Espoo, Finland – MARCH 27, 2020 – Basware (Nasdaq: BAS1V) announced today that it was named a Value Leader for all five buyer personas in Spend Matters’ inaugural Accounts Payable (AP) Automation Q1 2020 SolutionMap™, and for four buyer personas in Procure-to-Pay (P2P) and E-Procurement in their respective SolutionMap™. Value Leaders are providers with both above average analyst and customer scores.
“During this unprecedented time, our top priorities are the health and safety of employees, customers and partners and to continue to provide our services to our customers,” comments Klaus Andersen, CEO, Basware. “We are still forging ahead, acting on what is known today and preparing ourselves for the future -- and part of that is maintaining some sense of normalcy by celebrating successes, like these accolades in the SolutionMap. We’re proud of the superior marks from analysts and customers alike, which I see as a testament to the strong functionality, innovation and delivery of our solutions from diverse perspectives.”
SolutionMap, the definitive procurement technology benchmark rankings used for evaluating 69 procurement software companies across 13 technology areas, is comprised of equal parts customer and analyst input. It assesses vendors based upon how they fulfill the needs of five buying personas: Nimble, Deep, Configurator, Turn-Key and CIO-friendly personas.
Basware achieved the following rankings:
P2P SolutionMap: Value Leader for the Deep, Configurator, Turn-Key and CIO-friendly personas
E-Procurement SolutionMap: Value Leader for the Nimble, Configurator, Turn-Key and CIO- Friendly personas
Invoice-to-Pay SolutionMap: Solution Leader for all five personas
"Spend Matters’ latest SolutionMap update indicates that Basware’s P2P research and development continue to pay off,” says Xavier Olivera, Spend Matters’ lead analyst for the procure-to-pay solution market. “Basware has achieved SolutionMap’s top result of being ranked as a Value Leader, which means that their solution capabilities score well with analysts and that their customers gave Basware good marks. They did very well in three of the SolutionMap categories where they compete: E-Procurement, Procure-to-Pay and the inaugural AP Automation area."
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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).