Basware amongst world's Top 100 vendors

August 14, 2008  |  Uncategorized

Magazine Credits Basware’s Advanced Enterprise Purchase-to-Pay Solutions for Helping to Drive Supply Chain Innovation.

Basware, the leading provider of financial process automation software, announced today that it has been awarded inclusion in the seventh annual Supply & Demand Chain Executive 100, which appears in the August 2008 issue of the popular business magazine and features the top providers of supply chain services and technologies who are leading the next wave in supply chain software, solutions and services. Basware was awarded this status based on its advanced eProcurement solutions, which have enabled leading companies around the world to employ best practices in their Enterprise Purchase to Pay functions.

This year the magazine focused the criteria for its “100” feature on the next wave innovations in the supply chain and the companies that are helping to drive the next wave  by providing their customers with unique software, solutions and services that address customers’ primary current and future supply chain challenges.

Each year Supply & Demand Chain Executive issues its Top 100 feature to make its readers aware of those enablers that are leading the way in providing cutting-edge solutions and services to help enterprises address pain points in their supply chains through the application of new technologies and new processes.

“Today, it’s more important than ever for companies to be aware of how they’re spending their money,” said Robert Cohen, marketing director, Basware, Inc.  “A major supply chain challenge of today’s enterprises is finding ways to gain this visibility and effectively manage spend.  In order to cut costs and be fiscally sound, companies must ensure that their Purchase to Pay operations – from procurement to accounts payable – are strategic and aligned with business goals.  We’re honored to be included among the world’s leading innovators in supply chain solutions by being a part of Supply & Demand Chain Executive’s 2008 Top 100 listing.”

Supply & Demand Chain Executive identified leading providers of supply chain services and technologies who are at the forefront of innovation. Based on submissions to the top 100 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, has compiled a list of leading supply and demand chain innovators. Final recipients are featured in the cover story of the August 2008 issue of Supply & Demand Chain Executive, as well as online at

Basware helps companies tackle some of the most pressing issues in corporate finance today, including real-time visibility and control of finances; global accounting practices that address multiple currencies and languages; compliance with Sarbanes-Oxley (SOX), Basel II and other U.S. and European regulations; and the need to extract key financial data from disparate ERPs and back-end systems.  The company offers robust out-of-the-box solutions to automate key financial processes within large organizations.  Basware’s technology automates the entire Purchase to Pay process, enabling companies to operate more cost-effectively and efficiently, while giving them greater control and flexibility.

Basware’s easy-to-use technology is transforming the financial value chain.  Its built-in business rules encourage widespread user adoption and results in visibility throughout Purchase to Pay.  Also as more transactions are automated, Basware gives accounts payable professionals the bandwidth to focus on more strategic issues, such as ensuring that purchasing decisions align with business goals, selecting suppliers who meet their organizations’ commitment to green issues and other corporate citizenship values; identifying and selecting the best vendors based on value, as well as cost; truly capturing volume discounts; focusing on spend management; and helping to prevent fraud.

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. It is available on the Web at

About Basware
Basware is the global leader in Purchase to Pay solutions with more than 1,200 customers and 650,000 users in over 50 countries around the world. Basware solutions automate business-critical financial processes and deliver value by providing compliance and control, as well as fast return on investment. The solutions are distributed and implemented in Europe, the U.S., and Asia-Pacific through an extensive network of Basware offices and business partners.

In 2007, net sales reached more than EUR 73 million. The growth target for net sales for 2008 is 15–25%. Founded in 1985, Basware Corporation is a public company listed on the OMX Nordic Exchange Helsinki (HEX:BAS). Headquartered in Finland, it has seven subsidiaries in Europe and one in the US.

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