Global Finance Names Basware Best Electronic Invoice Presentation and Payment Services Provider

Prestigious Magazine Recognizes Basware’s Purchase-to-Pay Solutions for Key Role in Helping Companies Improve Transaction Processes, Reduce Risks

3rd February 2010 - 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.  The magazine recognized Basware’s exclusive position in its ranking of the Best Treasury and Cash Management Banks and Providers, which will be published in an exclusive survey in its March 2010 issue.

Global Finance editors, with input from industry analysts, corporate executives and technology experts, ranked the Best Treasury Management Systems and Services providers across 11 categories.  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 and product innovation.  
“Basware is honored to be recognized by Global Finance for our Electronic Invoice Presentation and Presentation solutions,” said Ari Salonen, Basware’s general manager, North America.  “The recognition demonstrates our commitment to developing world-class solutions that bring the roles of finance and procurement together to help companies weather the recession by saving costs and gaining greater control of the entire financial value chain.”

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 and Basware Purchase Management, achieve key business benefits, including the compliance, visibility and control they need to effectively manage their spend, cash flow and capital.  Basware’s experience and knowledge of working with companies in different industry sectors and thorough understanding of the needs of CFOs and purchasing executives, has given it a deep understanding of how these two important functions should work together to achieve greater visibility and control over financial processes, and that understanding is reflected in Basware solutions.

“In today’s competitive global environment, treasurers need the best tools and advice available to make capital work harder than ever,” said Joseph Giarraputo, publisher of Global Finance.  “We selected Basware as the best electronic invoice presentation and payment provider because its solutions and services consistently improve transactions processes to reduce risks and improve working capital management.”  

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.  Its website, www.gfmag.com, 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.

About Basware
Basware is the global leader in purchase-to-pay solutions with more than 1,500 customers and 850,000 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.

For more information call +44 (0)1606 331234 or email info.uk@basware.com