Gartner Positions Basware as a “Leader” in its first Magic Quadrant Report
Espoo, Finland, 30 March, 2015 – Basware, the global leader in purchase-to-pay (P2P) and e-invoicing solutions, has been positioned by Gartner, Inc. as a “Leader” in its 2015 Magic Quadrant for Procure-to-Pay Suites for Indirect Procurement* report. This is the first year that such a Magic Quadrant has been created by Gartner.
“We consider our position in the Leaders quadrant as a proof point for our excellence in e-invoicing and accounts payable invoice automation. We further believe this confirms our global leadership we have gained with our forerunning and innovative P2P solutions,” says Esa Tihilä, CEO at Basware. “I’m excited to see that Gartner now recognises the impact of P2P on businesses worldwide with this new report. Basware introduced the concept of end-to-end purchase-to-pay almost ten years ago. We now connect over one million companies around the world to help them achieve efficiency and cost benefits through the automation of key business and finance functions.”
According to Gartner: “P2P suite Leaders demonstrate a market-defining vision of how technology and services can help procurement establish, develop and maintain contract compliance and cost-effective processes for managing and controlling external spend. They have the ability to execute against their vision with products and services, and they have demonstrated results in the form of growth and customer satisfaction.”
“We serve a global network of customers that are automating accounts payable processes, controlling their spend with e-procurement and rolling out e-invoicing to speed up payments, cut costs and boost cash flow. This is complemented by our new Financing Services, which offer not only the transactional support, but also the financial support to optimise cash flows and make the most of every opportunity to grow profitability,” Tihilä continues.
Gartner defines the procure-to-pay suites for indirect procurement to deliver four primary capabilities: E-purchasing, Catalog management, E-invoicing and Accounts Payable Invoice Automation (APIA). For inclusion in the March 24, 2015 Magic Quadrant for Procure-to-Pay Suites for Indirect Procurement report evaluated 20 different software vendors and placed Basware in the Leaders quadrant.
*Gartner “Magic Quadrant for Procure-to-Pay Suites for Indirect Procurement” by Magnus Bergfors, Paolo Malinverno, Deborah R Wilson, 24 March 2015.
About the Magic Quadrant
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Basware is the global leader in providing purchase-to-pay and e-invoicing solutions in the world of commerce. We empower companies to unlock value across their financial operations by simplifying and streamlining key financial processes. Our Basware Network, the largest open business network in the world, connects 1 million companies across 100 countries and enables easy collaboration between buyers and suppliers of all sizes. Through this network, leading companies around the world achieve new levels of spend control, efficiency and closer relations with their suppliers. With Basware, businesses can introduce completely new ways of buying and selling to achieve significant cost savings and boost their cash flow.
Find out how Basware helps money move more easily and lets commerce flow at www.basware.com.
Tel: +44 20 7802 2626
Baswareglobal at lewispr.com
Tel: +358 50 557 3822
sirje.ahvenlampi at basware.com