Basware signs accounts payable and e-invoicing agreement with luxury brand retailer in France

Wednesday, 06 April, 2016
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Basware Corporation, stock exchange release, April 6, 2016 at 14:30

Basware signs accounts payable and e-invoicing agreement with luxury brand retailer in France

Basware has signed an agreement for the delivery of accounts payable and e-invoicing services with a luxury brand retailer, a new customer in France. 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 a scanning solution for paper invoices. The value of the agreement is approximately 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 improve relations with suppliers, who can easily transact globally via Basware's network. E-invoicing is one of the key enablers of a fully automated accounts payable function. With Basware's services, the customer can easily and securely receive 100% of their 300,000 annual invoices as e-invoices, which provides significant cost and process benefits," says Esa Tihilä, CEO, Basware Corporation.

For more information, please contact:

Sirje Ahvenlampi-Hyvönen, Communications Director, Basware Corporation
Tel. +358 50 557 3822

Distribution:

Nasdaq Helsinki
Key media
www.basware.com/investors

About Basware:

Basware (Nasdaq: BAS1V) is the global leader in providing networked purchase-to-pay solutions, e-invoicing and innovative financing services. Basware's commerce and financing network connects businesses in over 100 countries and territories around the globe. As the largest open business network in the world, Basware provides scale and reach for organizations of all sizes, enabling them to grow their business and unlock value across their operations by simplifying and streamlining financial processes. Small and large companies around the world achieve significant cost savings, more flexible payment terms, greater efficiencies and closer relationships with their suppliers. Find out more at www.basware.com/investors.

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