Basware ranked amongst largest software companies

October 4, 2010  |  Electronic Invoicing

Basware, the global leader in purchase-to-pay solutions, today announced that it has been ranked among the world’s largest software and service providers in Software Magazine’s 28th annual Software 500 listing.  According to the research, Basware ranks #178 among the top 500 companies.

To be released in the September quarterly issue of Software Magazine, the Software 500 is a revenue-based ranking of the world’s largest software and services suppliers targeting medium to large enterprises, their IT professionals, software developers and business managers involved in software and services purchasing. Basware is listed in the 171-180 decile, with 2009 revenue of $129.2 million after being converted from Euros into U.S. dollars.  This reflects an increased growth rate from the previous year. Basware is publicly traded on the NASDAQ OMX Helsinki (HEX:BAS).

The ranking is based on total worldwide software and services revenue for 2009. This includes revenues from software licenses, maintenance and support, training and software-related services and consulting. Suppliers are not ranked on their total corporate revenue, since many have other lines of business, such as hardware. The financial information was gathered by a survey prepared by King Content Co. (posted at, as well as from public documents.

“We’re pleased to be recognized by Software Magazine as one of the world’s largest software companies,” said Ari Salonen, general manager, North America for Basware. “Through our industry-leading purchase-to-pay solutions and our focus on best practices, Basware has helped some of the world’s leading companies address pressing finance concerns and ensure visibility and control over the financial value chain.  This helps companies better manage spend and strengthen supplier relationships, while reducing risk.”

Basware’s innovative purchase-to-pay solutions are based on 20 years of technology expertise and incorporate the best practices of all of its customers.

“The 2010 Software 500 results show that revenue growth in the software and services industry has been healthy,” said John P. Desmond, editor of Software Magazine and “Results of our ranking prove that innovation in the software industry is alive and well and we look forward to continued growth among the world’s largest software companies.”

About Digital Software Magazine, the Software Decision Journal, and
Digital Software Magazine, the Software Decision Journal, has been a brand name in the high-tech industry for 30 years., its Web counterpart, is the online catalog to enterprise software and the home of the Software 500 ranking of the world’s largest software and services companies. Software Magazine and are owned and operated by King Content Co.

About Basware
Basware is the global leader in purchase-to-pay solutions with more than 1,500 customers and 1,000,000 users in over 50 countries around the world. With Basware, organizations can reduce the cost of buying and paying for goods and services and gain visibility and control of their entire spending process by automating manual processes, from sourcing, contract management, purchasing and supplier collaboration to invoice automation.  Basware solutions and services enable substantial cost reductions across businesses and deliver value by providing compliance and control, as well as fast return on investment. The solutions are distributed and implemented, either on site or as a service, in Europe, the U.S., and Asia-Pacific through an extensive network of Basware offices and business partners.

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