ESPOO, Finland – Basware, the global provider of networked purchase-to-pay solutions, e-invoicing and innovative financing services, is launching Marketplace, a global catalogue management tool on the Basware Network. Marketplace facilitates stronger buyer-supplier relationships by allowing private and public sector organisations across the world to access negotiated supplier contracts, browse available products and services with a consumer-like shopping experience, and place orders directly with suppliers.
Following a great success in the UK, with multiple active buying communities on the platform, Marketplace will expand to other countries around the world and become available to over 1 million businesses on the Basware Network already streamlining their procurement process and managing their financial supply chain. By using the same intuitive platform to connect purchase-to-pay (P2P) and order-to-cash (O2C) processes, both buyers and their suppliers will form more collaborative and mutually beneficial relationships as a foundation for sustainable growth of their businesses.
Ilari Nurmi, SVP, Purchase-to-Pay at Basware, explains: “As international procurement processes increasingly depend on strong buyer-supplier relationships, built on mutual trust and reliability, business networks are becoming more important than ever before. Marketplace helps organisations create and nurture these essential relationships with their suppliers, and vice versa. After years of collaboration with our customers in the UK, we are excited to bring Marketplace to organisations around the world, enabling them to build deeper, stronger and transparent relationships that will fuel mutual success.”
Marketplace connects suppliers with all of their customers on the Basware Network allowing them to easily upload catalogue content with “upload once, use for all” approach and then manage customer specific price lists and discounts, and reduce their cost of doing business by ensuring their customers are ordering with accurate product and price information. It also allows suppliers to sell more by becoming the partner of choice as they are receiving more orders directly from the buyer’s e-procurement solution.
Buyers across the globe can effectively access the Marketplace within their Basware Purchase-to-Pay solution, or from any other e-Procurement or ERP solution, extracting better value from sourced supplier contracts for greater savings. Buyers can also reduce manual work in reviewing price changes and placing purchase orders (POs). Marketplace ensures greater spend under management by providing employees views to access the right items, at the right price, with a consumer-style e-commerce shopping experience for negotiated products and services.
As result, Marketplace provides buyers and suppliers with new opportunities to connect and a place to grow their business.