Tuesday 30th April, 2013

Basware has reported record growth, with over 50 million e-invoice and e-order transactions sent and received across its business commerce network. Basware reports that customers commit to using their solutions because they enable easy connectivity to the network for companies of all sizes from any location. The company comments that this milestone has seen $420 billion spent annually on the Basware Commerce Network and over 900,000 active buyers and suppliers trading across over 100 countries.

Building on this success, Basware is launching three additional innovations within the Basware Commerce Network: Basware Portal for Receiving, Basware Portal for Tracking and Basware e-Invoice Email Lite. All have been designed to deliver on Basware’s strategy of enabling connected commerce for small, large and global businesses providing sustainable cost savings, proactive insight to cash flows and improved buyer–supplier relationships for all.

The growth of the Basware Commerce Network is being driven by a number of factors. Government and larger enterprise buyers are increasingly forcing suppliers to submit invoices electronically, commerce is increasingly cross-border as companies take an international approach and businesses of all sizes are realising the cost and time-saving benefits of e-invoicing. According to the 2012 Global E-Invoicing Study, approximately two thirds of businesses receiving true e-invoices via an e-invoice service provider reported a significant reduction in the costs of invoice processing.

Esa Tihilä, CEO, Basware, commented: "The adoption of e-invoicing is on the rise globally and we are already seeing growing numbers of businesses, from the micro through to large enterprises, taking advantage of the benefits e-invoicing can offer. Fully automated e-invoicing and purchase-to-pay is fast becoming the business norm".

He added: "This is directly impacting the number of buyers and suppliers sending and receiving invoices across the Basware Commerce Network, which allows companies to conduct business faster, more easily and more profitably. By building on Basware’s heritage and proven expertise in transforming purchase-to-pay processes for companies of all sizes, our goal is to maintain our position as the largest open business commerce network, processing over 150 million e-invoices by 2015."