Basware Acknowledged by Supply & Demand Chain Executive
Basware, the global leader in networked P2P solutions, e-invoicing, and innovative financing services, today announced that it has been chosen to receive a 2016 SDCE 100 Top Supply Chain Projects Award from Supply & Demand Chain Executive for helping an international pharmaceutical firm transform its invoicing process and achieve significant cost savings, and financial visibility.
The award will be detailed in the June issue of the publication.
“We are very pleased to be recognized for our work helping companies simplify, streamline and gain greater visibility and control over their financial processes,” said Bob Cohen, Basware VP, North America. “Solutions such as Basware Invoice Automation not only help them to save significant time and money, but also to be better positioned to identify and take advantage of business opportunities as they arise. In the case of this pharmaceutical company, the benefits extended beyond Accounts Payable to also include Treasury, Accounting and other departments, enabling the firm to better manage cash flow, conduct quicker audits and ensure compliance, among other advantages.”
Through the implementation of Basware Invoice Automation, the pharmaceutical company achieved high matching rates, and was able to spare themselves days of manual labor trying to respond to inquiries each month.
The company additionally gained visibility into each invoice throughout the process to help its Treasury department accurately forecast working capital and manage cash flow. This was done so that Accounting could rapidly conduct closes and process accruals at a fraction of the time.
“Our goal with 2016’s SDCE 100 is to shine the spotlight on successful and innovative transformation projects that deliver bottom-line value to small, medium and large enterprises across the supply chain,” says Ronnie Garrett, editor of Supply & Demand Chain Executive. “The selected projects can serve as a roadmap for supply chain executives looking for new opportunities to drive improvement in their own operations. We congratulate all of our winners for a job well done.”