e-Procurement Solutions Help Healthcare Provider Automate Key Purchasing and Invoicing Processes
STAMFORD, Conn., July 18, 2016 – Basware, the global leader in networked purchase-to-pay (P2P) solutions, e-invoicing and innovative financing services, today announced that a leading Utah-based healthcare organization, Revere Health, is implementing Basware’s (formerly known as Verian) purchase-to-pay solutions to automate purchasing, invoicing and budget tracking activities, replacing manual processes with advanced cloud-based solutions.
“As one of only two Accountable Care Organizations (ACOs) in Utah, and with many practices under our organization, it’s essential that we automate our core purchase-to-pay processes enterprise-wide,” said Mark Romney, Revere Health Supply Chain Manager. “We’re confident that with Basware’s extensive experience and innovative solutions we will capture cost savings while streamlining our purchasing and accounting processes, making them much more efficient.”
With family practices and 29 medical specialties located throughout Utah, Revere Health is leveraging the Basware solutions to track project-based buying and monitor spend against budgets in real-time. It also is significantly speeding up approval and payment processes with insight into accounts payable workflows, while reducing risk by implementing centrally managed order requests, purchase orders, receipts, invoices and payments.
Key Basware solutions implemented by Revere Health, include:
- Purchase Manager – Automates the entire purchasing process, from requisition to approvals to POs
- Invoice Manager – Streamlines the accounts payable process by automating invoice data capture, cost coding, approvals, reconciliation, and invoice image storage
- Budget Manager - Manages budgets in real time by tracking all purchases and requests against budgets
- Supplier Portal – Enables greater supplier collaboration, allowing suppliers to maintain catalogs and check invoice status
- Spend Manager – For Reporting and KPIs, provides complete visibility from high-level trends to detailed transactions
“Now more than ever, healthcare providers are seeking ways to enhance patient care and reduce costs,” said Tehseen Dahya, general manager, North America, Basware. “We’re happy to partner with Revere Health to help it implement our e-procurement solutions and easily procure, store, maintain, and pay for all the products, services and equipment it needs to continue to provide the quality care its customers have grown accustomed to.”
About Revere Health
Revere Health is the largest independent multi-specialty physician group in Utah. Its integrated system gives patients the best in quality, communication, coordination and innovation. Founded in 1960 in Provo, Revere Health has grown to include over 100 locations and suites in 40 cities throughout Utah, Arizona and Nevada. Its family practices and 29 medical specialties allow it to offer complete healthcare at any stage of life. As one of two Accountable Care Organizations accredited by Medicare in Utah, Revere Health offers a unique, patient-oriented approach to healthcare.
Basware is the global leader in providing networked purchase-to-pay solutions, e-invoicing and innovative financing services. Basware’s commerce and financing network connects businesses in more than 100 countries and territories around the globe. As the largest open business network in the world, Basware provides scale and reach for organizations of all sizes, enabling them to grow their business and unlock value across their operations by simplifying and streamlining financial processes. Small and large companies around the world achieve significant cost savings, more flexible payment terms, greater efficiencies and closer relationships with their suppliers. The company’s North American business, Basware, Inc., is headquartered in Stamford, Conn. Find out more at www.basware.com.
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