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Basware Named an Accounts Payable Leader in IDC MarketScape 2020-2021 Report

Friday, February 5, 2021

Basware Named an Accounts Payable Leader in IDC MarketScape 2020-2021 Report

ESPOO, Finland, FEBRUARY 5, 2021 -- Basware (Nasdaq: BAS1V) today announced that it is named a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Accounts Payable Automation Applications for Enterprise 2020–2021 Vendor Assessment (doc #US47032520, December 2020). This IDC MarketScape study provides an assessment of the SaaS and cloud-enabled accounts payable automation applications for enterprise and discusses the criteria that are important for companies to consider when selecting a system.

“The IDC MarketScape has recognized Basware as a Leader in AP Automation,” said IDC analyst Kevin Permenter. “Basware is an especially appealing fit for complex global enterprises with multi-ERP environments that need to automate a variety of invoice types. Its integration experience - not just with ERPs but also with direct procurement, SRM, VMS and tax solutions – is also invaluable in an era where solution providers need to fit into a larger application landscape.”

The IDC MarketScape identifies the extensive Basware network and ability to integrate to more than 250 different ERP systems as strengths contributing to its position in the Leaders Category. The study specifically notes that Basware “provides visibility around all spend” and ”helps its customers mitigate financial and reputational risks.” The accolades underscore the Basware promise to empower businesses with 100% spend visibility through 100% supplier connectivity and 100% data capture.

“Paper is not only inefficient, but also presents challenges, which the Covid-19 pandemic quickly highlighted,” comments Sami Peltonen, VP, P2P Solutions, Basware. “It's not enough for organizations to simply outsource the paper and get rid of it from their four walls; they need to get rid of it from the entire process. As one of the largest open global networks, we already support suppliers with multiple options so they can easily move from paper to electronic with an option that works best for them. Plus, we are always innovating, adding more options to the mix that further reduce manual effort -- case in point, SmartPDF AI, a new solution that captures invoice data automatically via artificial intelligence.” 

To learn more about Basware Accounts Payable Automation, visit https://www.basware.com/en-us/solutions/ap-automation/. To view the report, visit https://idcdocserv.com/US47032520e_Basware

About IDC MarketScape: 

IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

About Basware: 

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).

Media Contact:

Jeanne Bernish
[email protected]