility initiatives.”
Vesa Tykkyläinen, CEO of Basware, added: “Nordea is a strategic partner for us as we further establish our financing services offering to businesses in the Nordic region. Through this partnership, Nordea can take advantage of our expertise in purchase-to-pay process, and build new exciting cloud-based value-added services into their trade financing portfolio.”