Basware named Best Provider of Working Capital Management Solutions and Accounts Payable by Global Finance

25 January 2016

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Ranking recognizes Basware for helping companies optimize cash, working capital through AP automation, Basware Network

STAMFORD, Conn., Jan. 25, 2016 – Basware, the leading provider of e-invoicing and purchase-to-pay solutions, today announced that it has been selected as the best provider of treasury management systems and services by Global Finance magazine within two key categories: Best Provider of AP Solutions, and Best Provider of Integrated Working Capital Management Solutions.  The full report of this survey will be published in the March 2016 issue of the magazine.
 
“We’re honored to once again be recognized by Global Finance for our leadership in delivering innovative solutions and financial services that not only empower the buyer supplier relationship, but that also help create a new era in B2B commerce,” said Bob Cohen, vice president, North America of Basware. “Through our AP solutions, as well as new financing services powered by the Basware Network, we’re enabling new opportunities for strategic invoice payment, as well as other financing options. This will help transform buyer-supplier commerce in the $100 trillion B2B trade market, and improve the financial health and cash flow of enterprises, small businesses and governments around the world.” 
 
Basware was recognized by Global Finance for its innovative leadership in cloud-based accounts payable, e-invoicing and financing solutions and services, including the following:
 
  • Basware Invoice Automation, the company’s flagship product, which expedites invoice processing and provides enhanced visibility and control of cash, spend and working capital.
  • Basware’s e-invoicing solutions, which enable companies to create, send, receive and archive invoices at a fraction of the time and cost of traditional methods. By conducting e-invoicing over the Basware Network - the largest open B2B network in the world that connects one million companies across 100 countries - buyers and suppliers can seamlessly collaborate. 
  • The company’s new Financing Service business offer multiple options for companies designing a payment strategy including: a global e-Payment solution (Basware Pay); dynamic discounting (Basware Discount) and an e-invoicing based, supplier driven, invoice financing service (Basware Advance). These options enable suppliers and buyers to boost their working capital and receive funding of their payables or receivables online, and payment within days, regardless of payment schedules.  
In selecting the best providers for its annual Best Treasury & Cash Management Providers ranking, Global Finance used a multi-tiered assessment process—which included a readers’ poll, input from industry analysts, corporate executives, technology experts and independent research. A variety of subjective and objective criteria were considered, including: profitability, market share and reach, customer service, competitive pricing, product innovation and the extent to which treasury and cash management providers have successfully differentiated themselves from their competitors around core service provision. 
 
“The World of Treasury and Cash Management is evolving. Big banks are focusing on core clients, and regional and domestic banks are building market share around that. Plus, nonbank providers continue to offer increasing competition in a range of product areas,” said Joseph D. Giarraputo, publisher and editorial director of Global Finance. “The winners of Global Finance’s Treasury & Cash Management Awards reflect that changing landscape. These providers work hard to offer their clients sophisticated, best-of-breed solutions.”
 
About Global Finance
Global Finance, founded in 1987, has a circulation of 50,050 and readers in 163 countries. Its circulation is audited by BPA. Global Finance’s audience includes chairmen, presidents, CEOs, CFOs, treasurers and other senior financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Global Finance also targets the 8,000 international portfolio investors responsible for more than 80% of all global assets under professional management. Its website - GFmag.com - offers analysis and articles that are the heritage of 27 years of experience in international financial markets, and provides a valuable source of data on 192 countries. Headquartered in New York, with offices in London and Milan.
 
About Basware
Basware is the global leader in providing purchase-to-pay and e-invoicing solutions in the world of commerce. We empower companies to unlock value across their financial operations by simplifying and streamlining key financial processes. We help our customers to succeed and create added value to their business through better financial management. Our Basware Network, the largest open business network in the world, connects 1 million companies across 100 countries and enables easy collaboration between buyers and suppliers of all sizes. Through this network, leading companies around the world achieve new levels of spend control, efficiency, and closer relations with their suppliers. With Basware, businesses can introduce completely new ways of buying and selling to achieve significant cost savings and boost their cash flow. The company’s U.S. business, Basware, Inc., is headquartered in Stamford, Conn.
 
Find out how Basware helps money move more easily and lets commerce flow at www.basware.com
 
 
 
COMPANY CONTACT:
Robert Cohen
Basware, Inc.
203-487-7905
 
MEDIA CONTACT:
Diane Pardes
Pardes Communications, LLC
781-652-8059
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