Our History of Innovation

We know a thing or two about innovation because we invented the AP automation industry.

Global innovation is built into our company DNA – see how we’ve evolved

2021

  • Launch: Partner Center of Excellence to enable world-class partner implementations

  • Launch: Supplier Management solution adds diversity data, allowing customers to identify minority-owned and small business suppliers

  • Award: Basware awarded Green Supply Chain Award for second year running and increases scores in CDP Reporting

2020

  • Launch: Spend Insights Dashboard to provide visual, single view of entire spend & cost-cutting recommendations 

  • Launch: SmartPDF evolution, now captures invoice data automatically via Artificial Intelligence

  • Launch: Sustainability Dashboard enabling companies to monitor carbon footprint of invoices

2019

  • Launch: Basware can provide actionable insights to manage KPIs and workloads in AP departments and financial shared service centers

  • Launch: SmartOrders service advances collaboration between buyers and suppliers in the procurement process via actionable emails

2018

  • Launch: SmartPDF service easily turns email-based invoices from suppliers into true electronic invoices

  • Launch: Committed spend analytics include 100% of spend, both direct and indirect, based on purchase orders, payment plans and non-PO invoices providing both retrospective and future views into spend

2017

  • Launch: Basware analytics with the peer benchmarking capabilities enables users to track their performance against their peers

  • Launch: SmartCoding helps organizations further automate their invoice processing of non-PO invoices through machine learning

2016

  • Launch: Marketplace an advanced catalogue management solution for private and public sector

  • Launch: Collaborative e-procurement solution that engages employees to drive cost savings

  • Acquisition: Verian, a leading cloud-based purchase-to-pay solution provider in the US

2015

  • Acquisition: Procserve, the UK's leading e-procurement solution provider for the public sector

2014

  • Launch: Basware's first value-added services on the Basware Network, Financing Services portfolio

2013

  • Acquisition: Certipost, the leading e-invoice operator in the Benelux

2012

  • Launch: Alusta, the cloud-based B2B platform for transaction collaboration on Basware's Network

  • Acquisition: First Businesspost , the German e-invoicing operator

2009

  • Acquisition: Itella, a specialist invoice automation company

2008

  • Acquisitions: TAG Services and Contempus

2007

  • Acquisition: Digital Vision Technologies and its data capture expertise

2006

  • Acquisition: Analyste, a leading payment software company

2005

  • Launch: Fully integrated Purchase-to-Pay solution suite

2000

  • Launch: Basware listed on Helsinki Nasdaq – Trading code BAS1V

  • Launch: purchase management software and e-invoicing service

1992

  • Launch: first financial management software

1985

  • Launch: Basware founded in Finland

Industry recognition

Basware has been recognized by multiple industry analysts for our suite of business solutions, product innovations, flexibility, integration capabilities, and more. This reassures our place in the market as a P2P technology leader.

See what leading, global analysts have to say about Basware solutions.

Gartner

Gartner is a leading research and advisory company that provides senior leaders with business, technology, and management insights. Since 1979, they have worked alongside client to serve leaders across all major enterprise functions. Here are the accolades Basware has received from Gartner:

  • Recognized as a 2023 Gartner Peer Insights™ Customers’ Choice for Procure-to-Pay Suites
  • Leading rating for AP Automation in the 2021 and 2022 Gartner Critical Capabilities P2P Suites report
  • Second highest vendor score for Finance Focused use case in the Gartner 2021 and 2022 Gartner Critical Capabilities Procure to Pay Suites report
  • Ranked Visionary in the Gartner 2020, 2021 and 2022 Magic Quadrant for Procure to Pay Suites report
  • High scores for use cases and capabilities in The Gartner 2020 Critical Capabilities for Procure to Pay Suites report
  • Leader in the 2019 Gartner Magic Quadrant for Procure to Pay Suites report
  • High scores for use cases and capabilities in The Gartner 2019 Critical Capabilities for Procure to Pay Suites report
  • Leader in the 2018 Gartner Magic Quadrant Leader for Procure to Pay Suites report
  • Leader in the 2016 Gartner Magic Quadrant Leader in Procure to Pay Suites report
  • Leader in the Gartner 2016 Technology Insight Representative Provider in procurement networks
  • Leader in the Gartner 2015 Magic Quadrant Leader for Procure to Pay Suites report for Indirect Procurement

Forrester Research

Forrester’s research is rooted in customer feedback. In their findings, they help organizations understand business trends, learn how these trends affect operations, and provide guidance on building a strategy. Basware has been recognized in the following Forrester reports:

  • Forrester Total Economic Impact 2021 study determines businesses can capture AP productivity gains and 315% ROI
  • Leader in the Forrester Wave: eProcurement Platforms, Q4 2019 with top scores for product strategy, globalization, and invoice processing
  • Positioned as one of the largest cross-industry supplier networks in the Forrester 2016 Vendor Landscape: B2B Business Networks

International Data Corporation (IDC)

Founded in 1964, IDC is the premier global provider of market intelligence, advisory services, and events. With a strong team of over 1,100 analysts from around the world, IDC’s research and analysis helps executives and IT leaders achieve their strategic business decisions. Basware has been recognized by IDC in the following report:

  • Leader in the IDC Marketscape: Worldwide SaaS and Cloud-Enabled P2P Applications 2021 Vendor Assessment
  • Leader in the IDC Marketscape: Worldwide SaaS and Cloud-Enabled Accounts Payable Applications 2019 Vendor Assessment
  • Leader in the Worldwide SaaS and Cloud-Enabled Accounts Payable Applications 2019 Vendor Assessment

Spend Matters

The collective Spend Matters sites are the largest and most influential voices in the procurement sector. With an expansive team of experts covering a range of procurement topics, Spend Matters provides a global content community for a range of procurement and supply chain trends. Basware has been recognized by Spend Matters for the following: 

  • Basware named a 50 to Know provider for eighth consecutive year 
  • Extremely high in the AP Automation/Invoice-to-Pay category earning “top tier” rankings in 7 out of the 10 functionalities in the fall 2021 Spend Matters SolutionMap
  • Recognized as AP Automation, P2P and E-Procurement value leader in Spend Matters SolutionMaps
  • Value leader for all buyer personas in the Q2 2019 Solution Map for P2P 
  • 2016 listing in 50 Providers to Know

Ardent

Ardent Partners is a research and advisory firm with a focus on advancements in supply management, processes, and technologies. They are significant voices in the supply chain field and help business executives evaluate industry best practices and select best-fit solutions for their organization. Basware was recognized by Ardent Partners in the following:

  • Best in Class in the 2019 ePayables Technology Advisor and #1 in Solution Strength and Invoice Process

Levell Research

Levell Research is a research and advisory firm that provides the latest research on process automation for finance and procurement professionals. Their goal is to deliver unbiased content created to challenge, inform, and empower readers with the latest information on transformative procurement and finance innovations. Basware was recognized by Levell Research for the following:

  • 2016 received the highest score for Adaptability in the Procure-to-Pay Navigator report
  • 2016 e-procurement solutions named Innovative Procurement Technology of the Year at Innovate Awards