Global Company Will Use Solutions to Increase Efficiency, Reduce Costs, Process Invoices from Mobile Devices
STAMFORD, Conn., Oct. 19, 2009 – Basware, Inc., a subsidiary of Finland-based Basware Corporation and the leading provider of purchase-to-pay solutions, today announced that its Invoice Automation solutions have been selected by Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets. The company will use Basware Invoice Processing and Basware Mobile Client to automate workflow, streamline accounts payable (AP) processes and enable executives to review and approve invoices while on the road. By implementing invoice automation, Flowserve will be able to gain efficiencies, reduce costs and benefit from accurate, timely processing of invoices.
Flowserve chose Basware primarily due to the ease of use of its solutions, the depth and breadth of its purchase-to-pay offerings, and its ability to connect with multiple ERPs. The global capabilities of Basware’s solutions and the company’s global presence were also important considerations.
“After a careful selection process, we selected Basware because it is a proven solution that delivers robust, easy-to-use capabilities,” said Dick Guiltinan, chief accounting officer, Flowserve. “With Basware’s Invoice Automation solutions, we can streamline the workflow, process invoices quickly, track invoices in the system, and reduce costs. The software provides us with the flexibility to review and approve invoices from office locations or on mobile devices while traveling.”
Flowserve will initially implement Basware’s solutions at its headquarters in Irving, Texas, and later, will look to roll them out to its offices nationally and abroad. Basware Invoice Automation solutions will replace Flowserve’s current invoice process and will provide electronic workflow, revisions, cost allocations and approval of invoices, as well as seamlessly integrate with the company’s ERP systems. The solutions provide a complete audit trail, visibility and versatile reporting capabilities. Flowserve will also use the Basware Mobile Client to expedite invoice approval by enabling executives to review and approve invoices from their mobile devices.
“In addition to the immediate efficiencies and cost savings that AP automation delivers, it also allows companies to manage finances more effectively,” said Ari Salonen, Basware’s general manager, North America. “Using Basware Invoice Automation, Flowserve will be able to track invoices, analyze and control spend, and manage cash flow. This will enable the company to realize additional benefits beyond the AP department.”
About Flowserve Corp.
Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 countries, the company produces engineered and industrial pumps, seals and valves, as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.
About Basware
Basware is the global leader in purchase-to-pay solutions with more than 1,500 customers and 850,000 users in over 50 countries around the world. With Basware, organizations can reduce the cost of buying and paying for goods and services and gain visibility and control of their entire spending process by automating manual processes, from sourcing, contract management, purchasing and supplier collaboration to invoice automation. Basware solutions and services enable substantial cost reductions across businesses and deliver value by providing compliance and control, as well as fast return on investment. The solutions are distributed and implemented, either on site or as a service, in Europe, the U.S., and Asia-Pacific through an extensive network of Basware offices and business partners. The company’s U.S. business, Basware, Inc., is headquartered in Stamford, Conn. More information can be found at www.basware.com/us.
# # # #
The Basware name is a registered trademark of Basware Corporation. The Basware logo is a trademark of Basware Corporation.
All other product and service names mentioned herein are trademarks of their respective companies.
COMPANY CONTACT:
Robert Cohen
Basware, Inc.
robert.cohen[at]basware.com
203-487-7905
MEDIA CONTACT:
Diane Pardes
Pardes Communications, Inc.
dpardes[at]pardescommunications.com
781-652-8059