Gartner 2016 Magic Quadrant for Procure-to-Pay Suites: Basware a ‘Leader’ and Verian a ‘Visonairy’

Basware today announced it has been positioned by Gartner in the Leaders quadrant of its latest Magic Quadrant for Procure-to-Pay Suites report. This was the second consecutive year for Basware to be recognized as a Leader in this report, now published for the second time.

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. Leaders successfully sell into multiple industries and multiple geographies.

Leaders are often what other providers in the market measure themselves against, and they are the most likely vendors from this report to be in the P2P suite business five years from now.

Gartner defines the procure-to-pay suites as delivering four primary capabilities: E-purchasing, Catalog management, E-invoicing and Accounts Payable Invoice Automation (APIA). For inclusion in the 2016 Magic Quadrant for Procure-to-Pay Suites report, Gartner evaluated 12 different software vendors and placed Basware in the Leaders quadrant.

Basware and Verian

Basware acquired Verian in April 2016, which offers complementary, native solutions in asset and inventory management and travel and expense reporting. Verian was positioned highest in the Visionaries quadrant for ability to execute in the Gartner Magic Quadrant for Procure-to-Pay Suites report for the second consecutive year.

Esa Tihilä, CEO of Basware:
 “We consider our positioning in the Leaders quadrant to be a strong indicator of Basware’s excellence in delivering extensive, networked purchase-to-pay solutions, enabling our customers across the world to achieve better financial agility. CFOs and their organisations are recognising the power these solutions have – creating significant cost savings, improving operational efficiency, building better relationships with suppliers, enabling more flexible payment terms and boosting cash flow.”

“Together Verian and Basware will provide customers with the most comprehensive purchase-to-pay, B2B network and market-leading financing services available today, through these joint capabilities.”

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