Basware to focus its strategy for strong international growth

January 25, 2011  |  Invoice Automation

Basware230x200Basware’s Board of Directors and company management have adjusted the company’s strategy and goals for the next 4-year period. The company will focus strongly on international growth and therefore Basware is considering to raise additional equity financing from the market.

The company aims to be the leading e-invoice company worldwide. Acquisitions will support the growth of the e-invoicing service. Its annual volume in 2010 amounted to 13.6 million transactions. The e-invoicing market is growing strongly, and Basware aims to reach the 100 million invoice mark by 2014.

Some key points from their strategy:

  • In order to support international growth, Basware is developing its organizational structure into stronger geographical regions.
  • Rearranging its product and business portfolio in order to enhance the international product and service business.
  • Transferring the installations of existing customers through product updates to Software as a Service (SaaS) model
  • Offering new and more extensive service models to the customer
  • Adjusting its pricing model to be very flexible according to customer needs. Software solutions will be available with one-time license fee, monthly subscription, according to the SaaS model.
  • Increasing the focus on acquisitions in its strategy and organization
  • Offshoring operations will continue to grow with investigating the possibility of new geographical regions in expanding offshoring

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