Basware signs agreement on AP Automation & e-Invoicing solutions with Huf in Germany

21 September 2012

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Basware will deliver AP Automation solutions and e-Invoicing services to Huf Hülsbeck&Fürst ('Huf'), a leading company within the automotive industry, in Germany. The services that Huf is using are powered by Basware Alusta, the unified cloud-based platform for Purchase-to-Pay. The specific services to be delivered are Basware Invoice Automation along with Basware Scan & Capture and Supplier Activation services. The customer will use the services across its operations globally. The value of the license-based agreement is about EUR 350,000 over the next three years. The delivery of the services will begin in October 2012.

"Securing the new agreement and customer are the result of our very strong position in the German market. With the acquisition of First Businesspost GmbH in early 2012, Basware became the leading e-Invoice operator in Germany, one of our key markets. With the acquisition, we also gained deeper knowledge and experience in the automotive sector. The new agreement is an excellent example of how our strategy to expand our global presence and accelerate growth is being realized," says Esa Tihilä, CEO, Basware Corporation.

Huf will use solutions powered by Basware Alusta, the unified cloud-based platform for business-to-business transaction collaboration. Alusta streamlines purchasing, accounts payable and accounts receivable processes via a scalable, secure, open collaborative commerce ecosystem for buying and supplying organizations of every size and location. "Basware Alusta is optimized to ensure easy connectivity with the Open Network for companies of all sizes. The technology provides open, centralized access to all Basware services via an open business commerce network. We will also continue our efforts to offer Basware Alusta to our other customers", Tihilä concludes.

Huf Hülsbeck&Fürst develops and produces mechanical and electronic key systems, lock sets, steering column locks and remote control systems as well as tire pressure monitoring systems and telematic systems for the automotive industry. Huf has approximately 6 400 employees located in 16 countries worldwide. Huf was the first company to develop components for the new car access and immobilization systems "Passive Entry" and "Keyless Go".

For more information, please contact:

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

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