Basware Launches Catalog Service available through Open Network

A complete catalog service allows organizations to trade with a multitude of organizations globally

Basware, the leading provider of purchase-to-pay solutions, has today launched Basware Catalogs, offering businesses a complete package of catalog services that enables immediate and improved engagement between buyers and suppliers through the Basware Open Network. Suppliers benefit from the ability to create customer-specific catalogs that can be maintained easily, thus improving the service they provide to customers. Combined with the Basware Open Network, Basware Catalogs allows organizations to start trading with more suppliers globally.

Effectively obtaining and managing product catalogs is a major pain point in any organization that has adopted e-Procurement. Basware Catalogs provides buyers with access to accurate, relevant catalog content and the Open Network allows purchasing organizations to receive catalogs from any supplier globally, extending the number of suppliers a business can trade with. Along with improved catalog content, businesses are more likely to see significantly reduced maverick buying, enhancing contract compliance and spend control.

Basware Catalogs is a packaged offering including: a buyer/supplier tool, professional supplier activation services and the benefit of joining a global trading network. Businesses also benefit from Basware’s expertise in activating and enabling suppliers to use the catalog tools, allowing organizations to extend the use of catalog-based purchasing as well as to start issuing and receiving purchase orders and invoices electronically. Basware Catalogs enables purchasing organizations to promote buying from preferred vendors at contracted prices and it allows purchasing staff to focus on catalog content, removing the need to deal with technical catalog problems. This service improves the level of automation within the purchasing process; a characteristic that 62% of finance professionals believe will positively impact profitability.

Basware Catalogs is a unique service delivered via the Basware Open Network, which has 320,000 active buyers and suppliers and 110 independent global partners. It gives businesses access to a global network supporting multiple data formats so businesses are no longer limited by traditional, closed networks often supporting only proprietary document formats. It offers buyers and suppliers the ability to take advantage of an interoperable platform, allowing buyers to achieve maximum spend under management within the environment of an open community and build collaborative relationships with their suppliers.

Suppliers benefit from the ability to easily create and maintain catalogs, guaranteeing that the product catalogs used by buyers are up to date and accurate. Suppliers can also create customer specific catalogs and post catalogs to the network, providing the ability to view specific pricing tailored to each customer, improving the service it can offer to its buyers along with increasing revenue opportunities for suppliers. 

Esa Tihilä, Senior Vice President, Basware comments: “Visibility of spend is a priority for any organization and buyers want to take advantage of preferred supplier relationships to maximize the value they can save on purchases. By implementing a complete catalog service offering it gives businesses greater control of budgets, reducing maverick spend across the organization. From a supplier perspective, it improves the ability to sell to customers and helps to reinforce long lasting customer relationships. It also eases the ability to manage catalog content, reducing the time spent on manually updating this information. What makes our approach unique is how we combine this functionality and the level of service with our Open Network, irrespective of the country of origin or the legacy technology, giving businesses the chance to trade with thousands of suppliers worldwide.”

To find out more about Basware Catalogs visit: www.basware.com/solutions/procurement/catalogs. 

About Basware
Basware is the global leader in purchase-to-pay solutions with more than 1,000,000 users in over 60 countries. The Basware Open Network for e-invoice and purchase message transactions today connects more than 320,000 companies globally. With Basware, an organization can reduce the cost of buying and paying for goods and services and gain visibility and control of its entire spending process by automating manual processes, from sourcing, contract management, purchasing and supplier collaboration to invoice automation. Basware solutions and services enable a company to improve its cash position, optimize working capital and maximize the agility of its finance operation across the purchase-to-pay cycle. 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