Gartner named Basware a Leader in the 2018 Magic Quadrant for Procure-to-Pay Suites for the third time. Read on for a demystification of the Gartner Magic Quadrant evaluation process.
I’m not sure why it’s called the Gartner Magic Quadrant, but I am sure that there’s no magic behind our recognition as a Leader. In my role as Senior Analyst Relations Manager, I have the unique opportunity to interface with nearly every aspect of our global business from research and development to product management to customer support to sales and marketing, and I can tell you our success boils down to 2 things – we’re 100% obsessed with customer success and we work hard to deliver.
Gartner evaluates procure-to-pay solution providers by assessing solution capabilities and interviewing customers. We feel they are looking to understand how solution providers appeal to CPOs, CFOs and CIOs and how the product meets the needs of those key stakeholders. Gartner first issues an online survey and then talks to two different customers verbally for each provider.
Gartner uses surveys, customer interviews and extensive solution demos, to evaluate the provider’s vision and their ability to execute on that vision by bringing innovation to life within the product.
Through our experience with the process, we believe that the following capabilities are being assessed:
Core procure-to-pay functionality from e-procurement through ok-to-pay
Global deployment suitability to maximise the value across the world
Platform capabilities like mobile features
AI & machine learning and smart technology applications
Integration to ERPs and other back-office systems
e-Invoicing sophistication and network reach
Customer support and implementation aspects
Packaged analytics
Supplier information management tools
Source-to-settle solution integrations
Personal consumable workstream support for configuring complex workflows
Requisition MRO workstream support to automate more processes
Contingent work force procurement to automate the requesting of labor
SOW services governance and procurement
Direct order support
Travel & expense capabilities to capture more enterprise spending
Supply chain finance to support cash flow management
Based on the information contained in the 2018 Gartner Magic Quadrant for Procure-to-Pay Suites, we believe our 30+ years of industry expertise, strategic vertical approach, market-leading products and obsession with customer success landed us in the Leaders’ quadrant for the third time.
Our number one goal as a company is customer success. We empower customers to simplify operations and spend smarter to reach competitive agility by getting 100% spend visibility through on-boarding 100% of suppliers, capturing 100% of invoices and achieving 100% user adoption of e-procurement.
So, I think it’s important to call out four areas that Gartner commented on in the report that best demonstrate our 100% promise:
Global deployment suitability to connect, streamline and strengthen operations with ease for enterprises across the world, helping them collect 100% of financial data from all locations
World-class products that enable organisations to capture 100% of invoices and achieve 100% user adoption of e-procurement to leverage the power of their financial data and create a competitive advantage
Ease of integration using standard APIs and tools so companies can easily connect the solutions they already have for more visibility and value
An extensive global e-invoicing network that connects small and large businesses world-wide to on-board 100% of suppliers.
Read the press release for more details on the 2018 Gartner Magic Quadrant for Procure-to-Pay Suites and stay tuned for the full report that will be available soon. In the meantime, feel free to contact us – we’re here to help!
Gartner Inc., Magic Quadrant for Procure-to-Pay Suites, Desere Edwards, William McNeill, Magnus Bergfors, Patrick M Connaughton, Kaitlynn N. Sommers, May 29, 2018.
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