Basware’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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