Basware inks major deal; gets featured in Gartners Magic Quadrant

Basware has signed and e-invoicing agreement for delivery of e-invoicing services with a multinational engineering and electronics company in Germany. The value of agreement exceeds 650,000 euros ($703,365) over three years.

Moreover, Basware has been positioned by Gartner 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.

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.

“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.”

Esa Tihilä, CEO at Basware:
“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. 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.”

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