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Basware

FOUNDED : 1985

LOCATION : Europe, Finland

TEAM SIZE : 1001-5000

SOLUTION MATURITY : Stalwart

FUNDING ROUND : Acquired by an investment consortium led by Accel-KKR in June 2022

Core functionality
Classic P2P and S2P
Additional functionality
P2P: Accounts Payable Automation
S2P: E-Procurement
Source / Procure-to-Pay (S2P and P2P)
Description

Basware advertises itself as ‘the largest open business network in the world”. It is a large international business located in Finland and providing a range of procurement solutions, focusing on the procure-to-pay (P2P) space and accounts payable automation.

Apart from its large marketplace and networking system, it offers full workflow automation covering P2P and AP management. Basware also provides a powerful, ML-based analytics algorithm.

Additionally, Basware provides several optional solutions, including a Dynamic Discount explorer and special solutions for mid-sized businesses, supplier management, working capital optimization, and T&E management.

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