B2B Payments

SciQuest, Basware Upgrade Their Procure-To-Pay Game


Two procure-to-pay players are upgrading their offerings.

On Tuesday (Aug. 2), spend management firm SciQuest revealed updates to and new features for its source-to-settle platform. The upgrades include mobile enhancements for businesses to procure goods through mobile devices, the company said, while procurement teams will have greater visibility of corporate spend with other features added to SciQuest’s platform.

According to the company, SciQuest is now the first and only spend automation firm to provide mobile-based, punch-out catalogs to support corporate shopping. It also claims to be the only firm in the industry offering “complex search capabilities.”

Punch-out catalogs enable businesses to procure from a supplier’s site from within the buyer’s own procurement platform.

Further, SciQuest revealed other features, including the Portfolio Savings Manager to support corporate savings efforts, built-in reporting capabilities and enhanced integration with invoicing and analytics for data aggregation and invoice reconciliation.

Also on Tuesday, eInvoicing and procure-to-pay firm Basware announced its own enhancements to its eProcurement portal.

Basware’s new features aim to save companies time and boost collaboration within the buy-side organization, the company said, and is the result of its recent acquisition of Verian, announced earlier this year.

New features include expedited sourcing capabilities, enhancements to its mobile app, easier modification of requisitions during the approval process and others.

“The new release of the Verian eProcurement solution suite helps organizations further these goals by enabling end users, procurement teams and accounts payable staff to more easily and efficiently work together as they create and process orders for goods and services, regardless of their location,” said Basware North America General Manager Tehseen Dahya. “It also enables organizations to achieve greater accuracy and productivity in their purchasing and finance operations and ultimately cut costs through increased visibility into spend.”



The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.

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