Basware P2P Reviews & Pricing

by Basware | Founded 1985, Espoo, Finland

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Overview Pricing Benefits Reviews Features

Categories:

Procurement Software
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What is Basware P2P?

Industry Specialties: Serves all industries.

Basware P2P automates various procurement tasks, centralizing invoice processing, supplier management, and spend visibility. Its user-friendly interface streamlines purchase order creation, approval workflows, and invoice matching, reducing manual work and errors. Basware P2P caters to organizations seeking to optimize procurement processes and gain real-time financial insights. Key benefits include improved efficiency, reduced costs, and strengthened supplier relationships. Popular features include automated invoice capture, real-time reporting, and e-invoicing capabilities. User reviews praise Basware P2P's ease of use, scalability, and positive impact on procurement operations. Pricing typically depends on the number of users and required modules, ranging from per-user subscriptions to tiered pricing models.

Pros:

Streamlined workflows
Reduced paper handling
Faster invoice processing
Improved visibility
Strong supplier network

Cons:

High initial cost
Steep learning curve
Limited customization
Potential integration issues
Occasional platform freezes

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COMPANY SIZE

DEPLOYMENT

PLATFORM

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#5

Basware P2P is ranked #5 on the top 10 Procurement Software leaderboard based on a comprehensive analysis performed by SelectHub research analysts. Compare the leaders with our In-Depth Report.

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Basware P2P Pricing

Based on our most recent analysis, Basware P2P pricing starts at $15,000 (Per Invoice Transaction, Annually).

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Starting From: $15,000
Pricing Model: Per Invoice Transaction, Annually
Free Trial: No

Training Resources

Basware P2P is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for Basware P2P:

Email
Phone
Chat
FAQ
Forum
Help Desk
Knowledge Base
Tickets
Training
24/7 Live Support

Basware P2P Benefits and Insights

Why use Basware P2P?

Key differentiators & advantages of Basware P2P

Cost savings: Automate tasks, eliminate manual errors, and optimize spend visibility to reduce procurement costs.
Efficiency gains: Streamline workflows, shorten invoice processing times, and boost team productivity with centralized P2P operations.
Enhanced supplier relationships: Improve communication, simplify collaboration, and strengthen partnerships through automated processes and real-time data sharing.
Risk mitigation: Ensure compliance with regulations, safeguard against fraud, and gain control over spending with robust security measures and audit trails.
Data-driven decisions: Leverage powerful analytics and reporting tools to gain insights into spending patterns, identify cost reduction opportunities, and make informed procurement decisions.
Scalability and adaptability: Easily accommodate business growth, integrate with existing systems, and adapt to changing procurement needs with a flexible and scalable platform.
Sustainability focus: Minimize paper usage, automate processes, and contribute to a more sustainable future through digital procurement practices.

Industry Expertise

While Basware P2P excels across industries, its expertise shines in complex and highly regulated sectors like healthcare, manufacturing, and government. Its robust compliance tools and industry-specific integrations ensure seamless adaptation to unique regulations and workflows, optimizing procurement processes for specific needs and minimizing risk.

Synopsis of User Ratings and Reviews

Based on an aggregate of Basware P2P reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

Streamlined workflows: Automates tasks like PO matching, invoice capture, and approvals, saving time and reducing errors.
Improved visibility: Provides real-time spend data and customizable reports for better decision-making and cost control.
Enhanced supplier relationships: Self-service portals and faster payments improve communication and collaboration with suppliers.
Reduced costs: Automates processes, minimizes errors, and negotiates better supplier discounts, leading to significant cost savings.
Increased efficiency: Frees up staff from manual tasks for more strategic activities, boosting overall procurement efficiency.
Mobile accessibility: Manage key tasks like approvals and PO reviews on the go with mobile apps.

Cons

Integration complexity: Integrating Basware with existing systems can be complex and expensive, requiring specialized IT expertise.
Customization limitations: While configurable, Basware's core functionality may not fully adapt to highly specific procurement needs.
Scalability concerns: Large enterprises with high transaction volumes might face additional licensing fees or infrastructure needs.
Limited vendor adoption: Not all suppliers, especially smaller ones, may be actively using Basware, hindering automation benefits.
Reporting limitations: Out-of-the-box reporting might not be sufficient for complex data analysis, requiring additional tools.
Learning curve: Initial setup and configuration can be challenging, requiring training and support for users.

Researcher's Summary:

Basware P2P earns praise for its user-friendly interface and streamlined invoice processing, with reviewers often comparing it favorably to clunky legacy systems. "It's like night and day compared to our old system," gushed one user. "Invoices used to take weeks, now they're done in minutes." The automation features are a major hit, with users highlighting the ability to reduce manual tasks and errors. "It automatically matches invoices to POs and flags discrepancies," said another reviewer, "saving us countless hours and headaches." However, some users find Basware P2P's customization options limited, particularly when compared to competitors like Coupa. "We had to work with Basware's support team to get some basic customizations done," one reviewer mentioned. Additionally, the reporting capabilities, while functional, are seen as lacking some of the depth and flexibility offered by other solutions. "The reports are good enough for basic needs," said a user, "but for deeper analysis, we have to export data to other tools." Despite these drawbacks, Basware P2P's ease of use and automation muscle make it a strong contender for businesses seeking a user-friendly and efficient P2P solution. As one reviewer aptly summarized, "It's not perfect, but it's a huge improvement over manual processes and most other P2P systems we looked at. It just works."

