Basware Adds Sievo to its Application Partner Ecosystem

Leader in Spend Analysis Complements P2P Suite

ESPOO, Finland–(BUSINESS WIRE)–#P2P—Basware (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.

About Basware:

Basware is the only procure-to-pay and e-invoicing solution provider that empowers businesses with 100% spend visibility through 100% data capture. Our cloud-based technology enables organizations to fully manage their spend, mitigate financial risk and reduce the cost of operations via automation. With the world’s largest open business network and an open technology ecosystem, we are uniquely positioned to deliver the solution required for Visible Commerce, which provides customers with complete transparency into all the flows of money, goods, and services around the world. A global company, Basware has offices in 14 countries and is traded on the Helsinki exchange (BAS1V: HE).

More information about Basware is available at www.basware.com.

About Sievo

Sievo helps businesses turn procurement data into dollars. By consolidating all procurement related data under one information hub, Sievo uncovers hidden value and provides insights for data-driven decisions. With AI-driven classification and data-driven external benchmarking, Sievo provides the leading procurement analytics solution powering procurement organizations worldwide. More information about Sievo is available at Sievo.com.