Gartner named Basware a Leader in the 2018 Magic Quadrant for Procure-to-Pay Suites for the third time. Read on for a demystification of the Gartner Magic Quadrant evaluation process.
It’s Not Magic – It’s Basware
I’m not sure why it’s called the Gartner Magic Quadrant, but I am sure that there’s no magic behind our recognition as a Leader. In my role as Senior Analyst Relations Manager, I have the unique opportunity to interface with nearly every aspect of our global business from research and development to product management to customer support to sales and marketing, and I can tell you our success boils down to 2 things – we’re 100% obsessed with customer success and we work hard to deliver.
What is the process for scoring procure-to-pay solution providers?
Gartner evaluates procure-to-pay solution providers by assessing solution capabilities and interviewing customers. We feel they are looking to understand how solution providers appeal to CPOs, CFOs and CIOs and how the product meets the needs of those key stakeholders. Gartner first issues an online survey and then talks to two different customers verbally for each provider.
How are solutions evaluated?
Gartner uses surveys, customer interviews and extensive solution demos, to evaluate the provider’s vision and their ability to execute on that vision by bringing innovation to life within the product.
Through our experience with the process, we believe that the following capabilities are being assessed:
- Core procure-to-pay functionality from e-procurement through ok-to-pay
- Global deployment suitability to maximise the value across the world
- Platform capabilities like mobile features
- AI & machine learning and smart technology applications
- Integration to ERPs and other back-office systems
- e-Invoicing sophistication and network reach
- Customer support and implementation aspects
- Packaged analytics
- Supplier information management tools
- Source-to-settle solution integrations
- Personal consumable workstream support for configuring complex workflows
- Requisition MRO workstream support to automate more processes
- Contingent work force procurement to automate the requesting of labor
- SOW services governance and procurement
- Direct order support
- Travel & expense capabilities to capture more enterprise spending
- Supply chain finance to support cash flow management
What factors make Basware a Leader in the Gartner Magic Quadrant for Procure-to-Pay Suites?
Based on the information contained in the 2018 Gartner Magic Quadrant for Procure-to-Pay Suites, we believe our 30+ years of industry expertise, strategic vertical approach, market-leading products and obsession with customer success landed us in the Leaders’ quadrant for the third time.
Our number one goal as a company is customer success. We empower customers to simplify operations and spend smarter to reach competitive agility by getting 100% spend visibility through on-boarding 100% of suppliers, capturing 100% of invoices and achieving 100% user adoption of e-procurement.
So, I think it’s important to call out four areas that Gartner commented on in the report that best demonstrate our 100% promise:
- Global deployment suitability to connect, streamline and strengthen operations with ease for enterprises across the world, helping them collect 100% of financial data from all locations
- World-class products that enable organisations to capture 100% of invoices and achieve 100% user adoption of e-procurement to leverage the power of their financial data and create a competitive advantage
Ready to learn more?
Read the press release for more details on the 2018 Gartner Magic Quadrant for Procure-to-Pay Suites and stay tuned for the full report that will be available soon. In the meantime, feel free to contact us – we’re here to help!
Gartner Inc., Magic Quadrant for Procure-to-Pay Suites, Desere Edwards, William McNeill, Magnus Bergfors, Patrick M Connaughton, Kaitlynn N. Sommers, May 29, 2018.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.