Basware signs accounts payable and e-invoicing agreement with GKN Driveline in the US

9 February 2016

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Basware has signed an agreement for the delivery of accounts payable and e-invoicing services with GKN Driveline North America, Inc. ("GKN Driveline"), a new customer in the US. The solutions are powered by Alusta, Basware's unified cloud-based platform for purchase-to-pay. The agreement includes accounts payable automation with 100% inbound e-invoicing and supplier activation services. Basware is also providing Basware Analytics for gaining immediate insight into financial performance and a mobile solution, which gives access to financial processes regardless of time and place. The value of the agreement exceeds EUR 1.1 million over five years.

"We are excited to form a strategic partnership with this new major customer and provide services that enhance their financial operations and boost the e-invoice adoption significantly among their suppliers. GKN Driveline can easily and securely receive 100% of their invoices as e-invoices via the open Basware Network. Visual reports will help the management to make better decisions, while mobility benefits end-users who can review and approve invoices on the move", says Esa Tihilä, CEO, Basware Corporation.

About GKN Driveline
GKN Driveline is the world's leading supplier of automotive driveline components and systems. As a global company serving the world's leading vehicle manufacturers, GKN Driveline develops, builds and supplies an extensive range of automotive driveline components - for use in the smallest ultra low-cost car to the most sophisticated premium vehicle demanding the most complex driving dynamics. GKN Driveline is a leading global producer of CVJ Systems, AWD Systems, Trans Axle Solutions and eDrive Systems and operates in 22 countries at 45 locations employing approximately 26,500 people.

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. We help our customers to succeed and create added value to their business through better financial management. 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. The company’s U.S. business, Basware, Inc., is headquartered in Stamford, Conn.

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.
203-487-7905
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