Espoo, Finland - Dec. 10, 2019 - Basware (BAS1V) is named a Leader in "The Forrester Wave™: eProcurement, Q4 2019" report by Forrester Research, Inc., with the top scores in the product strategy, globalization and invoice processing criteria.
With regards to product strategy, the report noted that the Basware solution includes many innovative uses of AI, such as an algorithm to estimate the probability of a requisition getting through the approval process.
"We believe receiving the highest score in the product strategy criterion reflects our future-proofing mindset," states Klaus Andersen, CEO, Basware. "We promise 100% spend visibility, so with that comes a commitment to understanding customers' business challenges; monitoring industry trends; and leveraging cutting-edge technology so we continue to deliver on that promise. We are in an exciting time where data is set to not only upend finance departments, but also do wonders for them. As such, our team is constantly working to ensure our product strategy transforms these data opportunities into reality."
Basware, which is widely known for its ease of global deployment, also received the highest score possible in the globalization criterion, as well as in the invoice digitalization and invoice validation criteria. According to the report, Basware is a leading choice for CPOs and CFOs who aim at achieving 90% or more process automation across their procure-to-pay (P2P) spend, including simple and complex categories. The company excels at automating capture and processing of many different types of invoices, including milestone, time, and periodic billing.
The report is a comprehensive evaluation of P2P platforms. Forrester identified and evaluated the 12 most significant providers through a combination of questionnaires, product demonstrations and discussions with client references for the report. The vendors were then scored against a comprehensive set of 31 evaluation criteria, including current offering, strategy and market presence.
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Basware is the only procure-to-pay and e-invoicing solution provider that empowers businesses with 100% spend visibility through 100% data capture. Our cloud-based technology enables organizations to fully manage their spend, mitigate financial risk and reduce the cost of operations via automation. With the world's largest open business network and an open technology ecosystem, we are uniquely positioned to deliver the solution required for Visible Commerce, which provides customers with complete transparency into all the flows of money, goods, and services around the world. A global company, Basware has offices in 14 countries and is traded on the Helsinki exchange (BAS1V: HE).
More information about Basware is available at www.basware.com.
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