Making it all just happen for 40 years

1980’s Digital Beginnings
In 1985, our founders had a simple idea: make business better. With that vision, they created “Baltic Accounting Systems” and took their first steps toward change. “Paperwork” still involved paper – lots of it. The digital revolution had begun, but, AP clerks still spent their days wading through stacks of envelopes. CFOs questioned why processing invoices cost nearly as much as paying them. Change was needed, and we were ready to lead it.

1990's Automation Awakening
In 1992 we launched our first software, Basware Financial Management. A year later, we officially became BasWare. A team of Finnish finance software experts set out to solve the paperwork problem for finance teams. By the late 90’s we had built the world’s first invoice processing software with a “scan & capture” workflow to digitize paper invoices – and, in doing so, inventing the AP automation industry.

2000’s The outsourcing wave
As the new millennium rolled in, Basware was listed on the Helsinki Stock Exchange and expanded into purchase management and e-invoicing software. Basware was no longer just a Finnish company, we were growing globally with teams now across Europe, Asia, Australia, and the US. By 2005, we launched a fully integrated purchase-to-pay solution suite, driving the next wave of innovation.

2010's Cloud-Powered Finance
In 2011, Basware’s digital transformation journey took flight, shifting from on-premise software to SaaS. We became a founding member of OpenPeppol, setting the standard for global compliance. We kept innovating, and in 2018, we launched Basware SmartPDF, leveraging advancements in Predictive AI to drive smarter, more efficient invoice processing.

2020s: Insight AI-Augmented Driven Finance
Today, Basware empowers finance teams to gain complete control of every invoice, every time. Our Invoice Lifecycle Management platform delivers end-to-end efficiency and compliance. Powered by world-leading invoice-centric AI, trained on +2.3BN invoices, and +$10 trillion in spend managed, we transform finance operations and drive real ROI for our 6,500+ customers.

The future: Pioneering the next era of finance
And we’re not finished yet. We continue to launch innovative solutions and partnerships while driving a culture of being bold and driving innovation. Here’s to the future, and our commitment to make Invoice Lifecycle Management happen.