17 Sep Buyers to benefit from blend of Basware and BravoSolution
Please forgive the contrived alliteration but it had to be done.
Today, Basware and Bravo solutions announced a partnership that appears to create a powerful synergy from their individual strengths. Both best-in-class P2P solution providers. BravoSolutions’ key strengths are in spend analysis and eSourcing while Basware are best recognized for their supplier network and the application suite aimed at automating procurement and AP. By combining both technologies the pair believe that they can “extend the value delivered to customers and plug the ‘savings gap.”
The press release issued today explains the detail: “The combination of industry-leading supply management, P2P and e-invoicing services helps companies ensure that the value created through supplier relationship management is realised across the operational purchasing process. Upon completion of a strategic sourcing initiative, the resulting contractual agreement can proactively be managed across its entire lifecycle and activated across the business by empowering all end users with easy, consumer-style purchasing systems to ensure preferred suppliers are used and negotiated savings realised.“
“This strategic alliance is focused on releasing the potential value of strategic sourcing through best-in-class operational purchase-to-pay solutions,” said Esa Tihilä, CEO of Basware. “The partnership offers customers packaged integration points between the solutions to deliver seamless processes across source-to-pay, for example for such customers like our key client Finnair. We are focused on bringing about better buying solutions and services to a joint customer base, building on our existing and impressive traction in key regions across the globe.”
“Finnair has collaborated with Basware for many years in invoice processing and payment solutions, and is also currently implementing the complete Basware Purchase to Pay suite. As a next phase of this collaboration, Finnair is pleased to confirm that it is implementing BravoSolution’s strategic sourcing solution to form an integrated Source-to-Pay solution based on the announced global partnership between Basware and BravoSolution,” said Jari Huhtinen, Vice President, Procurement, Finnair Plc.
”The global recession may be showing signs of coming to an end, but companies are continuing to rely on procurement to deliver significant, sustainable savings – and in turn, make a clear impact on profit margins and profitable growth,” said Nader Sabbaghian, CEO of BravoSolution. “Through our partnership with Basware we are now able to help procurement and finance teams to work better together to ensure negotiated savings and value are realised right across the business – even after the contracts are signed.”