Basware: Streamlining Procurement Process via Purchase-to-Pay Suite

Esa Tihilä, CEO
An effective adoption of e-Procurement solutions enables the organizations to cut cost and increase efficiency. Though this technology delivers a range of benefits, many enterprises today are exhibiting great deal of reluctance to adopt e-Procurement due to lack of robust platforms. Basware, a Stamford, CT, based company empowers organizations to untangle the complexities around the adoption of e-Procurement by delivering open, secure, cloud-based Purchase-to-Pay (P2P) and e-invoicing solutions. “Our company assists customers to successfully adopt e-Procurement solutions with our user friendly solutions,” says Esa Tihilä, CEO, Basware. “We transform purchasing into an easy shopping experience that rivals the best of consumer sites, promises resilient end-user adoption and therefore increases overall return on investment.”

Basware’s services span across various industries from oil and gas to automotive and civil administrations. The company has garnered strong acclamation for its solution, Basware Procurement. This particular solution assists customers to enhance their efficiency by streamlining the purchasing process through its mobile-enabled and automated purchase requisition and ordering workflows. Since the purchasing process is simpler and user-centric, Basware increases end-user adoption, employee satisfaction, and spend compliance through its e-Procurement solution. Besides, the company also helps the customers to benefit from actionable insights into purchase to pay processes by keeping a track on spend over category, supplier, organization and location. Furthermore, Basware delivers a robust platform for the buyers and suppliers to exchange electronic catalogs content and increase contract compliance. Alongside delivering the solutions for e-Procurement, Basware’s Purchase-to-Pay suite has received humungous attention in global markets by delivering sophisticated Purchase-to-Pay solution for indirect procurement. The company’s cloud-based Purchase-to-Pay solution offers an unparalleled end-to-end visibility and control over the entire procurement process. The customers can improve external collaboration with suppliers and enhance organizational effectiveness. Purchase-to-Pay suite covers the entire process of supply chain from helping the customers to gain complete spend visibility to sourcing, contracting, procurement, E-invoicing, invoice processing, matching, and payment.

With a proven track record in the industry, Basware has assisted myriad of organizations to streamline their purchasing processes.
“We enable organizations to unlock new efficiencies, improve visibility and take control of their costs. As a result, they are able to liberate their cash flows and explore the possibilities of real-time economies,” says Tihilä. In an implementation highlight, a limited corporation of Finnish Civil Aviation Administration, Finavia had a decentralized procurement system which increased their process costs. The customer needed to adopt an e-Procurement system to support centralized Purchase-to-Pay solution. They found that gaining complete transparency in procurement process was difficult. Basware helped them solve their problem through its solution, Basware Procurement which enabled the customer to make 80 percent of their purchases through e-Procurement where the product catalogs were displayed by the preferred suppliers. Additionally the customer gained complete visibility across supply chain through Basware’s Purchase-to-Pay suite. “We were able to carry out centralized procurement operations unambiguously, and with Basware P2P system we ensured that the procurement function has all the tools it needs for the continuous development of operations,” says Sanna Valkeinen, System Specialist at Finavia.


we transform purchasing into an easy shopping experience that rivals the best of consumer sites, promises resilient end-user adoption and therefore increases overall return on investment


After having a well-established portfolio of Purchase-to-Pay solution, Basware is now planning to provide an innovative edge to its e-invoicing solution by adding new financing services. Additionally, the company is aiming to improvise the efficiency of its products and processes such as e-invoicing and e-Procurement by making it available on cloud. “We have a well-defined strategy to make our services available through digital channels, as well as maintaining global market leadership in Purchase-to-Pay solutions,” concludes Tihilä.

Company
Basware

Headquarters
Stamford, CT

Management
Esa Tihilä, CEO

Description
Provider of purchase-to-pay and e-invoicing solutions with a strong commerce network.

Whitepapers of Basware