STAMFORD, Conn.–Basware, the leading provider of e-invoicing and purchase-to-pay solutions, today announced that a customer implementation of its Invoice Automation solution at a major global company that provides temporary power and equipment rentals has been included among the Supply & Demand Chain Executive 100, an annual award from the leading supply chain publication, highlighting 100 great supply chain projects.
By standardizing on Basware’s Accounts Payable (AP) technology, the Basware customer was able to centralize its AP information, reduce operating costs, realize accurate and timely month-end reporting and ensure consistency across each business unit around the world.
Prior to working with Basware, the company was manually processing almost 100,000 invoices from 9,000 suppliers in Europe alone. It needed to automate its invoice processing to address poor visibility, inefficiencies, delays, errors and other problems with paper-based invoices. The lack of visibility exposed it to unrecorded liabilities as well as non-payment, late payment and in some cases, double payment of invoices. Basware’s Invoice Automation solution instantly reduced the number of exceptions, duplicates and lost invoices since it automatically matched invoices to POs and provided a complete audit trail.
”We are honored to be recognized for our work in helping to transform the financial supply chain,” said Robert Cohen, vice president, North America for Basware. “We’re committed to working closely with all of our customers to help them automate core financial processes across offices and suppliers around the world, to increase productivity, visibility and accuracy.”
Launched 11 years ago, Supply & Demand Chain Executive announced its first "100" list of supply chain solution providers, consultants and other organizations that were helping lead the way in transforming companies' supply and demand chains. This year, the magazine focused the criteria for its "100" feature on supply chain transformation projects that have had a significant impact on the companies going through the implementations.
"Our goal with this year's '100' is to put the spotlight on successful and innovative transformation projects that are delivering bottom-line value to small, medium and large enterprises across the different functions that comprise the supply chain," said Barry Hochfelder, editor of Supply & Demand Chain Executive. "The projects featured in the '100' article can serve as a roadmap for supply chain executives looking for new opportunities to drive improvement in their own operations."
Basware, along with the other award recipients, will be featured in the June 2012 issue of Supply & Demand Chain Executive, available immediately online here.
About Supply & Demand Chain Executive
Supply & Demand Chain Executive is the executive's user manual for successful supply and demand chain transformation, utilizing hard-hitting analysis, viewpoints and unbiased case studies to steer executives and supply management professionals through the complicated, yet critical, world of supply and demand chain enablement to gain competitive advantage. Visit Supply & Demand Chain Executive on the Web at www.SDCExec.com.