Basware Named as a Leader in e-Procurement

Stamford, Conn.June 2, 2014Basware, a provider of e-invoicing and purchase-to-pay solutions, was recognized as a leader in the “The Forrester Wave: eProcurement Q2 2014” report by Forrester Research Inc. as result of a comprehensive evaluation of procure-to-pay (P2P) automation platforms.

Forrester identified and evaluated the 11 most significant software platforms through a combination of surveys, product demonstrations, strategy briefings and customer reference calls for the report. The vendors were then scored against a comprehensive set of 69 evaluation criteria, including current offering, strategy and market presence.

The Forrester report described Basware as the largest independent e-procurement vendor and a leading P2P solution provider with a solid Alusta eProcurement platform. Furthermore, Basware was included as one of four vendors that are described as established e-purchasing specialists with broad suites and extensive supplier networks.

In the report, Basware was recognized for excelling in invoice automation, and its capabilities for capturing, validating and processing of all types of invoices. As other strengths, the analysts cited Basware’s innovative analytics and a large active supplier community—both directly on its Basware Commerce Network and via interoperability with over 170 other networks, making it one of the largest business networks in terms of transaction volume and value going through it.

“Invoice automation plays an important role in P2P as it eliminates time-consuming, manual processes, and ensures spend visibility, full control and efficiency. Combined with our open Basware Commerce Network, companies everywhere can automate the invoice process internally and externally, and contribute to both the bottom line and business growth,” said Esa Tihilä, CEO of Basware.

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