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Basware Signs Accounts Payable Automation and e-Invoicing on Alusta Agreement with Leading Hospitality Retail Provider in the UK

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Basware Corporation

Linnoitustie 2, Building Cello, Espoo, FIN-02601, Finland

Original Press Release

Basware Signs Accounts Payable Automation and e-Invoicing on Alusta Agreement with Leading Hospitality Retail Provider in the UK

Press release date: April 3, 2014

Basware has signed an agreement for the delivery of accounts payable automation and e-invoicing services with one of the UK's largest hospitality retail providers. The services are powered by Alusta, Basware's unified cloud-based platform for purchase-to-pay. The agreement includes invoice automation and 100% inbound e-invoicing services. Basware is also providing a reporting solution, Basware Analytics, for improving accounts payable data visibility and a mobile solution for processing e-invoices. The services will be implemented in the UK. The value of the agreement exceeds EUR 700,000 over three years.

"We are pleased to start the cooperation with this new major customer in one of our key markets, and to add value to their financial operations by simplifying and streamlining key financial processes", says Esa Tihilä, CEO, Basware Corporation. "We have continued to expand our business in the hospitality retail space with several significant customers over the last 18 months. They are all able to easily collaborate across the Basware Commerce Network, the largest open business network in the world, while improving efficiency and supplier-buyer relationships."

For more information, please contact:

Esa Tihilä, CEO, Basware Corporation
Tel. +358 40 480 7098

Distribution:
NASDAQ OMX
Helsinki Ltd
Key media
www.basware.com

About Basware

Basware is the global leader in providing purchase-to-pay and e-invoicing solutions in the world of commerce. We empower companies to unlock value across their financial operations by simplifying and streamlining key financial processes. Our Basware Commerce Network, the largest open business network in the world, connects 1 million companies across 100 countries and enables easy collaboration between buyers and suppliers of all sizes. Through this network, leading companies around the world achieve new levels of spend control, efficiency and closer relations with their suppliers. With Basware, businesses can introduce completely new ways of buying and selling to achieve significant cost savings and boost their cash flow. Find out how Basware helps money move more easily and lets commerce flow at www.basware.com.

Basware (BAS1V) has been listed on the
Helsinki Stock Exchange since 2000. Find out more at www.basware.com/investors.

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