Deployment of Basware Invoice Automation Solution Enabled Leading Pharmacy to Cut Costs and Drastically Increase Invoice Processing Efficiency
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 community pharmacy operator has been included among the 2013 Supply & Demand Chain Executive 100, an annual award from the leading supply chain publication, highlighting 100 great supply chain projects.
The company began working with Basware to help it improve the efficiency of its AP department and address a projected increase in the volume of invoices, to more than one million invoices per year, without adding additional resources. It also wanted to address the challenge of lost invoices, late-payment penalties and missed discount opportunities that accompanied manual processes. It implemented Basware Invoice Automation suite, as well as Basware services, such as Scan & Capture, and Supplier Activation program which encourages e-invoicing adoption by suppliers and enables the company to increase the volume of e-invoices received from suppliers.
Standardizing on Basware’s Invoice Automation technology, the community pharmacy operator was able to cut costs and drastically increase invoice processing efficiency, while ensuring process consistency. Additionally, Finance is now considered a key business enabler for the company, instead of a back-office function.
”We are honored to be recognized for our work in helping our customers acheive supply chain excellence,” 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 and adopt e-invoicing to increase productivity, visibility and accuracy across the financial supply chain.”
The 2013 Supply & Demand Chain Executive 100 features supply chain solution and service providers that are helping customers achieve supply chain excellence. These projects have produced measurable gains in ROI through cost-cutting and increased efficiency, whether in warehouse, transportation, procurement, sourcing or other categories in the end-to-end supply chain. Submissions were evaluated by the magazine’s editorial staff primarily based on scope of the project, creative application of technologies and extent of the business impact.
"This year's '100' recognizes the solutions and service providers that have assisted the supply chain function and helped their customers achieve supply chain excellence," said Barry Hochfelder, editor of Supply & Demand Chain Executive.
Basware, along with the other award recipients, will be featured in the June 2013 issue of Supply & Demand Chain Executive, which is available online at www.SDCExec.com/SDCE100.
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