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.
- Founded: 1985
- Headquartered in Espoo, Finland, with additional offices in Australia, Belgium, Denmark, France, Germany, Netherlands, Norway, Singapore, Sweden, U.K. and the U.S.
- Number of employees (range): more than 1,000
- Total annual revenue: $157 million
- Percentage of revenue from procurement/supply: 100%
- Serves customers from all continents
- Customers include Celgene, Kaplan, Bilfinger Real Estate, Panasonic, TH Real Estate, Brambles, Suez, NHS, Van Gansewinkel, Toyota, Accor Hotels, Colliers International and Penguin Random House
- Industries served include automotive, public sector and healthcare
- Available modules: Basware Purchase-to-Pay (Invoice, Match, Purchase, Marketplace) and Basware Network 16.10; Travel and Expense Management 3.9
- Other app integration: over 250 ERPs and financial (back end) systems
Background & OverviewFounded in 1985 in Espoo, Finland, as Baltic Accounting Systems to deliver enterprise finance software solutions, Basware has grown from a small country player to a global platform that does over €143.4 million annually (2015) with its client base of over 2,500 international P2P customers that collectively do business with over 1 million companies in over 100 countries. Basware’s P2P platform, which includes Spend Analytics (with limited support for stand-alone spend analysis outside of what is transacted in the system), the Basware Commerce Network, Supplier Financing, T&E, and deep AP/Finance support, is one of the most extensive P2P solutions on the market from a finance and procurement perspective. The company faces significant competition from multiple segments of the procure-to-pay market. Its competitors include:
- SAP Ariba