Basware selected for Best Web-Based Supply Chain Financing Solution by Global Finance

28 January 2016

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Company recognized for its portfolio of supply chain financing services, open B2B network

STAMFORD, Conn., Jan. 28, 2016 Basware, the leading provider of e-invoicing and purchase-to-pay solutions, today announced that it has been recognized for offering the best web-based supply chain financing solution by Global Finance magazine in its ninth annual ranking of the World’s Best Supplier Finance Providers. The company was noted for its Basware Financing Services business, which enables companies of all sizes to conduct just-in-time financing and take control of their payment terms.  Basware Financing Services are powered by the Basware Network, the largest open B2B network in the world, enabling buyers and suppliers to seamlessly collaborate.

“We are proud to be selected as the best in the financing solutions field by Global Finance,” said Ad van der Poel, Basware’s senior vice president, Financing Services. “Last year, we established the Financing Services business to address the needs of companies – both big and small – for improved cash flow and working capital management. We have introduced three services to the market since that time, offering a range of easy and flexible financing services to address these needs.”

The Basware Financing Services division enables companies and their suppliers to optimize cash and working capital through digital participation in the Basware Network.  Through Basware’s Financing Services, companies on the Basware Network have multiple options to choose from when 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).

Global Finance’s editorial review board—with input from industry analysts, corporate executives and technology experts—selected the best providers of supply chain financing and management services. A variety of subjective and objective criteria were used for choosing the winners. Factors considered included: market share and global coverage, product innovation, customer service, technology, execution skills and client-specific implementations.

“Supplier finance providers and the corporates who use their services are trying to understand how big developments on the economic, regulatory and policy fronts will affect their business,” said Joseph D. Giarraputo, publisher and editorial director of Global Finance. “Corporates need supplier finance partners who can help them adjust nimbly to those changes. With these awards, we aim to identify those partners.”

The rankings for the ninth annual World’s Best Supplier Finance Providers will be published in an exclusive survey in the February 2016 issue of Global Finance.

Joseph Giarraputo, publisher of Global Finance Magazine and Nicolas Gudin du Pavillon who heads Basware France at the award luncheon in Paris on January 20, 2016.

About Global Finance

Global Finance, founded in 1987, has a circulation of 50,050 and readers in 180 countries. Global Finance’s audience includes senior corporate and 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 29 years of experience in international financial markets. Global Finance is headquartered in New York, with offices around the world. Global Finance regularly selects the top performers among banks and other providers of financial services. These awards have become a trusted standard of excellence for the global financial community.

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.

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COMPANY CONTACT:
Robert Cohen
Basware, Inc.
203-487-7905
 
MEDIA CONTACT:
Diane Pardes
Pardes Communications, LLC
781-652-8059
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