Basware, the global leader in purchase-to-pay (P2P) and e-invoicing solutions, has been positioned by Gartner, Inc. as a “Leader” in its 2015 Magic Quadrant for Procure-to-Pay Suites for Indirect Procurement* report. This is the first year that such a Magic Quadrant has been created by Gartner.
“We consider our position in the Leaders quadrant as a proof point for our excellence in e-invoicing and accounts payable invoice automation. We further believe this confirms our global leadership we have gained with our forerunning and innovative P2P solutions,” says Esa Tihilä, CEO at Basware. “I’m excited to see that Gartner now recognises the impact of P2P on businesses worldwide with this new report. Basware introduced the concept of end-to-end purchase-to-pay almost ten years ago. We now connect over one million companies around the world to help them achieve efficiency and cost benefits through the automation of key business and finance functions.”
According to Gartner: “P2P suite Leaders demonstrate a market-defining vision of how technology and services can help procurement establish, develop and maintain contract compliance and cost-effective processes for managing and controlling external spend. They have the ability to execute against their vision with products and services, and they have demonstrated results in the form of growth and customer satisfaction.”
“We serve a global network of customers that are automating accounts payable processes, controlling their spend with e-procurement and rolling out e-invoicing to speed up payments, cut costs and boost cash flow. This is complemented by our new Financing Services, which offer not only the transactional support, but also the financial support to optimise cash flows and make the most of every opportunity to grow profitability,” Tihilä continues.
Gartner defines the procure-to-pay suites for indirect procurement to deliver four primary capabilities: E-purchasing, Catalog management, E-invoicing and Accounts Payable Invoice Automation (APIA). The March 24, 2015 Magic Quadrant for Procure-to-Pay Suites for Indirect Procurement report evaluated 20 different software vendors and placed Basware in the Leaders quadrant.