Basware Named a Leader in IDC MarketScape Procure-to-Pay Assessment
Basware is recognized as a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Procure-to-Pay Applications 2021 Vendor Assessment. To be included in the IDC MarketScape assessment, vendors’ offerings must be “SaaS” or “cloud-enabled;” meet the IDC MarketScape definition of procure-to-pay (P2P); have procurement technology that encompasses P2P; and leverage innovations in intelligent technologies.
“Basware has once again been recognized by the IDC MarketScape as a Leader in Procure-to-Pay”
“Basware has once again been recognized by the IDC MarketScape as a Leader in Procure-to-Pay,” said Mickey North Rizza, program vice president for IDC’s Enterprise Applications and Digital Commerce research practice. “Basware is a particularly strong fit for companies with a multi-ERP environment and complex global deployment requirements.”
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The IDC MarketScape recognized the extensive Basware network and its ability to connect with all suppliers regardless of sending method as strengths contributing to its position in the Leaders Category. Additionally, the assessment notes that Basware recently introduced product enhancements that leverage machine learning, including SmartPDF AI and the Approval Confidence Index.
The report also recognized Basware as a “pioneer in touchless automation,” with technology that “enables 100% visibility and transparency around all spend.” Basware took that visibility one step further with its recent launch of its Spend Insights dashboard, which provides a single view across an organization’s entire spend – direct, indirect, PO and non-PO – and recommendations on suggested actions, all designed to help procurement departments rapidly identify areas for potential savings.
“The socioeconomic and political factors at play in our world have prompted prudent financial practice now more than ever, putting extreme pressure on finance and procurement teams,” comments Sami Peltonen, VP, P2P Solutions, Basware. “But the need for financial discipline also presents an opportunity to these teams to reinvent and recast themselves in a more pivotal business role – and that can easily be done with the touch of a button, with the right procure-to-pay technology. Plus, if your organization does leverage a P2P solution, you’ll quickly realize that technology – by enabling collaboration between procurement and finance processes – can help close gaps and drive continuing innovation across your P2P operations.”