Basware Corporation, stock exchange release, February 2, 2016 at 08:40
Basware's refined strategy for 2016-2018
Basware is the market leader of the fast growing market of networked purchase-to-pay (P2P) and e-invoicing solutions. Automated, real-time solutions including innovative financing services for cash flow and working capital management differentiate Basware positioning it to become the largest business commerce network in the world. With reaching a tipping point in its transition from a license-dominated software company to offering cloud and network-based services, the refined strategy for 2016-2018 will enable Basware to capture an increasing share of new markets and accelerate the expansion of its P2P and e-invoicing solutions and new financing services for organizations of all sizes.
Starting point for the next phase of growth
Basware has successfully managed to leverage its superior integrated offering to achieve its current status of largest e-invoicing network operator and largest invoice automation solution supplier in the world. Basware is proud of the milestones the company has achieved over the recent years resulting in key competitive differentiators:
Refinements to strategy enabling priorities and investment
Basware's vision to become the largest business commerce network in the world remains unchanged.
Basware's strategic goals by 2018 include the following:
The refined 2016-2018 strategy will now focus fully on operational execution and making the necessary investments to accelerate the crystallization of this vast potential.
Basware will accelerate operating investments that will be mainly targeted at:
Within sales, Basware plans to increase its direct sales force, with a key focus on the UK, the US and Germany. In addition to the effort on direct sales, the company will also continue to focus on establishing new types of partnerships, ranging from accounting service providers and various other cloud solution providers to business process outsourcing providers, and financial institutions. As part of its strategy, Basware will also extend its go-to-market model to better address the SMB segment and will continue to innovate in value-added services leveraging the Basware Network and its data.
The company will further improve profitability as a result of the ongoing efficiency and streamlining initiatives. These initiatives include the continuous cost of sales reduction of Basware's cloud-based business, increasing use of online tools and services to selectively automate demand generation and sales activities, as well as various supporting process simplification and scalability related actions.The organic growth which is the key focus will continue to be supported by a disciplined acquisition strategy, aimed at strengthening the company's position in its key markets.
For more information, please contact:
Esa Tihilä, CEO, Basware Corporation
Tel. +358 40 480 7098