Basware Recognized for Promoting Electronic Document Exchange Worldwide, Improving Buyer/Supplier Relationships
STAMFORD, Conn. – Basware, the leading provider of e-invoicing and purchase-to-pay solutions, today announced that it has been named the best global provider of supplier support and enrollment services by Global Finance magazine in its fifth annual ranking for the World's Best Supply Chain Finance Providers, to be published in an exclusive survey in the July/August 2012 issue.
Basware was awarded this recognition because of its innovative leadership in invoice automation, procurement and global commerce connectivity solutions that improve supplier and buyer relationships and promote electronic document exchange around the world, through the world’s largest open network for e-invoice and purchase message transactions. Its innovative purchase-to-pay and e-invoicing services cut transaction and processing costs in half, while eliminating paper-based invoices and streamlining invoice processing.
"We’re honored to be among the leaders in Global Finance’s annual ranking of the best supply chain finance providers,” said Robert Cohen, vice president, North America for Basware. “The award recognizes our commitment to helping companies around the world easily conduct global commerce and gain real-time visibility and control of finances. By achieving financial operations excellence, companies can realize positive benefits across the extended supply chain, such as improving days payable outstanding (DPO) performance.
Basware’s innovative purchase-to-pay and e-invoicing solutions are based on years of technology expertise and incorporate the best practices of all of its customers. Its solutions and services enable companies to address issues, such as establishing financial practices to support global commerce and address multiple currencies and languages; managing and strengthening supplier relationships and reducing supplier risk; effectively managing spend, cash flow and working capital; complying with industry regulations worldwide; enforcing green policies and corporate values; and extracting key financial data from disparate ERPs and back-end systems.
Global Finance launched the awards in recognition of the growing significance of the supply chain and the various financing solutions that are emerging to enhance working capital and reduce DPO and DSO for buyers and suppliers. Global Finance selected winners across seven global and eight regional categories. With input from industry analysts, corporate executives and technology experts, it selected the best providers of supply chain financing and management services. Factors considered included: market share and global coverage, product innovation, customer service, technology, execution skills and client-specific implementations.
"The awards recognize those providers and customer implementations that deliver real cost savings, working capital benefits and efficiencies for buyers and suppliers as well as those firms that have developed innovative credit frameworks in order to extend financing deeper into the supply chain," said Joseph Giarraputo, publisher of Global Finance.
About Global Finance
Global Finance is a monthly magazine founded in 1987 by publishing entrepreneurs Joseph Giarraputo and Carl Burgen. Its mission is to help corporate leaders, bankers and investors chart the course of global business and finance. Its website, www.gfmag.com, offers analysis and articles that are the heritage of 22 years of experience in international financial markets, and provides a valuable source of data on 192 countries.