09 May Basware Introduce S2P capability
Today, Basware announced that its Purchase-to-Pay (P2P) solution is strengthened with a new strategic sourcing offering, providing customers with a full one-stop shop for the entire Source-to-Pay (S2P). Through easy-to-use solutions for source-to-pay, Basware claims to deliver its customers and their suppliers full end-to-end capabilities for realizing savings, increasing contract compliance and reducing sourcing leakages.
According to their press release, Basware Strategic Sourcing makes it easy to quickly identify, evaluate and select the right suppliers for a variety of business needs. Sourcing teams are more efficient and compliant in conducting sourcing events with a library of templates, sample questions and automated bid scoring with various evaluation formats, so they can focus on collaborating with key suppliers and driving more value for the business. By leveraging spend analytics from the P2P system for direct and indirect spending, sourcing and procurement teams are also equipped to right-size their supply base and negotiate favorable contracts.
Ilari Nurmi, SVP, Purchase to Pay at Basware, explains: “As Basware is already a well-recognized global market leader in Purchase-to-Pay, strategic sourcing is the next logical step to provide to our customers. Basware’s unique ability to achieve 100% user adoption of e-procurement with WeProcurement™ approach, 100% supplier on-boarding to the Basware Network and 100% spend capture creates a complete data set for our customers, and we want to empower them with more ways to use that information to their advantage.”
Ken Vanhoegaerden, Regional Supply Chain and Procurement Director, ISS World Services, says: “ISS has collaborated with Basware for many years to automate and increase both control and transparency across the purchase-to-pay process, and enhance supplier relationships with catalogues, e-orders and e-invoices. We are excited about the additional value strategic sourcing can provide us by forming a holistic source-to-pay process.”
Basware as an one-stop shop for the entire S2P process includes a collaborative e-sourcing solution, with agile eRFx and eAuction tools. The solution is augmented with Supply Base Management and Contract Management tools, making it easy to create contracts directly from sourcing events and turn them into electronic product catalogues within the e-procurement system. As a result, procurement teams are enabled to realize the negotiated savings and extract more value from the supply chain.
Basware Strategic Sourcing enables significant efficiency and a faster time-to-value, as well as reduced supply chain risk. By transacting with suppliers over the Basware Network, organizations will be able to easily keep supplier and contract information up-to-date, facilitate open communication with suppliers and achieve transparency to better manage relationships. Both buyers and their suppliers will form more collaborative and mutually beneficial partnerships as a foundation for sustainable growth of their businesses.