Basware
Automating Purchase-To-Pay Process

Why e-Procurement solutions or why not e-Procurement solutions? If the thought of adopting an effective e-Procurement solution ever perforated into your mind as a CIO of a company, you are not alone. Today, many purchase managers believe that e-procurement solutions are becoming more evident and understanding its various uses can render great results for organizations. The most prominent reason companies deploy e-procurement solutions are to increase productivity, spend visibility, and provide a viable platform for users to get the supplies they needed. Though this technology renders a gamut of benefits, it has not been an easy road for business managers to implement e-Procurement solutions, as it brings reluctance and complexity during the adoption process. 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.

The Basware uniqueness

“We provide user-friendly e-Procurement solutions to assist our customers in unlocking new opportunity in their operations by streamlining and simplifying the financial processes,” says Esa Tihilä, CEO, Basware. “We have transformed purchasing into a viable shopping experience that rivals the best of consumer sites, promises resilient end-user adoption increasing overall return on investment.”

"We have transformed purchasing into a viable shopping experience that rivals the best of consumer sites, promises resilient end-user adoption, increasing 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 more straightforward 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 the 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 providing the solutions for e-Procurement, Basware’s Purchase-to-Pay suite has received humungous attention in global markets by delivering a 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. The purchase-to-pay suite covers the whole process of the 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 the myriad of organizations in streamlining their purchasing processes. “We enable organizations to unlock new efficiencies, improve visibility, and take control of their costs. As a result, they can 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 preferred suppliers displayed the product catalogs. 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.

Referring to one other successful project, Tihilä highlights how the firm assisted one of its clients U.S.-based to control its spending to 50 percent. The client was initially having zero percent control over the expenditure with each employee wielding a P-card to purchase goods and services. They were in need of a solution that was more convenient than a P-card and can edify the employees about cost-optimization for attaining the companies’ goals. Basware deployed its WeProcurement approach to promote stewardship over organizational funds through a platform is feasible to use and can take them towards the organization goals. The Director of the U.S. based client proudly asserts, “With WeProcurement, our adoption rate surged 30 percent, and our savings increased 25 percent over the previous year. Our employees needed more participation in the procurement process, and giving them the ability to recommend items and see the savings they were producing created community engagement.”

The Days Ahead

After having a well-established portfolio of the Purchase-to-Pay solution, the Chicago based firm now intends to provide an innovative edge to its e-invoicing solution by adding new financing services. Moreover, Basware also aims to improvise the efficacy of its products and processes such as e-invoicing and e-Procurement by making it available on the cloud. “We are continually working to maintain our global status as a leader in yielding Purchase-to-Pay solutions through fine-tuning our strategies and make our services available through the digital channels,” concludes Tihilä.