BasWare Announces Global Reseller Agreement with DICOM Group for Leading Information Capture Software

BasWare to Offer Capture Solution for Line-item Recognition that Leverages Kofax Intelligent Capture & Exchange

BasWare, the leading provider of financial process automation software, has entered into a global reseller agreement with DICOM Group Plc, the global market leader of Information Capture & Exchange solutions. Through the partnership, BasWare will begin to sell and offer full support for Ascent® Capture and Ascent® Xtrata Pro capture solutions, providing organizations a powerful end-to-end solution for invoice processing, including line item recognition.

Ascent Xtrata Pro for BasWare enables automated data capture for paper invoices and features full two-way integration to BasWare Invoice Processing. This allows for the fast transfer of key invoice data with automated capture, thus reducing manual work and improving process efficiency. The solution that works in tandem with Ascent Capture extracts key data, such as order numbers and contact information, from the invoices based on free form recognition technology. As a result, documents – whether electronic or paper-based – are automatically captured, based on a defined set of criteria. Data is then automatically transferred to the BasWare Invoice Processing solution for further approval workflow.

Further, organizations will benefit from line item recognition. With BasWare matching solutions, the line item information can be used to match purchase invoices automatically with pre-approved purchase orders. This eliminates the need for additional approval workflow as invoices are approved and transferred to payment automatically. The solution also enables free-form recognition eliminating time consuming and maintenance intensive template based capture processes.

“We are excited to be joining forces with DICOM. Many of our customers, especially Shared Service Centers, have recognized the need for both line-item level recognition and free-form capture. Now we are able to offer a new out-of-box, fast to implement capture solution as part of our leading Enterprise Purchase to Pay portfolio,” says Ilkka Sihvo, Chief Executive Officer of BasWare.

With the solution, organizations can reduce the cost and complexity associated with invoice processing, including the expense that results from human error during manual processing as well as paper storage and retrieval. Therefore, accounts payable personnel can instead focus on profit-optimizing functions rather than administrative tasks.

“Our expanded agreement with BasWare brings together two best-of-breed solutions that enable businesses of all kinds to successfully address a wide range of invoice processing challenges,” said Rob Klatell, Chief Executive Officer of DICOM Group. “We believe that organizations across all vertical industries will be able to benefit from this new joint offering as they strive to reduce costs, eliminate processing headaches, and improve efficiencies within the enterprise.”

BasWare Enterprise Purchase to Pay solutions automate the entire purchase-to-pay process thus enabling companies to achieve time and cost savings as well as gain process control and transparency. Ascent Xtrata Pro for BasWare is a quick to deploy and simple to maintain document transformation product that streamlines document driven processes.

For more information, please visit www.dicomgroup.com and www.basware.com.

For more information, please contact

Matti Rusi, SVP Global Operations, BasWare, tel. +358 40 522 8125
Stefan Gaiser, Finance Director, DICOM Group Plc, tel. +44 (0) 800 6520 616

About BasWare

BasWare is the global leader in Enterprise Purchase-to-Pay and Financial Management solutions. More than 500,000 end-users in over 40 countries use its software to automate back-office financial operations to enhance efficiency, gain process control and transparency, and meet compliance requirements. BasWare’s products are widely used in Shared Service Centers.

In 2006, net sales reached EUR 60 million. The growth target for net sales for 2007 is 15–20% and will continue to be supported by a growing network of value-added resellers.
 
Founded in 1985, BasWare Corporation is a public company listed on the Helsinki Stock Exchange. Headquartered in Helsinki, Finland, it has eight subsidiaries in the US and Europe.

About DICOM Group plc

DICOM Group plc ("DICOM Group", London Stock Exchange: DCM) is a global leader of Intelligent Capture & Exchange solutions. Its leading edge capture and exchange technologies and solutions enable Business Process Automation by managing the transformation and exchange of business-critical information (residing in various formats such as paper, fax, electronic documents, e-mail, SMS) among people, applications and devices. Through a global network of more than 1,200 authorised partners and its own sales and service organisations in the Americas, Asia Pacific and EMEA. DICOM Group helps blue-chip enterprises in more than 60 countries to reduce cost, increase efficiency and minimise risk in their critical business processes. For more information, visit www.dicomgroup.com.