Basware

Infobox_Company
company_name = Basware
company_
company_type = Public (OMX|HEX24238|BAS1V)
foundation = flagicon|Finland Espoo, FIN (1985)
location_city = Espoo, Finland
location_country = FIN
key_people = Ilkka Sihvo, CEO
Mika Harjuaho, CFO
Jari Tavi, CTO
num_employees = 650 (January 2008)
products = Basware Invoice Processing
Basware Purchase Management
Basware Contract Lifecycle Management
Basware RFx Management
Basware Travel & Expense Management
Basware Contract Lifecycle Management
Basware Contract Matching
Basware Order Matching
Basware Document Archiving
Basware Supplier Portal
Basware Business Planning
Basware Group Consolidation
Basware IFRS Package
Basware Cash Flow
Basware Transparent Reporting
Basware Analyzer
Basware Enterprise Imaging
Basware Mailroom Automation

| revenue = profitEUR 73 million (2007)
operating_income = profitEUR 7,5 million (2007)
homepage = [http://www.basware.com/ www.basware.com]

Basware Corporation is one of the globally leading companies developing enterprise software solutions for two key financial processes, purchase to pay and financial management. Basware Enterprise Purchase to Pay suite includes invoice automation and procurement software as well as a contract lifecycle management solution, sourcing and travel & expense management solutions. Basware Financial Management portfolio includes solutions for financial planning, reporting and analyzing. Basware’s solutions are packaged composite applications (PCA) that generate added value by interacting with and complementing the functionalities of existing systems, such as enterprise resource planning (ERP) systems. With Basware solutions, companies can automate their financial processes and back-office financial operations to enhance efficiency, gain process control and transparency, and meet compliance requirements. Basware’s solutions are deployed across the organization to support daily processes. The company’s software can also be implemented as a Software as a Service (SaaS) delivery.

The company has operations in more than 50 countries on six continents. Basware’s markets include Nordic countries, Europe, Russia, North America and Asia Pacific. The company has its own subsidiaries in Scandinavia, Western Europe and the United States. Additionally, Basware has over 70 value added resellers in Europe, North America and Asia Pacific.

Basware is listed on the OMX Helsinki and growth of net sales on average has been more than 45 percent over the last five years.

Milestones

* 1985 Basware was founded
* 1990 Management buy-out
* 1992 First Basware Financial Management software introduced
* 1997 First Basware Invoice Processing software introduced; Scan & Capture Workflow for Invoices – e-Flow
* 1999 First customer in Sweden
* 2000 Public listing on the Helsinki Stock Exchange
* 2000 Basware introduces first electronic invoicing, archiving and procurement products and intelligent OCR
* 2000 First customers in Norway, Denmark and the Netherlands
* 2001-2002 Expansion into Central Europe, UK, USA and Australia
* 2005 Basware acquires Norway-based Iocore and Finnish Trivet Software
* 2006 Basware acquires Finnish Analyste
* 2007 Basware acquires UK-based Digital Vision Technologies Ltd, [" [http://www3.basware.com/About_Us/our_history/Pages/default.aspx Basware history] "]
* 2008 Basware acquires Sweden-based Contempus AS, [" [http://www3.basware.com/News_and_Events/stock_exchange_releases/Pages/News.aspx?newsUrl=http://cws.huginonline.com/B/131662/PR/200809/1249122.xml Basware Stock Exhange Releases] "]

Milestones of Innovation

* 1997 Innovation of invoice processing
* 2002 Introduction of automated workflow
* 2004 Introduction of true invoice automation
* 2005 5-way matching (business rules based automation)
* 2005 Enterprise Purchase to Pay (EPP) concept
* 2006 First with Built-in Key Performance Indicator Tool with over a hundred predefined indicators
* 2007 First to offer EPP solution with full Unicode support
* 2007 Basware Mobile Client introduced

References

See also

Analysts
* [http://www.paystreamvoices.com/index.php?tag=basware Basware related information at PayStream Advisors:]
* [http://www.forrester.com/rb/search/results.jsp?N=0&Ntk=MainSearch&Ntx=mode+MatchAllPartial&Ntt=basware Basware related research at Forrester:]

Investors
* [http://www.omxgroup.com/nordicexchange/priceinformation/microsite/Shareinformation/?InstrumentId=HEX24238 Helsinki stock exchange (Basware)]
* [http://www3.basware.com/Investors/Pages/default.aspx Official reports and announcements (including stock exchange reporting)]