STAMFORD, Connecticut, August 8, 2017 /PRNewswire/ --
Basware, the global leader in networked purchase-to-pay (P2P) solutions, e-invoicing and innovative financing services, announced today it received a 2017 SDCE 100 Top Supply Chain Projects Award from Supply & Demand Chain Executive for helping Envision Healthcare achieve critical business benefits through procurement automation. This initiative enabled the provider of outsourced medical services to save millions of dollars annually.
"In today's cost-conscious healthcare environment, Envision Healthcare stands out as a forward-thinking company that is committed to controlling spend," said Tehseen Dahya, Senior Vice President, North America at Basware. "It is rewarding to help them gain this control as well as greater visibility into spend, inventory and assets – all of which enables substantial savings."
Using Basware's e-Procurement solution and Budget Manager and Asset Manager modules to automate the manual paper-based process, Envision was able to gain visibility into spend details and accruals and achieve ROI on the initial investment in less than a year. The company realized significant savings through vendor consolidation, product and vendor standardization, contract compliance, improved negotiations, volume discounts, and substitution of items for lower-priced items. Envision also increased control over spend using system-based, budget-to-actual comparisons, approval rules and detailed reports.
"Basware's e-Procurement system provides tremendous visibility into what we are buying and allows us to reduce costs by controlling supply channels, improving negotiations and ensuring contract compliance," said Valerie Gaither, C.P.M., VP Procurement & Fleet Administration, Envision Healthcare. "For example, by using the system and working with our clinical leadership to review medical protocol, we were able to reduce SKUs in five medical spend categories by 50 percent and realize several million in annualized savings."
The SDCE 100 is an annual list of 100 innovative supply chain projects, and can serve as a guide for supply chain executives who are looking for new opportunities to drive improvement in their own operations. These projects show how supply chain solution and service providers help their customers and clients achieve supply chain excellence and prepare their supply chains for success.
"Our goal with 2017's Top 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," said 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."
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. Visit us on the web at www.SDCExec.com.
About Envision Healthcare
Envision Healthcare Corporation is a leading provider of physician-led services, ambulatory surgery center management, post-acute care and medical transportation. Physician-led services encompass providers at more than 780 hospitals in 45 states and include leadership positions in emergency department and hospitalist services, anesthesiology, radiology, and women's and children's services, as well as offerings in general surgery and office-based medicine. As a market leader in ambulatory surgical care, the company owns and operates 260 surgery centers and one surgical hospital in 35 states and the District of Columbia, with medical specialties ranging from gastroenterology to ophthalmology and orthopedics. Post-acute care is delivered through an array of clinical professionals and integrated technologies designed to contribute to efficient and effective population health management strategies. As a leader in healthcare transportation services, the company operates in 39 states and the District of Columbia. In total, the company offers a differentiated suite of clinical solutions on a national scale, creating value for health systems, payors, providers and patients. For additional information, visit www.evhc.net.
Basware is the global leader in providing networked purchase-to-pay solutions, e-invoicing and innovative financing services. Basware's commerce and financing network connects businesses in over 100 countries and territories around the globe. As the largest open business network in the world, Basware provides scale and reach for organizations of all sizes, enabling them to grow their business and unlock value across their operations by simplifying and streamlining financial processes. Small and large companies around the world achieve significant cost savings, more flexible payment terms, greater efficiencies and closer relationships with their suppliers. The company's North American business, Basware, Inc., is headquartered in Stamford, Conn. Find out more at www.basware.com.
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