Basware Recognized for Helping Companies Eliminate Paper through e-invoicing and Invoice Automation
STAMFORD, Conn. – Basware, the leading provider of e-invoicing and purchase-to-pay solutions, today announced that it has received a Green Supply Chain award from Supply & Demand Chain Executive magazine for the third consecutive year. The award recognizes Basware’s industry leadership in helping companies reduce paper through e-invoicing and purchase-to-pay automation. In addition to enabling sustainability, Basware’s solutions and services help companies gain critical visibility and control over finance, reduce costs and improve productivity.
Basware is helping companies reduce paper invoices and embrace e-invoicing through its global Open Network, the world’s largest open, format-independent network, which allows buyers and suppliers to exchange critical trading information regardless of their existing technology investments. The Basware Open Network promotes connectivity between buyers and suppliers, enabling companies to switch to e-invoicing and bypass the vast amounts of paper invoicing that they generate each year, while helping them achieve their Corporate Social Responsibility (CSR) or green targets. The Open Network, which connects buyers and suppliers by forming interoperability agreements with local and global e-invoicing partners, reduces the need to print, post, process, manually key-in, store and dispose of paper invoices.
“Invoices are a major contributor to the paper overload in organizations today,” said Bob Cohen, VP, Basware North America. “We’re committed to helping them not only eliminate paper and achieve their sustainability goals, but at the same time, gain key business benefits through improved productivity, reduced costs and increased visibility and control over their finances.”
“Leading companies recognize that initiating sustainable practices in their supply chain processes is key towards driving their competitive edge in today’s recovering economy,” said Barry Hochfelder, Editor, Supply & Demand Chain Executive. “This has been increasingly evident over the past few years and is relatively clear with the increased number of entries we received this year for our annual green awards. The increased adoption of green best practices and strategies will only continue to grow.”
Basware conducted a study that found that 30 billion invoices were sent across Europe alone. Since a typical invoice is approximately three pages long, 90 billion pieces of paper were printed out, posted and flown across Europe in just one year. If all of those invoices were sent electronically, 12.6 million trees, 105 billion pieces of paper, 13 billion liters of water and 5.4 billion kWh of power could be saved each year on just the paper manufacturing alone. This is the equivalent of powering 15.8 million 40W lamps, constantly, for 24 hours of the day for an entire year.
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Basware is the global leader in cloud based e-invoicing and purchase-to-pay solutions with more than 1,000,000 users in over 60 countries. Basware’s B2B Cloud solutions and services provide an open, secure and global ecosystem for buyer and supplier collaboration, connecting more than 1.9 million buyers and suppliers globally. The solutions are architected to meet the needs of SMEs and global enterprises and are built upon Basware’s deep knowledge and experience of B2B financial processes, coupled with intelligent cloud connectivity and the Open Network. With Basware, organizations benefit from more efficient procurement, accounts payable and accounts receivable processes, sustainable cost savings, better insight to cash flows and improved buyer-supplier relationships. The solutions are available via the cloud, on-premise or through business process outsourcing in Europe, the US, 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.