CHARLOTTE, N.C., June 27, 2016 (GLOBE NEWSWIRE) -- Verian, a Basware company and leader in cloud-based purchase-to-pay (P2P) solutions, has been placed highest for ability to execute in the Visionaries quadrant of the Magic Quadrant for Procure-to-Pay Suites by Gartner, Inc.* for the second year in a row.
With deep P2P functionality, Verian's complementary, native solutions in asset and inventory management and travel and expense reporting enable companies to create seamless workflows and achieve greater spend control. Its collaborative approach to P2P - known as WeProcurement(TM) - empowers customers to create a system that employees enjoy using.
Tehseen Dahya, General Manager of North America at Basware says, "Our focus is not just providing a superior system, but also giving customers the ability to harness the "Power of We" for collaboration across their enterprise to change spend behavior, increase engagement, improve processes and reduce risk, which enables them to produce more working capital and achieve strategic goals. That's what sets us apart."
According to Gartner: "P2P suite vendors in the Visionaries quadrant are ahead of most of the competition in developing innovative products and services. They harness the power of Nexus of Forces - mobile, social, cloud and big data - to create unique solutions, and they anticipate emerging/changing market needs. Visionaries in this report, however, are typically too small or regional to make the Leaders quadrant. Visionaries may be a good choice for organizations that want innovation without the big brand or expensive price."
Heidi Murphy, Director of Procurement at YMCA of the Twin Cities comments: "With Verian and WeProcurement, the adoption rate of P2P within our organization surged 30 percent and our savings increased 25 percent over the previous year. Our employees needed more participation in the purchase-to-pay process. Giving them the ability to recommend items and see the savings they were producing created community engagement and even more support for the mission of the YMCA."
Verian was acquired by Basware in April 2016, creating one powerful system for market-leading networked P2P solutions, e-invoicing, and innovative financing services, while helping customers accelerate growth through access to the largest open business network in the world. Basware was also positioned as a Leader in the same report, for the second year in a row.
"We are excited to join forces with an industry visionary," says Esa Tihilä, CEO at Basware. "Both Verian and Basware customers now have the very best in eProcurement and Accounts Payable automation technology and the world's largest commerce and financing network at their fingertips - we're looking forward to what we will accomplish together in the future."
Gartner defines procure-to-pay suites as delivering four primary capabilities - e-purchasing, catalog management, e-invoicing and Accounts Payable Invoice Automation (APIA) - for inclusion in the 2016 Magic Quadrant for Procure-to-Pay Suites. The report evaluated 12 different software vendors and positioned Verian in the Visionaries quadrant and Basware in the Leaders quadrant.
*Gartner Magic Quadrant for Procure-to-Pay Suites by Deborah R Wilson, Paolo Malinverno, Magnus Bergfors, Desere Edwards, June 13, 2016.
Download the report: www.basware.com/knowledge-center/procure-to-pay-gartner-magic-quadrant
Read about Basware's acquisition of Verian: www.basware.com/about-us/news/basware-acquires-verian-a-leading-cloud-based-purchase-to-pay-solution-provider-in-the-us
Find out more about Basware Purchase-to-Pay: www.basware.com/solutions/purchase-to-pay
To learn more about Verian, visit Verian.com, Basware.com, or download the eBook: "WeProcurement: Putting the We in eProcurement."
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Verian, a Basware company
Verian's mission is to make people's lives easier and their work more valuable. As part of the Basware family, the company accomplishes this by offering market-leading networked Purchase-to-Pay solutions, e-invoicing, and innovative financing services. As the largest open business network in the world, we connect businesses in over 100 countries and territories around the globe, enabling these organizations to grow and unlock value across their operations. Small and large companies around the world achieve visibility and control over spending, significant cost savings, more flexible payment terms, greater efficiencies and closer relationships with their suppliers by simplifying and streamlining financial processes.
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 over 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. Find out more at www.basware.com.
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