Basware will provide e-invoicing services to a Finnish global industrial corporation for receiving e-invoices. Basware Business Transactions Service enables the customer to receive invoices in an electronic format globally.
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The value of the deal is not disclosed but it does not have a significant impact on Basware’s net sales and profit in 2010 yet. Additionally, Basware will provide a supplier portal to enable the customer’s suppliers to submit electronic invoices. The growing e-invoice volumes will have an impact on Basware’s net sales and operating profit in the future.
“This global agreement is an important one for us and it proves our solid competitive competence in e-invoicing markets and our ability to further expand and develop our e-invoice and supplier network,” says CEO Ilkka Sihvo, Basware Corporation.
Basware Business Transactions is a part of the extensive Basware Connectivity Services. Basware Business Transactions e-invoicing service delivers invoice data directly to the customer’s invoice processing solution, which speeds up the invoice approval process as incoming invoices can automatically be posted and matched to an existing contract. Receiving e-invoices increases the automation of the invoice handling process as no scanning is needed and posting can be done automatically per line item. Electronic invoices can be received to any invoice processing system.
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