Gartner Procure-to-Pay research positions Basware in Leaders quadrant
Monday, 30 Mar 2015
Senior Vice President, Products & Services
The fact that Basware has been just named a Leader in the first ever Magic Quadrant (MQ) for Procure-to-Pay (P2P) Suites for Indirect Procurement is significant for two reasons:
Firstly, to be positioned in Leaders quadrant in the MQ – arguably one of the most sought after reports produced by Gartner – is a remarkable milestone for us.
Secondly, this is the first MQ for P2P, which shows that this market category has truly come of age of a major technology market. We know it is also the category that Basware invented by introducing the concept of end-to-end purchase-to-pay ten years ago already.
Gartner’s recognition of P2P as a market category of its own only now comes as little surprise to me. As pioneers, we have seen the disruptive nature of end-to-end P2P has on both finance and procurement functions around the world. Focus in the early days around automating processes and improving collaboration across P2P has evolved into totally new opportunities around the global business commerce network. The one million companies around the world that we have connected can now tap into new financing services around payment and improve spend analytics around purchase that were previously unimaginable.
Gartner comments that “P2P suite Leaders demonstrate a market-defining vision of how technology and services can help procurement establish, develop and maintain contract compliance and cost-effective processes for managing and controlling external spend.” It makes me immensely proud that Basware is included as a Leader in this category. I also believe P2P is where the future lies and we will remain 100% focused in P2P with strong roadmap to keep us leading the market with new innovations.
Our most recent innovations are around financing services to boost our unique combination of P2P and an open global commerce network with extensive e-invoicing services, making our networked-centered approach to P2P a game changer for organisations as they can boost cash flow and improve their financial agility.
“As real e-invoicing gains traction, more organisations are showing interest in automating the full P2P process,” was indicated by Gartner, and we are happy to confirm this from our side with the increasing interest and customer demand in our e-invoicing, network services and full P2P solution. I would argue that P2P is probably one of the most important technology categories in the industry at moment because of its proven track record in helping global organisations take control of their finances and ultimately become more profitable.
I think being positioned in Leaders quadrant in this report speaks for itself. It gives me great pleasure to share the full report with you here »
The Gartner Report(s) described herein, (the "Gartner Report(s)") represent(s) data, research opinion or viewpoints published, as part of a syndicated subscription service, by Gartner, Inc. ("Gartner"), and are not representations of fact. Each Gartner Report speaks as of its original publication date (and not as of the date of this Prospectus) and the opinions expressed in the Gartner Report(s) are subject to change without notice. Gartner Research Document Gartner Magic Quadrant for Procure-to-Pay Suites for Indirect Procurement, Magnus Bergfors, Paolo Malinverno, Deborah R Wilson, 24 March 2015.