BasWare Named as a Leading Electronic Invoice Presentment & Payment Provider in Independent Report on the EIPP Market

BasWare Corporation, a leading provider of Enterprise Purchase to Pay and Financial Management solutions has been recognised as Europes leading electronic invoice and presentment and payment (EIPP) vendor in the Forrester Wave: Accounts Payable EIPP, Q3 2005 (Forrester Research Inc., August 22, 2005) market report.

The independent report, which is increasingly being used as an essential tool for businesses, provides a detailed review of the accounts payable EIPP market. It evaluated top vendors over 74 criteria. BasWare achieved a significantly higher than average rating than its European competitors and is said to be strong enough in its current offering to be a legitimate alternative in North America to the US-based vendors.

BasWares current solution was found to be particularly strong in the areas of: workflow capability, transaction visibility, multi-way matching and reporting across all accounts payable functions. The authors of the report expect to see more European vendors following BasWares lead and add this functionality to their own solutions.

BasWare was also found to be a leading solution for global companies, in terms of technology, customer support and being standout on globalization. It has the largest number of multi-national implementations of all those evaluated.

Forrester also praises BasWares strategy and market presence, giving BasWare the highest scores in resources dedicated to R&D and number of employees dedicated to EIPP. Forrester goes on to say: BasWare has the largest market share of all the vendors. It is the market leader with both the largest installed base and the most revenues.

Stefan Engel-Flechsig, Chairman of CEN/ISSS Workshop eInvoices* said: BasWare features so highly in the Forrester Wave because it is a true leader in the eBusiness revolution. Its key strength is its focus on the integration of information flow from purchase to pay. It is proven to enable and facilitate the application of business data to increase business integration and efficiency, which is key for any organisation. No other company is coming close to this.

Steve McCarthy, Managing Director, BasWare UK said: BasWare has been leading the electronic invoice and payment market from the beginning. For over 20 years we have been combining the skills of our R&D team with feedback from customers to develop what we have always believed to be the most comprehensive purchase-to-pay solution portfolio available.

Most recently we have added travel expense management to the portfolio. We have also received SAP certification, readying us for planned expansion across Europe and North America. The findings of the Forrester Wave acknowledge BasWares strengths and we are committed to continue to build on these, concluded Steve.

* The CEN/ISSS WorkShop on "Interoperability of Electronic Invoicing" was launched on 21 April 2004 in response to an EU/EFTA standardisation mandate concerning standardisation in support of Directive 2001/115 of the Council and Parliament.

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