STAMFORD, Conn., – Basware, the leading provider of e-invoicing and purchase-to-pay solutions, today announced that it has been named the best provider of Electronic Invoice Presentment and Payment Services by Global Finance magazine. For the fourth consecutive year, the magazine recognized Basware’s exclusive position in its annual ranking for the World's Best Treasury and Cash Management Providers 2013, to be published in an exclusive survey in the March 2013 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 world’s best treasury and cash management 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 addressing 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 editors, with input from industry analysts, corporate executives and technology experts, selected the best providers of treasury and cash management services. A variety of subjective and objective criteria were used for choosing the winners. Factors considered include: 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. In addition, for the first time, a poll of Global Finance’s corporate readership was conducted in order to increase the accuracy and reliability of the results.
“In the current volatile global economic environment, treasurers need the best tools and advice available to make capital work harder than ever,” said Global Finance publisher Joseph D. Giarraputo. “Our awards identify the banks and providers of products and services that consistently improve transaction processes to speed collections, cut costs and reduce risks.”
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 web site, 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.