Basware signs EUR 2.5 million accounts payable automation and e-invoicing agreement with leading construction company in New Zealand

Basware Corporation, stock exchange release, March 31, 2014 at 15:00

Basware signs EUR 2.5 million accounts payable automation and e-invoicing agreement with leading construction company in New Zealand

Basware has signed a significant agreement for the delivery of accounts payable automation solution and e-invoicing services with a major construction company in New Zealand. The agreement includes a license-based solution for invoice automation powered by Alusta, Basware's unified cloud-based platform for Purchase-to-Pay and services for receiving e-invoices and scanning paper invoices. BasWare is helping the customer to activate their suppliers to send e-invoices and provides a portal for supplier collaboration. The solution and services will be implemented in New Zealand and Australia. The value of the agreement is EUR 2.5 million over three years.

"This major customer processes close to 4 million invoices annually. Besides significant improvements in the customer's accounts payable process and standardization in invoicing via the Basware Commerce Network, an open network that allows buyers and suppliers of all sizes to collaborate and trade, the acquired services will enable this customer to benefit from vastly improved vendor relationships through online collaboration. Activating suppliers to send their invoices electronically speeds up the e-invoice adoption and enables all parties to benefit from e-invoicing, easily", says Esa Tihilä, CEO, Basware Corporation. "Our global presence including one the newest markets for us, the Asia-Pacific region, has been strengthening and we are very pleased to see our business expanding in the region."

For more information, please contact:

Esa Tihilä, CEO, Basware Corporation
Tel. +358 40 480 7098

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Source: Basware via Globenewswire
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