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2020-08-18

Basware Adds Sievo to its Application Partner Ecosystem

Espoo, Finland - 18 August 2020 - Basware (https://www.basware.com/en-gb/news/) (Nasdaq: BAS1V) announces the addition of a leading procurement analytics SaaS company to its partner ecosystem. Sievo's technology will provide Basware customers with additional complementary specialist services to Basware's existing procure-to-pay suite.

"Last year Basware moved forward with a new strategy that addressed the entire source-to-pay ecosystem," said Sami Peltonen, VP P2P Solutions, Basware. "Business analysts have widely acknowledged that a single end-to-end solution falls far short of perfection in the complex enterprise P2P ecosystem - no one provider does it all. By bringing on application partners that are best-of-breed, Basware can offer customers exactly what they need in a holistic ecosystem that offers the best of the best."

Basware launched its application partner program last year. Supported by API-based architecture, customers can manage suppliers and spend in Basware's core platforms, while capitalizing on complementary specialist services.

Established in Finland in 2004, Sievo offers spend analysis, savings lifecycle, spend forecasting, contract management, procurement benchmarking and 3[rd] party data enrichment solutions.

"We are pleased to bring our expertise to the Basware ecosystem," said Sammeli Sammalkorpi, CEO of Sievo. "We share the same vision with Basware that best-of-breed specialists are needed to get the best functionalities within each source-to-pay domain. Sievo can seamlessly integrate Basware data into its analytics platform to provide AI-powered insights to end users."

Application partnerships allow customers to gain 100% spend visibility by utilizing Basware as their single, primary spend management provider, augmented by seamlessly integrated partner solutions, providing greater flexibility and depth. Since Basware customers typically collect 100% of their invoices within Basware's AP automation solution, that means 100% of their supplier spend is also collected and processed within Basware. The invoice data in this "hub" becomes critical to business performance, supplier performance and future strategic spend management decisions.

To learn more about Basware's enhanced API architecture and how it will change the landscape in the future, read here (https://www.basware.com/en-gb/blog/august-2019/new-alliances-for-business-success/).

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