BACKGROUND IMAGE: iSTOCK/GETTY IMAGES
Verian, recently purchased by Basware, offers a cloud-based procurement software platform that allows customers to carry out the full procure-to-pay process, including full sourcing capabilities, requisitions, approvals, purchasing, invoicing and payments.
What are the tools in Verian's platform that execute the procure-to-pay process?
Verian's products help companies streamline requesting, purchasing, invoicing, and traveling and expenses. Even though all of Verian's products are modular and can be purchased individually, they are also supplemental to each other when bundled and work together to manage the procure-to-pay process.
In the Purchase Manager module, buyers can manage purchase orders, communicate with suppliers and assign other tasks. Described by Verian as the "heart of the procurement software," with Purchase Manager, users can see all indirect spending within the organization and then address how to save money. With Verian's cloud-based procurement software, organizations can usually cut down their indirect spending between 5% and 15%.
The purchasing and invoice components allow users to manage transactions by supplier or item category so larger-sized enterprises can handle greater volumes.
Traveling and expenses management is also part of Verian's platform so that users can create, approve, manage and pay expenditures.
For the assets and inventory module, organizations can track cost information on their resources; reorder contracts with suppliers based on inventory; and configure depreciation along with travel and expense needs also being met with receipt entries, attachments approvals and payments online or in the app.
The Vendor Portal UI helps users view, filter and manage data in Verian's updated management grid for RFQs or work orders. Users can create, approve, track, manage and report on orders on any device with a working UI, which also helps communication with suppliers.
What does Verian offer to improve the procure-to-pay process?
The current version of Verian's software is 16.1. In this latest version, Verian offers users mobile capabilities on Android and iOS devices. With those various capabilities, users can create, submit and track expense reports and also give approval to expenses, invoices and order requests.
Verian's source-to-settle suite is built on flexibility for the user, with over 200 system settings and 150 user permissions. Approval workflows can be made by an administrator, and then once set up, they can be used to anticipate future challenges like out of office or approval delegation.
The platform also integrates with over 40 different accounts payable and ERP systems currently, with a wizard-style configuration so administrators can set up and maintain connections with AP systems. There are also more advanced types of connections accessible through Verian's API library, so external systems can directly send data to or receive data from Verian.
All users need to access Verian's software, which is hosted on Amazon Web Services, is an internet connection and browser. Verian supports Internet Explorer and any browser that Microsoft runs, including Firefox, Safari and Chrome. On the supplier end, users can connect to the software through the integration of the Basware Commerce Network but can also link directly to Verian's platform through standardizations such as cXML and electronic data interchange.
How is Verian's purchasing platform licensed, priced and sold?
Although these numbers may change due to the recent Basware acquisition, Verian's business today is 80% direct and 20% through partnership deals. There is no free trial offered, but Verian says potential users are welcome to use the full-product demo environment however they would like to try it.
Support is included in the seat licensing, including email, phone and ticket-system assistance, with custom support contracts also available when necessary.
Take a look at how e-procurement software utilizes cloud
Learn about what to take into consideration when choosing e-procurement software
Look into various new e-procurement tools and their features