Gain Visibility And Bring Spend Under Control With E-procurement

Lower procurement costs and reduce maverick spend. Increase supplier collaboration and mitigate supply chain risk.

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What is Electronic Procurement

Electronic procurement (also referred to as eProcurement or e-procurement) is the process of buying and selling goods and services over the internet. Electronic procurement creates digital communication lines between buying organizations and their suppliers and supports the process of requisitioning, ordering, and exchange of purchase documents in the business-to-business (B2B) world.

E-procurement delivers many benefits. When done properly, organizations can:

  • Drive cost savings and reliability by consolidating the supply base
  • Optimize spend by reducing maverick purchases 
  • Seize discounts by combining orders and purchasing in volume
  • Negotiate more favorable contracts with strategic suppliers
  • Strengthen supplier relationships and source innovative products and services
  • Safeguard against risk and supply chain disruption
  • Become a strategic business advisor to the rest of the company.

Are you looking to increase spend under control and mitigate supply chain risk? 

Basware delivers a comprehensive and sophisticated electronic procurement solution that enables companies to simplify their procurement operations and spend smarter by driving user adoption, supplier collaboration, and spend visibility.

How Basware Can Help

Basware offers the most advanced and intuitive procurement solution for organizations looking to automate their procurement processes in order to drive user adoption, better manage spend, lower processing costs and increase supplier collaboration. Procurement with Basware 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.

Eliminate Manual Procurement Processes

No matter how big or small your organization, if you’re still relying on paper-based, manual procurement processes, you’re likely facing several challenges – high procurement costs, lack of compliance with negotiated contracts, limited visibility into spend and difficult supplier relations. Basware can help overcome these challenges by eliminating time-consuming and error-prone manual processes from procurement operations.

Increase Spend Under Control

Basware procurement solutions offer an easy-to-use interface, supported by a robust underlying data model and guide purchasing to drive user adoption. Our solutions make it easy for users to stay compliant with procurement policy without having to understand the intricacies of that policy. Basware also provides procurement teams with the right digital capabilities to enable them to reduce maverick spending and increase spend under control. 

Gain Visibility Across your Spend

Basware provides a holistic view into 100% of your suppliers and spend from a single, centralized location to enable better strategic decision-making. Armed with data and visibility into company spending, you will be in a better position to drive operational savings, ensure compliance with negotiated contracts, and consolidate spend.   

Mitigate Supply Chain Risk

Basware helps you better manage supplier risks better due to closer collaboration with suppliers and due diligence. We can help you extend monitoring beyond your current top suppliers to reach new suppliers, eventually giving you more visibility into your long tail of suppliers. You can also identify changes in your supplier base and receive timely notifications to respond quickly and effectively.

“We now have a uniform purchasing method throughout the group. The number of suppliers has decreased considerably [by 60%].”

Ismo Karjalainen, Procurement Director, Finavia

E-Procurement Solutions

Open Commerce Network

Leverage the largest global, compliant, open commerce network to interact and collaborate with suppliers. The Basware Network is supported by easy onboarding services, and there are no fees required to join. This means you can easily connect to all your suppliers – from the largest to the smallest.

  • More than 2 million active buyers and suppliers 

  • Over 220 interoperability partners

  • Used by suppliers in 175 countries across the world

  • Automatic global compliance in more than 50 countries

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Business Marketplace

Basware Marketplace makes it easy for buying organizations to connect, collaborate, and transact with suppliers by making electronic catalogs available within the e-procurement system. With guided purchasing and up-to-date catalogs, Marketplace ensures employees 
primarily purchase from preferred suppliers at negotiated prices. 

Buyers can manage Marketplace content by: 

  • requesting content from their suppliers, 

  • controlling agreement expiry and attributes, 

  • controlling user access to content, 

  • enabling the sharing of content with other buying organizations. 

Suppliers can manage Marketplace content by:

  • creating punch-out links to their webshops for customers and

  • creating simple price lists for different buyers or without having to reload the same content multiple times

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Operational Sourcing

Basware Purchase supports operational sourcing through a number of different mechanisms making it easy for procurement professionals and end users to purchase the goods and services that they need. Some of the capabilities available include:

  • Price on Request supports business users requesting quotes from a contracted supplier for catalog items,

  • Framework Agreements allow business users to initiate mini competitions between a set of contracted suppliers for catalog items,

  • Quick Quotes enable professional users to reach out to multiple suppliers – both new and contracted suppliers.

Supplier Management

Basware Supplier Management provides tools for supplier information management and supplier risk and performance management by providing a centralized location for supplier master records across multiple ERPs and business systems.

The consolidated supplier master data is validated and enriched against external sources like Dun and Bradstreet or another 3rd party risk data sources. Based on this validation, enrichment, and risk verification, customers receive insights on possible duplicates, missing supplier data, and suppliers’ risk or operating status to make it possible to take corrective actions. 

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Guided Purchasing

Potential savings do not translate into actual savings unless employees purchase goods and services from preferred vendors. Guided purchasing increases compliance with supplier and pricing policies, simplifying the procurement process for end users and ensuring time and effort spend on negotiating favorable contracts is productive.

Simplified Shopping

A consumer-style shopping experience makes it easy for users to purchase the goods and services they need – increasing compliance and relieving procurement from “policing” the organization. Advanced catalog management tools and automated stock integration ensure that catalogs are up to date with the latest products and prices, simplifying the purchasing process for users. 

Pricing Compliance

Advanced search capabilities allow users to what they need while complying with preferred suppliers and negotiated pricing contracts. At the same time, budget check matrices inform approvers of the impact of purchases on budgets. This proactive approach gives managers the visibility to see how purchase requests impact budgets at the time of requisitioning versus after the money has been spent and budgets used up.

Advanced Approvals

The solution automatically issues POs and places orders as each item on a requisition is approved without waiting for the other line items on the same order that may require extra approvals, accelerating the procurement process. Further, procurement professionals can review and approve purchase requests when they need to, wherever they might be. Users can access the application even on the go, thanks to the seamless user experience across all devices, including mobile devices.

Out-Of-The-Box Analytics

Robust analytics capabilities help consolidate spend, right-size the supply base, and negotiate favorable contracts with suppliers. Graphical dashboards allow you to track spend by supplier, category, and department. View managed versus unmanaged spend, track process efficiency and ongoing improvement, and drill into the transactional details behind the trends. Predictive analytics inform you of how likely certain invoices are to be paid late so you can manage supplier risk and avoid late fees.