Customers and Analysts Name Basware a Procure-to-Pay, Invoice-to-Pay and eProcurement Leader
ESPOO, Finland -- December 13, 2018 – Basware (Nasdaq: BAS1V), the global leader in networked source-to-pay solutions, e-invoicing and innovative financing services, announced today that it has been named a Value Leader for all five buying personas in Spend Matters’ Q4 2018 Procure-to-Pay SolutionMapTM. Value Leaders are providers with both above average analyst and customer scores.
This SolutionMap evaluates e-procurement, e-invoicing, payments (invoice-to-pay) and P2P suite solutions. Basware was not only a Value Leader for all personas within Procure-to-Pay (P2P) but also for Invoice-to-Pay (I2P) - achieving the highest analyst score of any Value Leader for the Nimble persona within Invoice-to-Pay. Basware also was named was named a Solution Leader for all e-procurement personas, achieving above average analyst scores.
“We’re proud to be recognized as a Value Leader in the Procure-to-Pay SolutionMap. While analysts note that we continue to innovate and invest in our industry-leading P2P capabilities, the most important recognition we can have is from our customers – that we are delivering a high level of business value and meeting, if not surpassing, their expectations,” said Vesa Tykkyläinen, CEO of Basware.
The SolutionMap comprises equal parts customer and analyst input and assesses vendors based upon how they fulfill the needs of five different buying personas : Nimble (prioritizing speed to value and low pricing); Deep (requiring the most comprehensive, tailorable solution for the job and best-in-class functionality, breadth, depth and ability to support sophistication); Configurator (an emphasis on flexibility, modularity and internal/external integration to support an organization’s evolving needs); Turn-Key (emphasizing a combination of software capability and supporting services to contractually deliver results and a defensible ROI); and CIO-Friendly (valuing IT support and a CIO endorsement).
“Spend Matters continues to rate Basware as a recommended vendor across all SolutionMap personas for e-procurement, invoice-to-pay and procure-to-pay. Basware scores above the benchmark average based on the weighted criteria for analyst scoring, customer satisfaction or both in each of these scenarios,” said Jason Busch, Managing Director, SolutionMap and co-founder of Spend Matters. “This is an accomplishment that puts Basware within only a small group of peers — precisely what procurement and finance organizations selecting technology should focus on in deciding whether Basware is a potential fit.”
Basware offers the largest open business network in the world and is the global leader in providing networked purchase-to-pay solutions, e-invoicing and innovative financing services. Our technology empowers organizations with 100% spend visibility by enabling the capture of all financial data across procurement, finance, accounts payable and accounts receivable functions. Basware is a global company doing business in more than 100 countries and is traded on the Helsinki exchange (BAS1V: HE).
More information about Basware is available at www.basware.com.
P2P Solution Map reprint is available at SmapQ418_P2P_Basware.
Jeanne Bernish, Director of Communications, Basware NA
About Spend Matters
Spend Matters is the leading solution intelligence source for procurement and supply chain professionals. Combining deep technology analysis and tailored advisory services with daily news coverage and subscription research, Spend Matters is trusted by CPOs, consultants, investors and solution providers alike as their procurement technology intelligence partner. Spend Matters is owned and managed by Azul Partners, Inc.
Sam Rea, Marketing Engagement Manager, Azul Partners, Inc