Spend Matters continues to expand. Today, I'm happy to announce that Basware, has become a Lead Sponsor. Basware is very well known throughout Europe as one the leading procure-to-pay providers. But they've reached across the Atlantic in recent years and have been quietly but successfully building a profitable beachhead in North America. I suspect this landing point will soon become a full-fledged port. Those familiar with Basware's solutions know that they probably have the most capable invoice automation suite in the market. It's rare these days that one solution pulls ahead of others in this way, but from a downstream procurement perspective, Basware tends to always come out as a finalist when they get invited to the deal table. They're always at the top of my list when I get asked for a shortlist in downstream procurement. And they should be on your list as well.
As Basware continues to make its presence known throughout the US and Europe, I suspect that we'll begin to hear quite a bit more from them. The market opportunity to drive better working capital management strategies through targeting the intersection of finance and procurement is huge at the moment. While I suspect much of Basware's growth will come from selling the end-to-end P2P suite, their specialty in translating invoice automation into strategies that drive working capital management returns should make for a particularly appealing cocktail in a lengthy downturn where available capital is constrained -- and to those who are looking to profit from it and where those without it are looking to hang on to every penny they can.
Please join me in giving a warm welcome to Basware as they become the newest member of the Spend Matters sponsor community. I'm sure that you'll be hearing much more from them in the coming year as they become an often automatic shortlisted provider in many end-to-end P2P deals -- and just about any enterprise deployment of an invoice automation solution. If you're curious to learn more about Basware from a Spend Matters perspective, check out the following posts in the series: Basware -- Forecasting Growth in the Downturn: Part 1, Part 2 and Part 3.