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Basware Unveils Visible Commerce Initiative at Connect Conference

Friday, April 26, 2019

Basware Unveils Visible Commerce Initiative at Connect Conference

Implores Businesses to Restore Human Connection in a Push-Button Society

CHICAGO, Illinois – April 26, 2019 — Basware (Nasdaq: BAS1V), the global leader in networked source-to-pay solutions, e-invoicing and innovative financing services, introduced a provocative initiative at its annual user conference, Connect 2019, today at The Langham, Chicago hotel. Basware SVP and General Manager of North America, Eric Wilson, introduced “Visible Commerce,” a call to action to embrace technology and data to create better business, better society, and better humans.  Basware defines “Visible Commerce” as a transparent exchange of money, goods and services where the availability of data empowers people to make effective and ethical business decisions.

“Visible Commerce isn’t a pull from automation, efficiency and convenience; it’s a push toward higher expectations from one person to another,” stated Wilson. “Visible Commerce is believing that technology and humanity are interdependent and not in competition with each other – it’s a symbiotic relationship that enables us to be stronger and faster, but we need to make certain that we are also better because of it.”

By recapturing the human side of commerce companies can also recapture visibility into who they are transacting with and at what true cost.

The foundation and principles of the Basware solution are quite uniquely positioned to support a future world of “Visible Commerce.” Currently, Basware empowers organizations with 100% spend visibility by enabling the capture of all financial data across procurement, finance, accounts payable and captures interactions between suppliers and buyers throughout the source-to-pay journey. However, to get to true “Visible Commerce,” companies can’t simply automate and capture their data, they need to do so within the context of the world's largest open commerce network.  That, in effect, turns the network into a powerful open ecosystem providing true transparency into who is behind all that transactional data in a detailed level, as well as what it all means at an aggregate level.

“Our human connection is fading to the background as the person has been effectively removed from the exchange. In effect, we’ve made business none of our business,” continues Wilson. “We must not fall into the trap of a zombie-like, blind way of transacting business. I'd like to challenge us all collectively to embrace the benefits of technology beyond its ability to make us faster and more efficient.”

Basware will continue to build out and expand the initiative in the coming weeks and months. To see Eric Wilson’s presentation and video and to learn more visit the Visible Commerce website.

About Basware

Basware offers the largest open business network in the world and is the global leader in providing networked purchase-to-pay solutions, e-invoicing and innovative financing services. Our technology empowers organizations with 100% spend visibility by enabling the capture of all financial data across procurement, finance, accounts payable and accounts receivable functions. Basware is a global company doing business in more than 100 countries and is traded on the Helsinki exchange (BAS1V: HE).