As we announce the results of the 2012 financial year and our Annual Report, I wanted to share some of my thoughts on the last year and the plans we are building on for 2013.
View my interview on Basware's Annual Report 2012
2012 was an important year in Basware’s history. We announced a new strategy and the company as a whole focused on the profound transformation from a license based business to a software-as-a-service led organization. Basware aims to become the largest business commerce network for buyers and suppliers globally, and to reach 150 million transactions by the end of 2015. The work completed in 2012 put us in good stead to achieve this goal.
The transaction volume has continued to increase in line with our objectives, and we have connected an even higher number of suppliers and buyers in our global Open Network with new products and delivery methods. The transaction volume amounted to 34 million during 2012 – an impressive increase of 63.5%.
Across the world Basware experienced growth but key markets such as Germany led the way. As a business we made good progress in the US, and continued to enjoy success in the home markets of the Nordics.
A stand-out success of 2012 was the growth we achieved in the automotive sector. Basware is now used by the vast majority of European car manufacturers, which marks a major achievement.
Basware invented the software business for invoice processing, including e-invoicing, a decade ago; we continue to hold onto our position as market leader. Our product portfolio remains arguably the most competitive worldwide. Our heritage and expertise in this space means we know and understand the functionality required by businesses; software and services in one package addresses these evolving requirements.
The past year was also shaped by two significant acquisitions – First Businesspost GmbH (1stbp) in early 2012 and Certipost in early 2013 – making us the market leader in Germany and the Benelux, and strengthening our already strong position in the Nordics.
2013 is going to be a bright year for Basware. We have made the necessary changes to transform our business and we intend to grow 3-5x over the coming years.
Further information that might interest you can be found from http://www.basware.com/investors