Basware (Nasdaq: BAS1V), the global leader in networked source-to-pay solutions, e-invoicing and innovative financing services, announced today that it has been named a Value Leader for all five buying personas in Spend Matters’ Q2 2019 Procure-to-Pay SolutionMapTM. Only three out of 11 participating vendors achieved this feat during the second quarter.
Value Leaders are providers that exceed the benchmark for both analyst and customer scoring. SolutionMap is used by procurement organizations to swiftly identify a vendor shortlist during the technology selection process.
“The SolutionMap demonstrates that Basware can meet a wide variety of buyer requirements. Whether it’s a customer prioritizing speed to value, flexibility & modularity or proven ERP integration, we are a leading solution,” said Klaus Andersen, CEO of Basware. “Most importantly, the customers surveyed by Spend Matters agree, as they praise our ease of implementation, high level of configurability and systems integration capabilities.”
Instead of taking a one-size-fits-all approach, the SolutionMap is built around multiple “buying personas,” providing ranking graphics for each module based on key buyer requirements. These personas include: Nimble (prioritizing speed to value and low pricing); Deep (requiring the most comprehensive, tailorable solution for the job and best-in-class functionality, breadth, depth and ability to support sophistication); Configurator (an emphasis on flexibility, modularity and internal/external integration to support an organization’s evolving needs); Turn-Key (emphasizing a combination of software capability and supporting services to contractually deliver results and a defensible ROI); and CIO-Friendly (valuing IT support and a CIO endorsement).
The biggest change between the Q1 2019 and Q2 2019 SolutionMap is the adoption of a new and improved RFI (request for information) used by the analyst team to gather all underlying data from providers participating across the source-to-pay spectrum. Beyond solution application functionality and services, this Solution Map delivers an enhanced view of platform core, configurability, analytics (including metric management & reporting, data & document management), engagement (UX, automation & emerging technology), supplier information management and supplier portal capabilities.
“Whether we’re considering common eProcurement or Invoice-to-Pay capabilities, we once again see Basware performing above the analyst benchmark average across all personas in the Q2 SolutionMap,” said Xavier Olivera, Lead Analyst at Spend Matters. “This is an accomplishment that puts Basware within only a small group of peers — precisely what procurement and finance organizations selecting technology should focus on in deciding whether Basware is a potential fit.”
You can visit spendmatters.com/solutionmap to view the free ranking charts by RFI category and buying persona or to learn more about the methodology.
About Spend Matters — Solution Intelligence for Procurement
Spend Matters is the leading solution-intelligence source for procurement and supply chain professionals. Combining deep technology analysis and tailored advisory services with daily news coverage and subscription research, Spend Matters is trusted by CPOs, consultants, investors and solution providers alike as their procurement technology intelligence partner. Spend Matters is owned and managed by Azul Partners Inc.
Basware offers the largest open business network in the world and is the global leader in providing networked purchase-to-pay solutions, e-invoicing and innovative financing services. Our technology empowers organizations with 100% spend visibility by enabling the capture of all financial data across procurement, finance, accounts payable and accounts receivable functions. Basware is a global company doing business in more than 100 countries and is traded on the Helsinki exchange (BAS1V: HE).