Basware: Vendor Analysis (Part 3) — Competitive and Summary Analysis

Basware faces significant competition from multiple segments of the procure-to-pay market. It competes against a range of vendors, including ERP providers that offer e-procurement and supplier network capabilities (along with varying degrees, based on vendor, of e-invoicing capabilities). It also competes against e-invoicing and supplier enablement specialists, regional supplier network / e-invoicing providers, independent e-procurement providers (e.g., Coupa) and traditional AP automation and scan/capture providers.

As a trend, competition is increasing (not decreasing) for Basware, which represents a challenge given the generally limited understanding in the market about what sets the provider apart and a lack of brand awareness within procurement. Further, the marketing effort it has expended thus far in the trade financing area (which has not yet resulted in material payables or receivables financing volume) and the fact Basware is largely unknown in North America as an e-procurement provider – even with the addition of Verian – also represents hurdles from a competitor perspective.

This final installment of our multipart Spend Matters PRO Vendor Snapshot series covering Basware offers a competitive analysis and comparison with other procure-to-pay, AP automation and supplier network providers. It also includes a user selection guide, user interface and user experience (UI/UX) analysis and summary evaluation and selection considerations. Part 1 and Part 2 of this PRO research series provide a company and deep-dive solution overview, a SWOT analysis, product strengths and weaknesses and a recommended fit analysis for what types of organizations should consider Basware’s product line.