Basware Network reaches 100 million network transactions, reinforcing the growth of the e-invoicing business and adoption

20 October 2015

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This milestone underlines significant growth in e-invoicing, increased awareness and industry momentum

STAMFORD, Conn., Oct. 20, 2015 - Basware, the leading provider of e-invoicing and purchase-to-pay solutions, continues to achieve record growth, with 100 million annualized e-invoice and purchase order transactions sent and received across the Basware Network, the largest open business network in the world. This milestone highlights the success of Basware's commitment to helping businesses unlock the value in their financial operations.

For over a decade, Basware has been the driving force behind a rapidly growing business ecosystem designed to connect e-invoicing and e-ordering networks globally. Today, the Basware Network connects with over 200 B2B (business-to-business) networks, allowing customers to transact seamlessly wherever they do business. The interoperability between networks speeds up the adoption of e-invoicing. This network ecosystem enables e-invoices to be sent and received between governments, businesses and suppliers, speeding up cash flow and creating a more stable economy. Although growth rates for e-invoice adoption have been approximately 20 percent in recent years, recent mandates by the EU and U.S. for B2G (business-to-government) e-invoicing are expected to accelerate adoption.

The Basware Network provides an easy way to conduct business. It helps you grow your business and manage cash flows. A great example of the power of our open network is Basware Financing Services, which adds key value to organizations in the Basware Network. This might mean creating and initiating a new payment program, setting up dynamic discounting or financing your receivables. Through the Basware Network, organizations are able to make or take payment as cash flow requires. This agility creates competitive advantage and directly impacts the bottom line,” said Esa Tihilä, CEO, Basware.

In addition to companies, governments are realizing the benefits of connected commerce and are mandating e-invoice adoption. By going paperless, governments can also speed up their invoicing and payment processes significantly. This faster-moving capital impacts the strength of the economy in terms of trade and GDP,” Tihilä added. “Forward-thinking governments and companies across the world implement e-invoicing as a way of improving cash flow, ensuring smoother payment cycles and building stronger relationships between buyers and suppliers across supply chains.

The Basware Network is open to all – there are no expensive memberships, unfair fees or participant lock-in.

Today, the network connects over one million companies and governments across more than 100 countries. Because the network is comprised of over 200 other networks, customers of one network can e-invoice customers of another network and vice versa. This ability to roam is one of many reasons why the Basware Network, and other open networks are growing faster than closed networks.

More information:

Join the Network: http://www.basware.com/global-business-network-basware

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 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.

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COMPANY CONTACT:
Robert Cohen
Basware, Inc.
robert.cohen@basware.com
203-487-7905

MEDIA CONTACT:
Diane Pardes
Pardes Communications LLC
dpardes@pardescommunications.com
781-652-8059

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