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Basware Signs Significant Invoice Automation Solution Agreement with German Multinational Engineering and Electronics Conglomerate Company

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



Press release date: December 30, 2013

The agreement will provide for the customer invoice automation solution as well as scanning and e-invoicing services. The services will be used in three continents and includes users in the UK, the United States, and Australia. The value of the agreement is approximately EUR 350.000 over three years. The solution will be deployed in early 2014 as Software as a Service (SaaS).

"Basware's invoice automation solutions bring robust automation to the accounts payable invoice handling process. With the agreement, our customer can automate their invoice processing and quickly benefit from lower costs per invoice. Accordingly, we can support the customer with their entire workflow consolidation and scanning strategy and help them with new business integration," says Esa Tihilä, CEO, Basware Corporation. "This agreement strengthens our relationship with the customer as well as our geographical spread of both our SaaS and network contracts and ultimately increase the amount of transactions within the Basware Commerce Network. The customer can also benefit from the full scalability of our solution which can be easily extended to even more countries and global operations."

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 provides open, secure, cloud-based purchase-to-pay and e-invoicing solutions to organizations of all sizes, resulting ingreater efficiencies in procurement, accounts payable and accounts receivable.

Companies across all industries, from small businesses to corporate giants use Basware solutions to drive sustainable cost savings, proactive insight to cash flows and improved buyer-supplier relationships. The Basware Commerce Network is founded on the principles of openness, where all types of organizations can collaborate and trade, making it the largest in the world. Today we connect millions of business users in 900,000 companies across over 100 countries.

Basware is the global leader
in providing solutions for better buying, better selling and connected commerce. Find out how Basware boosts financial performance and profitability at www.basware.com.

https://twitter.com/basware
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basware

Source: Basware, PL 97, Espoo
02601, Finland



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