Global Finance Names Basware Best Electronic Invoice Presentment & Payment Services Provider For Third Consecutive Year
Basware's Innovative Solutions Provide Real-Time Visibility, Improve Management of Cash Flow, Spend, Buyer/Supplier Transactions
Basware, the global leader in purchase-to-pay solutions, recently announced that it has been named the best global provider of Electronic Invoice Presentment and Payment Services by Global Finance, a leading magazine on international financial markets. For the third consecutive year, the magazine recognized Basware's exclusive position in its ranking of the World's Best Treasury and Cash Management Banks and Providers 2012, which will be published in the March 2012 issue of the magazine.
Basware received this recognition for its innovative leadership in invoice automation, procurement, and connectivity solutions that improve supplier and buyer relationships and promote electronic document exchange around the world, through one of the world's largest open networks for e-invoice and purchase message transactions. The Basware Open Network allows suppliers to implement e-invoicing and connect to buyers without installing proprietary technology, which is typically required with traditional closed networks. By making it easier for suppliers to submit e-invoices and encouraging use of more electronic processes, Basware enables buyers and suppliers to drive down processing costs and improve control over cash flow, while increasing critical internal visibility between Procurement and Finance, and externally between buyers and suppliers.
"It's a great honor for Basware to be selected once again in Global Finance's annual ranking of the World's Best Treasury and Cash Management Providers," said Bob Cohen, Basware vice president, North America. "The award underscores our commitment to helping companies around the world gain critical real-time visibility and business benefits from more effectively managing their spend, cash flow, and supplier transactions and relationships."
"In the current volatile global economic environment, treasurers need the best tools and advice available to make capital work harder than ever," says 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."
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 around core service provision.
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. 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. For more information, visit www.gfmag.com.
About Basware
Basware is the global leader in purchase-to-pay solutions with more than 1,000,000 users in over 60 countries. The Open Network for e-invoice and purchase message transactions today connects companies globally. With Basware, an organization can reduce the cost of buying and paying for goods and services and gain visibility and control of its entire spending process by automating manual processes, from sourcing, contract management, purchasing and supplier collaboration to invoice automation. Basware solutions and services enable a company to improve its cash position, optimize working capital and maximize the agility of its finance operation across the purchase-to-pay cycle. 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. The company's U.S. business, Basware, Inc., is headquartered in Stamford, Conn. For more information, visit www.basware.com.
SOURCE: Basware, Inc.