Basware intros SmartSearch within Electronic Procurement Solution

Basware has introduced enhancements to the catalog search functionality within its electronic procurement solution that enables users to find the right products quickly and easily. SmartSearch is powered by industry leading cloud-based search technology which accelerates response times and makes the solution more scalable.

Usability has been a focal point when it comes to indirect procurement for years and cost savings have been the typical driver for automating purchasing in categories like stationery, laptops, mobile phones, etc. However, in certain industries (like healthcare, banking or oil and gas), procurement departments are under tremendous pressure to ensure reliability of deliveries when it comes to goods and services that are critical for the business.

This often means that procurement professionals need to negotiate agreements with multiple suppliers to ensure uninterrupted deliveries, or there could be different variants of the same product that no single supplier can deliver. Or suppliers may offer regional prices and organizations want to ensure the cheapest price in each area where they have operations.

Given all these different scenarios and multiple options, it becomes a challenge from the user perspective to determine which product to buy. At this point, it’s not enough to simply deliver a slick user interface. It is about driving users to make the right choices – whether it is preferred products, vendors or channels.

The new Basware catalog search functionality, SmartSearch, is built on a sophisticated product data model that allows procurement departments to create a database of products with each product having multiple suppliers, prices and units.

A highly intelligent algorithm automatically selects or suggests the best option of available products to the end user based on various circumstances that factor into the decision – location, price of day, delivery reliability, etc. This means the best choices are being updated and presented in real time so procurement professionals can maximize the value of their efforts.