Basware

    
60 Long Ridge Road | Stamford, CT | 06902 United States
Sales.usa@basware.com
+1 203.487.7900
Provides solutions and/or services in the following categories:

As the global leader in providing purchase-to-pay and e-invoicing solutions in the world of commerce, Basware empowers companies to unlock value across their financial operations. With Basware, small businesses to corporate giants across all industries can simplify and streamline key financial processes to strengthen control, reduce costs and gain proactive insight into cash flows, as well as improve buyer-supplier relationships.

We have helped over 2,500 enterprises in over 100 countries around the world to automate their purchase-to-pay processes and provide a unique combination of 30 years’ experience in financial process automation, the world’s largest open commerce network, and leading-edge technological innovation.

In addition to being named Spend Matter 50 to Know for the third consecutive year, Basware has been recognized in Global Finance magazine for Best Web-Based Supply Chain Financing Solution and named Best Provider of Working Capital Management Solutions and Accounts Payable, positioned as one of the largest cross-industry supplier networks in the “Vendor Landscape: B2B Business Networks” report by Forrester Research, recognized for implementing a Top 100 Supply Chain Project by Supply & Demand Chain Executive and positioned as a Leader in the 2015 “Magic Quadrant for Procure-to-Pay Suites for Indirect Procurement” report by Gartner.

The Basware-Scanmarket Arrangement: Accelerating P2P’s Natural Heading

How long has it been? Maybe two or three years since procurement’s pursuit of the “Amazon-like” shopping experience became cliché? At that time, the stated mission was to improve compliance. But while we’ve seen significant strides in compliance of covered spend, we haven’t necessarily seen great leaps in spend coverage. Whether spend coverage remains P2P’s weakest suit is up for debate, but the point is, for a relatively mature solution market, the idea that cross-industry spend coverage remains in the 60%–80% range is not acceptable. As a result, there is room for certain P2P vendors willing to claim that they can do better, and Basware is one of them.  In fact, Basware boldly states that it is taking its customers to 100% coverage — and isn’t the slightest bit shy about the claim. What’s different about Basware? Unlike its largest cross-industry rivals, Basware has an open supplier network. It has not only on-boarded hundreds of thousands of suppliers across the globe but is also fully integrated with dozens of industry-specialized buying networks. In other words, Basware has become expert at integrating entire markets, including all of the associated supplier content, exercising a philosophy that is, in fact, distinguished from competitive private network alternatives, regardless of how large they may be. Furthermore, whether direct, indirect, PO-based or non-PO-based, Basware’s AP automation module serves as an intelligent layer of abstraction that is capable of capturing and normalizing it all. Putting all of that aside for a moment, in a recent discussion I had with Basware, we talked about the firm’s recently announced partnership with Scanmarket. Although the provider’s comments referenced the customer benefits of its newly minted S2P capability, the people I spoke to never backed off talking about the firm’s ability to drive 100% spend coverage. It caught my attention, because in a S2P context it’s smart, especially when considering how ripe the savings opportunities are for spend categories that have never before been covered/managed/competitively sourced.   This post does not offer an analysis of Scanmarket; please reference our PRO Vendor Snapshot series for a thorough solution review: If you need a few confidence-inspiring anecdotes, however, consider the following: Basware is one of the world’s largest P2P players, so it had options and way too much to lose in shortcutting its market evaluation process. Its choice of Scanmarket (or Scanmarket’s choice of Basware) is being applauded. For reasons as varied as ease of integration, established shared customers and cultural fit, the partnership makes sense. For example, when I pressed for information on integration progress, I was not only assured that it is on schedule for completion in less than 60 days (end of June 2017), but that the solution has already been rolled out to several cross-industry customers for additional feedback/refinement. The buzz indicates that Basware’s customers are lining up to add sourcing, contracting and supplier performance management capability, even ahead of Basware completing its sales training (i.e., 140 Basware sales people are currently getting educated). The provider spoke in terms of the S2P vision shared by both firms and how Basware and Scanmarket’s respective product roadmaps are nicely synchronized. And why wouldn’t they be? The S2P vision is not a state secret. It is clear that this particular S2P “arrangement” was not hatched in a vacuum. These are two successful companies with complementary capabilities and shared customers and visions. That vision includes the further enablement of Basware’s global marketplace — a natural extension to its well-established P2P capability.
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