Key Features

Notable Basware P2P features include:

Automated PO Processing: Streamline PO creation and approval with automated workflows, reducing errors and manual tasks.
Multi-channel Ordering: Order from various suppliers through a centralized platform, including e-requisitions, web portals, and punchouts.
Contract Management: Enforce negotiated pricing and terms with built-in contract compliance tools.
Supplier Onboarding Portal: Simplify supplier registration and enable self-service updates.
Supplier Performance Tracking: Monitor key metrics like delivery times and invoice accuracy to identify improvement opportunities.
Supplier Collaboration Tools: Foster closer relationships with suppliers through two-way communication and shared data.
Automated Invoice Routing and Approval: Eliminate manual invoice routing and approvals based on pre-defined rules.
Optical Character Recognition (OCR) and Data Extraction: Extract key invoice data automatically for faster processing and reduced errors.
Early Payment Discounts: Capture early payment discounts from suppliers to improve cash flow.
Real-time Spend Visibility: Gain instant insights into spending patterns and identify cost-saving opportunities.
Customizable Reports and Dashboards: Track key metrics and generate reports tailored to your specific needs.
Predictive Analytics: Leverage AI to anticipate future spending trends and make informed purchasing decisions.
Seamless Integration: Connect Basware P2P with your existing ERP, accounting, and other business systems.
Robust Security: Ensure data privacy and integrity with advanced security features and compliance certifications.
Scalability and Flexibility: Adapt Basware P2P to your evolving business needs and grow with confidence.

Approach to Common Challenges

Inefficient PO Processing: Basware automates PO creation and approval workflows, reducing manual errors and saving time.
Lack of Spend Visibility: Gain real-time insights into spending patterns and identify cost-saving opportunities with comprehensive reporting and dashboards.
Non-compliant Supplier Management: Enforce contracts and negotiated terms with built-in compliance tools and supplier collaboration features.
Slow Invoice Processing: Automate invoice routing and approvals based on pre-defined rules, extract key data with OCR, and eliminate manual tasks.
Missed Early Payment Discounts: Optimize cash flow by capturing early payment discounts from suppliers with automated reminders and approvals.
Limited Supplier Relationships: Foster stronger supplier partnerships and improve communication through a dedicated supplier portal and collaboration tools.
Data Silos and Integration Issues: Seamlessly integrate Basware with your existing ERP, accounting, and other business systems for centralized data and improved efficiency.
Limited Scalability and Flexibility: Adapt Basware to your evolving needs with a scalable platform that grows with your business.

Cost Of Ownership

Frequently asked questions regarding Basware P2P pricing include:

Q: What are the typical implementation costs for Basware P2P?
A: Implementation costs vary depending on factors like company size and complexity, but typically range from $15,000 to $50,000. These costs cover onboarding, training, and data migration. Basware offers flexible implementation options to manage costs, such as phased rollouts.
Q: How much can Basware P2P save on procurement costs?
A: Savings from Basware P2P can range from 5% to 20%, depending on factors like invoice volume and automation levels. Basware streamlines processes, reduces errors, and negotiates better supplier discounts, leading to significant cost reductions.
Q: What are the ongoing costs associated with Basware P2P?
A: Basware offers subscription-based pricing models with tiered features. Typical annual costs range from $10,000 to $100,000+ depending on the chosen plan and transaction volume. Basware also offers per-user or per-invoice pricing for specific needs.

Limitations

Notable limitations of Basware P2P include:

Integration complexity: Integrating Basware with existing ERP systems can be complex and costly, requiring specialized IT expertise.
Customization limitations: While offering some configuration options, Basware's core functionality may not fully adapt to highly specific procurement workflows.
Scalability concerns: Scalability for large enterprises with high transaction volumes might require additional licensing fees or infrastructure investments.
Limited vendor adoption: Not all suppliers, especially smaller ones, may be actively using Basware, potentially hindering full automation benefits.
Reporting limitations: Out-of-the-box reporting might not be sufficient for complex data analysis needs, requiring additional customization or third-party tools.

FAQ

Frequently asked questions regarding Basware P2P include:

Q: Can Basware P2P handle complex approval workflows?
A: Yes, Basware offers multi-level and role-based approval routing, with customizable rules for different invoice types and spend categories. This ensures invoices reach the right approvers while maintaining control over spending.
Q: How does Basware P2P improve supplier relationships?
A: Basware provides self-service portals for suppliers, allowing them to track POs, submit invoices electronically, and get faster payments. This transparency and efficiency can strengthen supplier relationships.
Q: Does Basware P2P integrate with other systems?
A: Yes, Basware offers pre-built connectors for popular ERP, accounting, and procurement systems. Additionally, its open APIs allow for custom integrations with specific applications, ensuring seamless data flow.
Q: Does Basware P2P improve invoice processing efficiency?
A: Basware automates tasks like PO matching, invoice data capture, and error detection, significantly reducing manual processing time. This frees up staff for more strategic activities.
Q: How does Basware P2P help with data visibility and reporting?
A: Basware provides real-time spend data across the entire procure-to-pay process. Users can generate customizable reports to analyze spending patterns, identify savings opportunities, and improve decision-making.
Q: Does Basware P2P offer mobile access?
A: Yes, Basware offers mobile apps for key tasks like invoice approval, PO review, and expense management, enabling employees to stay connected and productive even when on the go.