Global Finance Names Basware Best Treasury Management Systems & Services Provider for Accounts Payable

25 February 2014

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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 Treasury Management Systems and Services for Accounts Payable Services by Global Finance magazine, in its annual ranking of the World's Best Treasury and Cash Management Providers 2014. This marks the fifth year that Basware received an exclusive treasury management award from Global Finance. The ranking will be published in the March 2014 issue of the magazine.

Basware received this recognition for its innovative leadership in cloud-based accounts payable solutions and services, which enable companies to achieve greater visibility and control of cash, spend and working capital as well as significant efficiencies and cost savings. Basware’s  solutions also enable companies to achieve better buying, better selling and connected B2B commerce, while cutting transaction and processing costs in half or more, eliminating paper-based invoices and streamlining invoice processing. 

Global Finance’s annual ranking of the world’s best treasury and cash management providers offers companies a great source of information on the industry’s leading vendors in financial automation, and we are honored to once again be part of this list,” said Robert Cohen, vice president, North America for Basware. “Basware has a rich history of innovation, continuously working to provide companies with the financial visibility, control and cost effectiveness that is so critical for them. This award recognizes our commitment to helping companies establish strong corporate finance infrastructures that support global B2B commerce, and leverage the cloud, mobile and social technologies as well as analytics to achieve their goals.”

Basware Invoice Automation is the company’s flagship solution within the Accounts Payable Automation suite. It enables companies to automate the invoicing process, greatly reducing the time it takes to process an invoice, typically from many weeks to a matter of days. In addition, the Basware Network, which enables buyer and supplier collaboration through e-invoicing and e-ordering, is the largest open network of its type, connecting millions of business users in 900,000 companies across more than 100 countries.  This global network reduces the time it takes for companies to receive an invoice from approximately two weeks to immediately. 

Global Finance used a multi-tiered assessment process—which included a readers’ poll, input from industry analysts, corporate executives, technology experts and independent research—to select the best providers of treasury and cash management services. A variety of subjective and objective criteria were considered, including: 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 around core service provision.

“Awards submissions we received this year continued to reflect the changing global landscape for treasury and cash management services,” said Joseph D. Giarraputo, publisher and editorial director of Global Finance. “The winners in our annual Treasury & Cash Management awards are those that offer sophisticated regional and/or global solutions with a best-of-breed technology backbone and a client-centric front end.”

About Global Finance
Global Finance, founded in 1987, has a circulation of 50,050 and readers in 163 countries. Its circulation is audited by BPA. Global Finance’s audience includes chairmen, presidents, CEOs, CFOs, treasurers and other senior 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 27 years of experience in international financial markets, and provides a valuable source of data on 192 countries. It is headquartered in New York, with offices in London and Milan.

About Basware
Basware provides open, secure, cloud-based purchase-to-pay and e-invoicing solutions to organizations of all sizes, resulting in greater efficiencies in procurement, accounts payable and accounts receivable.

Companies across all industries, from small businesses to corporate giants, use Basware solutions to drive sustainable cost savings, proactive insight to cash flows and improved buyer–supplier relationships. The Basware Network is founded on the principles of openness, where all types of organizations can collaborate and trade, making it the largest in the world. Today we connect millions of business users in 900,000 companies across over 100 countries.

Basware is the global leader in providing solutions for better buying, better selling and connected commerce. Find out how Basware boosts financial performance and profitability at www.basware.com. The company’s U.S. business, Basware, Inc., is headquartered in Stamford, Conn.

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