Basware Awarded Procurement Technology of the Year by PayStream Advisors

STAMFORD, Conn., Oct. 26, 2016 – Basware, the global leader in networked purchase-to-pay (P2P) solutions, e-invoicing and innovative financing services, today announced that its e-procurement solutions were recognized as the Innovative Procurement Technology of the Year by research and advisory firm PayStream Advisors in its annual Innovate Awards. Basware will receive official recognition for this award at a ceremony taking place during the IOFM Accounts Payable and Procure to Pay Conference & Expo at Caesars Palace, Las Vegas, Oct. 24-26-2016.

PayStream Advisors Innovate Awards highlight the year’s stand-out innovative technologies in Accounts Payable (AP) and Purchase to Pay. Winners are closely selected among dynamic P2P solutions providers in key categories.

“Basware’s procurement technology continues to include industry leading functionality. This award was based on recent advancements in its products, including its extensive investment in a spend reporting and analysis tool," said Jimmy LeFever, Director, Research & Consulting, PayStream Advisors.

“We’re pleased to be given this recognition by PayStream Advisors for our industry-leading e-procurement solutions,” said Eric Wilson, Basware’s VP of purchase-to-pay for North America and APAC.  “We continuously work to build in new functionality through key capabilities, such as our spend reporting and analytics, and we look forward to continuing to further our innovation, which enables companies around the world to realize greater spend management, visibility, and control.”

Basware’s family of e-procurement solutions offers an end-user experience inspired by the most intuitive consumer e-commerce sites within a globally scalable and comprehensive purchase-to-pay solution. The solutions deliver benefits that go beyond savings and purchasing compliance by also improving supplier relationships and creating a culture of spend stewardship. 

Basware e-procurement solutions are based on a collaborative approach to purchasing — known as WeProcurement—which empowers customers to create a system that employees enjoy using, enabling everyone to work together toward company goals. This innovative approach to procurement saves money, reduces risk, and optimizes working capital across the spend ecosystem.

The solutions are a key component in Basware’s full family of purchase-to-pay solutions, enabling seamless workflows, greater visibility, and control and optimal management of cash, spend and working capital. This end-to-end automation approach allows companies to break down silos, communicate with suppliers and leverage data, insights and synergies among the various P2P functions—from procurement and travel and expense management to invoice automation, e-invoicing, and strategic payment.

About PayStream Advisors

Founded in 2001, PayStream Advisors is a research and advisory firm that delivers first-rate industry research on office process automation for finance and procurement professionals. PayStream provides research-based, unbiased educational content to challenge readers’ thinking, inform them about marketplace trends, and empower them to transform their organizations. The firm’s targeted research publications, consulting services, process enhancement workshops, webinars, and conferences are designed to address the unique needs of finance professionals in a continually evolving technology landscape. PayStream’s research is available on demand for members, and membership is completely free.

About Basware

Basware is the global leader in providing networked purchase-to-pay solutions, e-invoicing, and innovative financing services. Basware’s commerce and financing network connects businesses in more than 100 countries and territories around the globe. As the largest open business network in the world, Basware provides scale and reach for organizations of all sizes, enabling them to grow their business and unlock value across their operations by simplifying and streamlining financial processes. Small and large companies around the world achieve significant cost savings, more flexible payment terms, greater efficiencies and closer relationships with their suppliers. The company’s North American business, Basware, Inc., is headquartered in Stamford, Conn.  Find out more at www.basware.com.

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