BasWare Named as Strong Newcomer in eProcurement Solutions by Independent Research Firm
Independent Vendor Evaluation Recognizes BasWare among Leading eProcurement Vendors Worldwide
BasWare Corporation (HEX:BAS), a leading provider of financial automation process solutions, has been recognized as a strong player in eProcurement solutions in the Forrester Wave™: eProcurement Solutions, Q2 2007 report published by Forrester Research Inc.
The report notes that though a relatively new player in the market, BasWare offers a very strong eProcurement solution. The report further states that BasWare is a strong player in the accounts payable market, and that the company’s recently introduced eProcurement solutions have come on strong to the market over the past two years. The report, which ranks products on a scale of 1 to 5, gives BasWare’s eProcurement solutions the top score of 5.0 in Goods Purchasing; a score of 4.70 for Reporting capabilities; scores of 4.50 for Settlement and Process Configuration; 4.50 Process Configuration; and a score of 4.72 for Globalization.
BasWare also receives a score of 4.18 for Services Purchasing and 3.38 for Supplier Connectivity and Enablement. The report notes that BasWare’s strategy position is strong with an aggressive product roadmap and a wide range of pricing options, as well as good financial resources.
The independent report, which is increasingly being used as an essential tool for businesses, provides a detailed review of the eProcurement market. Through a combination of vendor surveys, product demonstrations and client references, Forrester evaluated 14 leading eProcurement solutions vendors across 118 criteria and found that BasWare is a leader in eProcurement solutions for services purchases along with leading vendors, such as Ariba, Oracle, Oracle Enterprise PeopleSoft, and SAP. The report recognizes the company’s eProcurement solutions for overall goods and services buying and supplier support.
“BasWare has long been known for our flagship invoice processing solutions,” said Jari Tavi, Chief Technology Officer, BasWare. “The recognition by Forrester for our eProcurement solutions – which were recently added to our enterprise Purchase-to-Pay portfolio – establishes BasWare as a leader for solutions for services purchases in this fast-growing arena. Being cited as a leading vendor among well-known and established eProcurement vendors validates BasWare’s role as a complete Enterprise Purchase-to-Pay solutions provider.”
BasWare also has been previously recognized as a leading vendor in The Forrester WaveTM: Accounts Payable EIPP, Q3 2005 report.
The Forrester Wave on eProcurement cites the key role of eProcurement in improving purchasing processes in enterprises through automating requisitions and purchase orders for goods and services, decentralizing buying, connecting to suppliers and improving employee compliance with preferred supplier policies.
BasWare’s procurement solutions are a suite of off-the-shelf applications that include BasWare Purchase Management, Supplier Portal and Catalog Feeder solutions. BasWare Purchase Management enables procurement professionals to efficiently manage the internal procurement process, while streamlining product catalog management. The solution enables plan-based purchasing, which helps organizations create project or campaign-related purchase plans set within pre-agreed budget and catalog criteria. This increases procurement flexibility and automatically introduces procurement cost control and monitoring because only pre-approved products and suppliers can be selected.
To download the report, please go to www.basware.com/research_reports.
About BasWare
BasWare is the global leader in Enterprise Purchase-to-Pay and Financial Management solutions. More than 500,000 end-users in over 40 countries use its software to automate back-office financial operations to enhance efficiency, gain process control and transparency, and meet compliance requirements. BasWare’s products are widely used in Shared Service Centers.
In 2006, net sales reached approximately EUR 60 million. The growth target for net sales for 2007 is 15 - 20% and will continue to be supported by a growing network of value-added resellers. Founded in 1985, BasWare Corporation (HEX:BAS) is a public company listed on the Helsinki Stock Exchange. Headquartered in Helsinki, Finland, it has eight subsidiaries in Europe and the US.