BasWare Named as Strong Newcomer in eProcurement Solutions by Independent Research Firm.Independent Vendor Evaluation Recognizes BasWare Among Leading eProcurement Vendors Worldwide STAMFORD, Conn. -- BasWare Corporation (HEX:BAS BAS abbr. 1. Bachelor of Agricultural Science 2. Bachelor of Applied Science ), a leading provider of financial automation process solutions, has been recognized as a strong player in eProcurement solutions in the Forrester Wave([TM]): eProcurement Solutions, Q2 2007 report published by Forrester Research Forrester Research is an independent technology and market research company that provides its clients with advice about technology's impact on business and consumers. Corporate facts
The report (available at www.basware.com/research_reports) notes that though a relatively new player in the market, BasWare offers a very strong eProcurement solution. The report further states that BasWare is a strong player in the accounts payable market, and that the company's recently introduced eProcurement solutions have come on strong to the market over the past two years. The report, which ranks products on a scale of 1 to 5, gives BasWare's eProcurement solutions the top score of 5.0 in Goods Purchasing; a score of 4.70 for Reporting capabilities; scores of 4.50 for Settlement and Process Configuration; 4.50 for Process Configuration; and a score of 4.72 for Globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation . BasWare also receives a score of 4.18 for Services Purchasing and 3.38 for Supplier Connectivity and Enablement. The report notes that BasWare's strategy position is strong with an aggressive product roadmap and a wide range of pricing options, as well as good financial resources. The independent report, which is increasingly being used as an essential tool for businesses, provides a detailed review of the eProcurement market. Through a combination of vendor surveys, product demonstrations and client references, Forrester evaluated 14 leading eProcurement solutions vendors across 118 criteria and found that BasWare is a leader in eProcurement solutions for services purchases along with leading vendors, such as Ariba, Oracle, Oracle Enterprise PeopleSoft, and SAP. The report recognizes the company's eProcurement solutions for overall goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. buying and supplier support. "BasWare has long been known for our flagship invoice processing solutions," said Jari Tavi, Chief Technology Officer, BasWare. "The recognition by Forrester for our eProcurement solutions - which were recently added to our enterprise Purchase-to-Pay portfolio - establishes BasWare as a leader for solutions for services purchases in this fast-growing arena. Being cited as a leading vendor among well-known and established eProcurement vendors validates BasWare's role as a complete Enterprise Purchase-to-Pay solutions provider." BasWare also has been previously recognized as a leading vendor in The Forrester Wave(TM:)Accounts Payable EIPP EIPP Electronic Invoice Payment and Presentment EIPP Electronic Invoice Presentment and Payment , Q3 2005 report. The Forrester Wave on eProcurement cites the key role of eProcurement in improving purchasing processes Purchasing Purchasing is the formal process of buying goods and services. The Purchasing Process can vary from one organization to another but there are some key elements that are common throughout The process usually starts with a 'Demand' or requirements in enterprises through automating requisitions and purchase orders for goods and services, decentralizing de·cen·tral·ize v. de·cen·tral·ized, de·cen·tral·iz·ing, de·cen·tral·iz·es v.tr. 1. To distribute the administrative functions or powers of (a central authority) among several local authorities. buying, connecting to suppliers and improving employee compliance with preferred supplier policies. BasWare's procurement solutions are a suite of off-the-shelf applications that include BasWare Purchase Management, Supplier Portal and Catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. Feeder solutions. BasWare Purchase Management enables procurement professionals to efficiently manage the internal procurement process, while streamlining product catalog management. The solution enables plan-based purchasing, which helps organizations create project or campaign-related purchase plans set within pre-agreed budget and catalog criteria. This increases procurement flexibility and automatically introduces procurement cost control and monitoring because only pre-approved products and suppliers can be selected. About BasWare BasWare is the global leader in Enterprise Purchase-to-Pay and Financial Management solutions. More than 500,000 end-users in over 40 countries use its software to automate back-office financial operations to enhance efficiency, gain process control and transparency, and meet compliance requirements Compliance requirements are a series of directives established by United States Federal government agencies that summarize hundreds of Federal laws and regulations applicable to Federal assistance (also known as Federal aid or Federal funds). . BasWare's products are widely used in Shared Service Centers. In 2006, net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight reached approximately $80 million. The growth target for net sales for 2007 is 15 - 20% and will continue to be supported by a growing network of value-added resellers A value-added reseller (VAR) is a company that adds some feature(s) to an existing product(s), then resells it (usually to end-users) as an integrated product or complete "turn-key" solution. . Founded in 1985, BasWare Corporation (HEX:BAS) is a public company listed on the Helsinki Stock Exchange “HEX” redirects here. For other uses, see HEX (disambiguation).
For Wikipedia's help pages, see . . Headquartered in Helsinki, Finland, it has eight subsidiaries in the U.S. and Europe. The BasWare name is a registered trademark of BasWare Corporation. The BasWare logo is a trademark of BasWare Corporation. All other trademarks are the property of their respective companies. |
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