Supply & Demand Chain Executive Names Basware Top 100 Software Provider

Basware’s Purchase-to-Pay Solutions Recognized for Role in Helping Companies Meet Post-Recessionary Supply Chain Growth

Basware, the global leader in purchase-to-pay solutions, today announced that it has been named one of the top supply chain providers in the ninth annual Supply & Demand Chain Executive 100, which appears in the May/June issue of the popular business-to-business magazine.  This year’s award program:  Back to Basics and Beyond - In Search of the Roots of Supply Chain Excellence, features the leading providers of solutions and services that are helping customers achieve supply chain excellence and preparing their supply chains for post-recessionary return to growth.  Basware received this recognition based on its advanced invoice processing, e-invoicing, connectivity and purchasing solutions, which have enabled leading companies around the world to cut costs, gain control and improve visibility over the purchase-to-pay process.

“We’re pleased to be recognized by Supply & Demand Chain Executive for our advanced purchase to pay solutions,” said Ari Salonen, General Manager, North America for Basware. “Through our solutions and focus on best practices, Basware has helped companies address pressing corporate finance concerns, such as managing cash flow, spend and working capital management; managing and strengthening supplier relationships; identifying  and reducing supplier risk early; and conducting sound global financial operations.  All these benefits truly position today’s cutting edge enterprises for the post-recession economy and enable them to take advantage of new growth opportunities.”

Basware’s innovative purchase-to-pay solutions are based on 20 years of technology expertise and incorporate the best practices of all of its customers.  Companies that use Basware solutions, such as Basware Invoice Automation, Basware Connectivity Services and Basware Purchase Management, achieve key business benefits, including the compliance, visibility and control they need to effectively manage their spend, cash flow and working capital.

Basware is an innovator in enabling companies to develop closer interoperation with suppliers.  By developing scalable and open supply and payment networks, and the industry’s most comprehensive supplier activation program through Basware Connectivity Services, Basware is making it easier for suppliers to electronically share key financial information with buyers in real-time.  The open network supported millions of global transactions in 2009. Using Basware Connectivity services, companies gain visibility to an audit trail from order to goods delivery and invoice. The services generate savings in time and resources, and increase accuracy in order-based deliveries and data quality of invoices.  With reduced invoice processing times, buyers are able to negotiate cash discounts, prevent late payment fees and improve working capital management.

“The 2010 Supply & Demand Chain Executive 100 includes supply chain solution and service providers that are helping their customers and clients achieve supply chain excellence and preparing their supply chains for post-recessionary return to growth,” said Andrew K. Reese, editor of Supply & Demand Chain Executive.  “This year’s ‘100’ highlights a broad range of solutions and services targeted at a variety of industries, addressing the needs of companies of varying sizes, and assisting in the transformation of the diverse mix of the functions that make up the supply chain.”

Each year, Supply & Demand Chain Executive publishes the Top 100 to make its readers aware of those enablers that are leading the way in providing cutting-edge solutions and services to help enterprises improve their supply chains through the application of new technologies and new services.  This year’s Top 100 is based on submissions from end-users and solution providers. The judging committee for the top 100, including the editorial staff of the magazine, in conjunction with the editorial advisory board, compiled a list of people, process, technology and partnering strategies that supply chain executives can leverage today to meet the requirements of the current economy and attain supply chain excellence in the rebound from the recent downturn.  Basware and other final recipients will be featured in the cover story of the May/June 2010 issue of Supply & Demand Chain Executive, as well as online at www.SDCExec.com.

About Supply & Demand Chain Executive
Supply & Demand Chain Executive is the executive's user manual for successful supply and demand chain transformation, utilizing hard-hitting analysis, viewpoints and unbiased case studies to steer executives and supply management professionals through the complicated, yet critical, world of supply and demand chain enablement to gain competitive advantage.  On the Web at www.SDCExec.com.

About Basware
Basware is the global leader in purchase-to-pay solutions with more than 1,500 customers and 1,000,000 users in over 50 countries around the world. With Basware, organizations can reduce the cost of buying and paying for goods and services and gain visibility and control of their entire spending process by automating manual processes, from sourcing, contract management, purchasing and supplier collaboration to invoice automation.  Basware solutions and services enable substantial cost reductions across businesses and deliver value by providing compliance and control, as well as fast return on investment. The solutions are distributed and implemented, either on site or as a service, in Europe, the U.S., and Asia-Pacific through an extensive network of Basware offices and business partners. More information can be found at www.basware.com.