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Leverage Marketplace to Connect, Collaborate and Transact with Suppliers

Assure greater contract compliance, improve supplier relationships, and capture negotiated savings by leveraging the Basware Marketplace.

Are you looking to drive usage of preferred suppliers, reduce maverick spend, and increase spend under control?

Basware delivers a comprehensive an online B2B marketplace, enabling you to connect to your suppliers through catalogs and punchouts. We drive supplier adoption by making it easy for your end-users to find the products and services they need to do their jobs.

How Basware's Online Marketplace Can Help

Basware’s online business marketplace makes it easy for buying organisations to connect, collaborate, and transact with suppliers by making electronic catalogs available within the e-procurement system. With guided purchasing and up-to-date catalogs, Basware Marketplace ensures employees primarily purchase from preferred suppliers at negotiated prices.

Buyer Marketplace Benefits

  • Easily drive purchases to preferred products, suppliers, and channels.

  • Increase e-procurement user adoption levels and enhance real-time analytics.

  • Maximise spend under management and control and capture of negotiated savings.

  • Increase compliance with negotiated contracts and pricing.

  • Eliminate the challenge of managing various catalog formats.

  • Gain complete control to review new or updated catalogs before publishing them.

  • Collaborative tools support improved supplier relationships.

Supplier Marketplace Benefits

  • No registration costs for suppliers to join the Basware Network.

  • Simple e-catalog creation directly from back-end systems or through file uploads.

  • Self-service tools for the management and distribution of e-catalogs to one or more buyers.

  • Easily customise catalogs for key customers.

  • Total control to quickly change items and prices before catalog submission.

  • Easy connectivity into buyers’ processes through collaborative e-Order and e-Invoicing.

  • Re-use item information and price lists for multiple buyers, eliminating the need to re-create multiple catalog files.

Marketplace Capabilities

Supplier Managed Catalogs

Catalog management is easy for suppliers thanks to the tools available in the Basware Marketplace. Suppliers can create catalogs within the Marketplace and customise them for key customers with relevant products and pricing, so they can reuse the same content for multiple customers, significantly reducing the effort involved in catalog management. Alternatively, suppliers can also leverage punchouts if they want to manage the catalogs on their end. This increases supplier adoption and also ensures that end users have access to the most up-to-date products and pricing in the Marketplace.

Buyer Managed Content

One of the key drivers to user adoption of any procurement solution is the availability of products and services that users want to procure. Basware Marketplace makes it easy for organisations to make these available by allowing procurement professionals or admin users on the buyer side to manage purchasable content on behalf of suppliers, through agent agreements.

Automated Catalog Updates

Online stock integration – from both supplier systems and internal inventory solutions – means that requisitions have easy visibility into item stock levels and can avoid unnecessary review and approval of non-available items. Once suppliers have provided their content in the Marketplace catalogs, there is no further effort involved for future updates to stock information. Integration through automated file transfer allows for frequent inventory updates, without the need for human intervention.   ​

Supplier Collaboration

Basware also supports collaboration and communication between buyers and suppliers, especially when it comes to any changes made to the catalog content. The solution is flexible to allow buyers to determine whether changes to catalogs or items need to go through an approval workflow or can be approved automatically. For example, minor updates like changes to product images can be made without the need for approval, whereas any price changes will need approval by the buyer.

Source-to-pay Ecosystem

Basware takes an ecosystem approach when it comes to  Source-to-Pay (S2P) solutions. An S2P ecosystem relies on a network of applications that drive your business through a centralised hub and multi-vendor approach. Ecosystems make it easier for organisations to use a connected, integrated approach to their procurement needs (among others) while using the vendors that best fit their needs.