ESPOO, Finland, Oct. 14, 2021 — Basware (Nasdaq: BAS1V) is pleased to announce that it has been recognized as a Provider to Know by Spend Matters, the world's largest information source for procurement and supply chain professionals. Each year its 50 Providers to Know list recognizes the best-in-class companies in the procurement and supply chain market and Basware has appeared on the list all eight years it has been published.
Described as “firms you need to know,” the 50 Providers to Know lead the charge on new procurement technologies and services, setting the industry standard. Vendors listed are independently selected by the analyst team over multiple rounds of debate, focusing on factors such as innovation, market presence, tech competency and solution delivery.
"Never has procurement technology been more front of mind for businesses. With companies heavily scrutinizing their supply chains and bottom lines to protect against volatility, the procurement technology space has in 2021 gained only greater notoriety — from customers and investors alike,” commented Spend Matters analyst team lead, Nick Heinzmann. “In the context of global shocks, innovative new take on what ‘source-to-pay’ includes and an urgent re-evaluation of what businesses should value beyond the balance sheet, we're pleased to present Spend Matters' annual '50 Providers to Know', '50 Providers to Watch' and 'Future 5' listees, determined by the entire Spend Matters analyst team to represent the best of the technology providers that serve procurement, finance and supply chain organizations.”
Basware offers the most advanced and intuitive procurement solution for organizations looking to automate their procurement processes to drive user adoption, better manage spend, lower processing costs and increase supplier collaboration.
“I believe our repeat appearance on this list is due to the trifecta that our comprehensive and sophisticated e-procurement solution offers: high user adoption, supplier collaboration and spend visibility,” said Katy Fonteyn, Director, Procurement Solutions, Basware. “We are constantly striving to make e-procurement as easy as possible; in fact, we hear from customers that procurement with us is so simple and intuitive that employees use it not because they are forced to but because it’s the fastest way to get things that they need.”
Basware is the only procure-to-pay and e-invoicing solution provider that empowers businesses with 100% spend visibility through 100% supplier connectivity and 100% data capture. Our cloud-based technology enables organizations to fully manage their spend, mitigate financial risk and reduce the cost of operations via automation. With the world’s largest open business network and an open technology ecosystem, we are uniquely positioned to deliver the solution required for Visible Commerce, which provides customers with complete transparency into all the flows of money, goods, and services around the world. A global company, Basware has offices in 14 countries and is traded on the Helsinki exchange (BAS1V: HE).