Basware rings closing bell at NASDAQ OMX

Basware, the global leader in purchase-to-pay solutions, joins the select group of companies that have presided over the NASDAQ OMX stock exchange closing bell in New York when CEO Ilkka Sihvo closed down trade on Wednesday, March 17. Basware has been publicly traded on NASDAQ’s OMX Helsinki exchange since 2000, celebrating this year both the 10-year anniversary of its IPO as well as the 25th business anniversary. The company was invited to participate in the closing-bell ceremony because of its strong global presence and recent success in the US market.

“Basware’s global leadership, growth in the U.S. market and our financial success reflect a dedication and zeal to bring about continuous improvements in the purchase-to-pay process,” said Ilkka Sihvo. “I’m honored to represent Basware at the NASDAQ closing bell ceremonies and look forward to building upon our 25 years of product innovation and market leadership to bring financial automation to the next level in the US as well as around the world.”

© Copyright 2010, The Nasdaq OMX Group

Despite a challenging market situation last year, in 2009 Basware achieved its highest net sales in its history, and the company’s operating profit grew by more than 15%.  The company succeeded well in all of its markets, with most units meeting or exceeding their objectives for the year. Since its founding, Basware has been profitable, and it has paid dividends for all fiscal periods.  In 2010 Basware expects its net sales to continue to develop positively at the level of 2009.

Click here to view a video of the event.

About Basware
Basware is the global leader in purchase-to-pay solutions with more than 1,500 customers and 1,000,000 users in over 50 countries around the world. With Basware, organizations can reduce the cost of buying and paying for goods and services and gain visibility and control of their entire spending process by automating manual processes, from sourcing, contract management,  purchasing and supplier collaboration to invoice automation.  Basware solutions and services enable substantial cost reductions across businesses and deliver value by providing compliance and control, as well as fast return on investment. The solutions are distributed and implemented, either on site or as a service, in Europe, the US, and Asia-Pacific through an extensive network of Basware offices and business partners. www.basware.com

Press contact:

Emilia Vaajoensuu
Communications Manager, Basware
firstname.lastname@basware.com