Tuesday 17th September, 2013

Basware has announced that it's joined forces with BravoSolution, an independent supply management and spend analysis provider with the aim of creating a comprehensive source-to-pay (S2P) solution. Both companies pride themselves on offering best-in-class technology and consulting solutions and this new collaboration points to deeper involvement across the source-to-pay process. BravoSolution’s offering delivers businesses with strategic supply management value through a combination of spend analysis, eSourcing, contract management and vendor management solutions.

Basware’s Purchase to Pay solution and Basware Commerce Network focus on the automation of procurement and accounts payable processes, and the maximisation of spend under management. By combining both technologies and process expertise, the partnership can extend the value delivered to customers and plug the 'savings gap', a common issue in which value leaks from negotiated supplier contracts due to non-compliance in the corporate purchasing process.

"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 effective creation and management of contract and catalog content are examples of key integration points for the partnership. The integration allows contracts strategically sourced in BravoSolution to become operational in the purchase-to-pay process through Basware – thereby ensuring the value contracted through strategic sourcing is seamlessly carried through to a compliant purchasing process. Another example is the in-built connectivity of the joint offering to the Basware Commerce Network, the world’s largest open commerce network for P2P transactions, allowing buyers to easily identify, engage and transact across a global network of over 900,000 actively trading companies from over 100 countries, with annual spend through the network being more than $420 billion.

”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 realized right across the business – even after the contracts are signed."