Basware, the global leader in purchase-to-pay solutions, today announced that it has been named the best global provider of Electronic Invoice Presentation and Payment solutions by Global Finance, a leading magazine on international financial markets. For the second consecutive year, the magazine recognized Basware’s exclusive position in its ranking of the World’s Best Treasury and Cash Management Banks and Providers, which will be published in the March 2011 issue of the magazine.
Basware was awarded this recognition because of its innovative leadership in invoice automation, procurement and global commerce 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. Its innovative Connectivity Services cut transaction and processing costs in half, while eliminating paper-based invoices and streamlining invoice processing. Basware has also expanded its offerings to reach the small-to-medium-sized businesses, in addition to its traditional enterprise customers.
We’re honored to be included again this year in Global Finance’s annual ranking of the best treasury and cash management providers,” said Ari Salonen, Basware’s general manager, North America. “The award recognizes our commitment to helping companies around the world achieve improved global commerce and gain real-time visibility and control of finances.”
Basware’s innovative purchase-to-pay solutions are based on more than 20 years of technology expertise and incorporate the best practices of all of its customers. Its products enable companies to address issues, such as establishing financial practices to support global commerce and address multiple currencies and languages; managing and strengthening supplier relationships and reducing supplier risk; effectively managing spend, cash flow and working capital; complying with industry regulations worldwide; enforcing green policies and corporate values; and extracting key financial data from disparate ERPs and back-end systems.
“In recognition of the growing role of treasury technology providers, both bank and non-bank, we have selected Best Treasury Management Systems & Services providers across 12 categories,” said Global Finance publisher Joseph D. Giarraputo. “In today’s competitive global economic environment, treasurers need the best tools and advice available to make capital work harder than ever. Our awards identify the banks and providers of products and services that consistently improve transaction processes to speed collections 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 included: profitability, market share and reach, customer service, competitive pricing, product innovation and the extent to which treasury and cash management banks have successfully differentiated themselves from their competitors around core treasury and cash management service provision.
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