Basware evaluated in new report on e-procurement

Basware Procurement solutions received excellent product viability rating in leading industry analyst firm’s evaluation ‘Critical Capabilities for Best of Breed E-Procurement Vendors’

Basware, the leading provider of purchase to pay solutions, was among the e-procurement vendors evaluated in Gartner’s ‘Critical Capabilities for Best of Breed e-Procurement vendors’ report (June 8, 2009). The report acts as a tool for procurement professionals to evaluate and shortlist available solutions for monitoring and streamlining their spending processes and capture. Assessing and rating 14 best-of-breed procurement vendors, Gartner sees a tremendous increase in interest in e-procurement solutions since late 2008.

The report assesses the 11 most common capabilities required by clients in e-procurement systems. Basware rated the full five out of five in the areas of Fixed Asset Acquisition and Specialised Casual User Interface, as well as receiving a score of four or higher in areas such as Basic Purchasing Functionality, Invoice Matching, Supplier Collaboration, Heterogeneous Integration and Multisite Support.

The report further goes on to evaluate e-procurement offerings for four major use cases: shared service, public sector implementation, ERP extension and unified purchasing/e-procurement application. For the critical capabilities in these use cases, Basware received the highest possible rating of five in fixed asset acquisition and specialized user interface.

The Basware Procurement Solutions suite consists of Basware RFx Management for effective sourcing, Basware Contract Lifecycle Management for managing and leveraging contracts, Basware Purchase Management for creating and managing an efficient purchasing cycle, and Basware Connectivity services for easy supplier connectivity. Globally over 1,500 organizations across all major industry verticals rely on Basware to generate savings, gain control and improve visibility over the purchase to pay process.

“We feel this report from Gartner further attests to Basware’s innovative and successful approach in the e-procurement space,” said Steve Muddiman, SVP Global Marketing. “As organizations look for new ways to manage cash flow and tackle maverick spending, e-procurement solutions gain popularity among our customers as a means to achieve control over spend. Customers and partners turn to Basware’s solutions because of our unique, integrated approach to the procure-to-pay process as well as the demonstrable impact on ROI.”

According to the report, “Approximately one-quarter of the rise in demand for e-procurement is due to the strong and immediate need for many organizations to immediately cut costs.” Moreover, “although most client inquiries do not include this extended financial value chain approach in their requirements, [we] expect the procure-to-pay approach to e-procurement to become increasingly popular during the next five years.”

For more information on Basware Enterprise Purchase to Pay solutions, please visit www.basware.com/solutions.

About Basware
Basware is the global leader in purchase-to-pay solutions with more than 1,500 customers and 850,000 users in over 50 countries around the world. With Basware, organizations can reduce the cost of buying and paying for goods and services and gain visibility and control of their entire spending process by automating manual processes, from sourcing, contract management,  purchasing and supplier collaboration to invoice automation.  Basware solutions and services enable substantial cost reductions across businesses and deliver value by providing compliance and control, as well as fast return on investment. The solutions are distributed and implemented, either on site or as a service, in Europe, the US, and Asia-Pacific through an extensive network of Basware offices and business partners. www.basware.com