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Basware: Vendor Snapshot Update (Part 2) — Product Strengths & Weaknesses [PRO]

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Basware, a Nordic procure-to-pay (P2P) provider that until recently adopted a conservative global growth strategy, is not as well known outside its customer base for its set of differentiated and robust capabilities, especially in the AP automation, e-invoicing and supplier network areas. Through its acquisition of Verian, it added sufficient e-procurement capability to compete against other best-in-class purchasing technology providers (previously, its cloud-based Alusta platform, which forms the basis of its AP automation and invoicing capability, was not competitive in the e-procurement market against specialized providers). In the trade financing area, we have applauded Basware in the past for taking a highly strategic approach in partnerships to both payables and receivables financing. And we now applaud its more competitive approach in adding partnerships to its multi-funder capability and “on demand” programs.

This Spend Matters PRO Vendor Snapshot Update (Part 2) explores Basware’s strengths and weaknesses in the P2P, supplier network and trade financing areas, providing facts and expert analysis to help organizations decide if they should shortlist the vendor as a potential provider. Part 1 looked at updates since our 2016 brief, offering a company and detailed solution overview, as well as a recommended fit suggestion for what types of organizations should consider Basware. Part 3 will include analysis and commentary.

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