Independent research firm names Basware as a leader in eProcurement

Vice President, Procurement

It’s always exciting to read new reports from research firms to discover and learn about industry trends and the companies leading the way in their sector. So I was particularly proud to read The Forrester Wave™: eProcurement, Q2 2014 report, published last Friday, given I knew Basware is included as a leader in this report. We have worked hard year-after-year to introduce new innovations for purchase-to-pay on our Alusta platform and to connect more businesses on Basware Network, the world’s largest open business commerce network in terms of transaction volume and value going through it. So, it was great to discover how Forrester Research, Inc. ranked us in their report.

It’s good news: Basware is cited as a leader

To get an idea about the scope of this report, our press release summarized it like this: “Forrester did a comprehensive evaluation of procure-to-pay (P2P) automation platforms. It identified and evaluated the 11 most significant software platforms through a combination of surveys, product demonstrations, strategy briefings and customer reference calls for the report. The vendors were then scored against a comprehensive set of 69 evaluation criteria, including current offering, strategy and market presence.”

This report is a very comprehensive study and gives great insights into the Procure-to-Pay (P2P) market, or the eProcurement market as Forrester prefers to call it, hence the name of this report.

I’m glad to see Forrester has not stopped where traditionally eProcurement ended and it has also included invoice automation and supplier connectivity in this report. These are actually the areas where Basware has been investing for years in response to customer needs, so it’s great to see that Forrester recognizes what we consider to be the efforts we have made by describing Basware as “fully supporting invoice automation has been central to Basware' success, and this is evident from the many types of invoice it can process automatically, more than any other product.”

In addition, Forrester describes Basware as the largest independent eProcurement vendor and a leading P2P solution provider with a solid Alusta eProcurement platform, innovative analytics, and one of four established ePurchasing specialists. I was particularly pleased to see how our large and active supplier community – both directly on Basware Network and via interoperability with over 170 other networks – was recognized as one of our strengths.

I’d recommend you take a read of the report since you can download a complimentary copy here.