Basware Reviews

Basware is a struggling company that is going in the wrong direction. While others in the industry (Coupa, Ariba, TradeShift, etc) grow and expand, Basware is struggling to stay relevant. Financial results have not been good and the company has been trying to do everything it can to prop them up. Last fall they laid of 10% of the non-Indian work force, roughly 130 people, worldwide and many internally believe if financial results do not improve, more layoff rounds will follow. The current executive management team has no P2P industry experience and it shows. Product development and innovation has lagged and the effects can be seen in the lackluster sales. Customer satisfaction NPS scores are horrible and, not surprisingly, the company struggles to find P2P references anywhere in the world. In North America, apart from one person, the management team that helped produce four years of increasing sales from 2012 – 2015 is all gone. The NA sales team has had more than 50% turnover in the past six months. Seven sales people were laid off, these were in addition to the layoffs mentioned above, and another three or four in sales chose to leave on their own, including the two regional VPs of sales. The 2016 acquisition of Verian in North America has not worked out well. The hoped-for synergies have not materialized, If anything, sales, morale and country leadership have all suffered as the 2016 and Q1 results have shown. Basware in North America remains a company divided.