Basware signs significant global e-invoicing services agreement, powered by Alusta, with an international oil and gas company in the U.S.

Wednesday, 02 July, 2014
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Basware Corporation, stock exchange release, July 2, 2014 at 15:00

Basware signs significant global e-invoicing services agreement, powered by Alusta, with an international oil and gas company in the U.S.

Basware has signed a significant e-invoicing services agreement in the U.S for the delivery of e-invoicing and supplier services, powered by Basware's purchase-to-pay platform Alusta, to one of the world's leading oil and gas companies. The customer will use Basware's services in its operations globally. The value of the agreement is approximately EUR 2.8 million over the next five years.

"This is a significant agreement for Basware in one of our key markets, in terms of value, volume and industry. The customer processes 1.7 million invoices annually in its operations worldwide. I'm pleased to see positive customer momentum continue developing also to Basware's Alusta", says Esa Tihilä, CEO, Basware Corporation. "Basware's e-invoicing services enable the customer to receive 100% of their e-invoices easily and securely, directly to their invoice processing system via the open Basware Network, that allows buyers and suppliers of all sizes to collaborate and trade. We will also ensure that the customer's suppliers are on-boarded quickly and easily. Automated processes will empower our customer to streamline operations, increase control and cut costs while achieving new levels of spend control, efficiency and closer relations with their suppliers."

For more information, please contact:

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

Distribution:
NASDAQ OMX Helsinki Ltd
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www.basware.com