Basware has today announced that its customer Celgene has been awarded overall winner in the Best Card Solution category in the Adam Smith Awards 2017. Treasury Today’s Adam Smith Awards have run for ten consecutive years, recognizing recipients globally with this ultimate benchmark of corporate achievement.
Celgene won their award for their solution developed by Basware together with Citi. With the prompt payment solution used by Celgene, early payment to suppliers is triggered by an invoice approval and is processed securely using Mastercard’s virtual card technology. The suppliers also gain greater visibility to receivables and easy remittance reconciliation.Anna Bianchi, Associate Manager, T&E at Celgene says, “We have a philosophy to innovate and continuously challenge the way things are done to improve productivity and efficiency across allareas of business. As Celgene’s suppliers were increasingly requesting early or upfront payments,we worked with Basware and Citi to pay our suppliers early without directly impacting our working capital position. We are honoured to receive the Adam Smith award for what we did together.”
Celgene, Basware and Citi will join the Gala Presentation Lunch at Plaisterers’ Hall in the City of London on Thursday, 22 June to celebrate the award with Celgene and representatives from other
innovative financial organisations.