Basware named Best Provider of Working Capital Management Solutions and Accounts Payable by Global Finance
Basware, the leading provider of e-Invoicing and Purchase-to-Pay solutions, today announced that it has been selected as the best provider of treasury management systems and services by Global Finance magazine within two key categories: Best Provider of AP Solutions, and Best Provider of Integrated Working Capital Management Solutions. The full report of this survey will be published in the March 2016 issue of the magazine.
“We’re honored to once again be recognized by Global Finance for our leadership in delivering innovative solutions and financial services that not only empower the buyer supplier relationship, but that also help create a new era in B2B commerce,” said Bob Cohen, vice president, North America of Basware. “Through our AP solutions, as well as new financing services powered by the Basware Commerce Network, we’re enabling new opportunities for strategic invoice payment, as well as other financing options. This will help transform buyer-supplier commerce in the $100 trillion B2B trade market, and improve the financial health and cash flow of enterprises, small businesses and governments around the world.”
Basware was recognised by Global Finance for its innovative leadership in cloud-based accounts payable, e-Invoicing and financing solutions and services, including the following:
- Basware Invoice Automation, the company’s flagship product, which expedites invoice processing and provides enhanced visibility and control of cash, spend and working capital.
- Basware’s e-invoicing solutions, which enable companies to create, send, receive and archive invoices at a fraction of the time and cost of traditional methods. By conducting e-invoicing over the Basware Commerce Network – the largest open B2B network in the world that connects one million companies across 100 countries – buyers and suppliers can seamlessly collaborate.
- The company’s new Financing Service business offer multiple options for companies designing a payment strategy including: a global e-Payment solution (Basware Pay); dynamic discounting (Basware Discount) and an e-invoicing based, supplier driven, invoice financing service (Basware Advance). These options enable suppliers and buyers to boost their working capital and receive funding of their payables or receivables online, and payment within days, regardless of payment schedules.
In selecting the best providers for its annual Best Treasury & Cash Management Providers ranking, Global Finance used a multi-tiered assessment process—which included a readers’ poll, input from industry analysts, corporate executives, technology experts and independent research. A variety of subjective and objective criteria were considered, including: 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.
“The World of Treasury and Cash Management is evolving. Big banks are focusing on core clients, and regional and domestic banks are building market share around that. Plus, nonbank providers continue to offer increasing competition in a range of product areas,” said Joseph D. Giarraputo, publisher and editorial director of Global Finance. “The winners ofGlobal Finance’s Treasury & Cash Management Awards reflect that changing landscape. These providers work hard to offer their clients sophisticated, best-of-breed solutions.”