Spend Matters 50/50: Basware – A Provider to Know in 2015


100 companies - 100 days

We announced here and here our two (not ranked) lists: Spend Matters 50 To Know and 50 To Watch firms for 2015/2016. In the first case, this is our view of the 50 solution provider type organisations in the procurement industry that every senior procurement leader should be aware of and understand. The 50 To Watch are the up-and-coming firms  - those with interesting and relatively new solutions for our market. The 50 To Know are the key organisations in our industry that procurement executives need to have on their radar.

Having announced the lists, our US colleagues are now featuring each of the 100 firms in turn with an article giving an overview of each, with some headline Spend Matters thoughts on them. So on this site we will be giving you a brief extract of the US article, plus adding our own comments where we have anything useful to add from a European perspective. Sometimes we do, sometimes we don’t!

Here is what our US colleagues had to say about Basware:

"Basware is a cloud-based purchase-to-pay (P2P) and eInvoicing solutions company. One of the biggest business networks in the market, the Basware Commerce Network connects 1 million companies across 100 countries and generates 80 million transactions a year. It does this using an open network that provides linkages with more than 180 B2B networks globally, allowing customers to transact in many places they do business.

The provider has an organic and acquisition-based growth strategy. With its recent acquisition of London-based Procserve, for example, Basware gained a strong position in the UK’s public sector eProcurement market ... "

You can read the whole review here. Basware is of course a Finnish firm, quoted on the Helsinki stock market, with a significant customer base around Europe. The Procserve deal just reinforces that strength this side of the Atlantic, as well as taking the firm into some potentially interesting new product areas and markets.


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