Basware
![]() |
![]() | This article contains paid contributions. It may require cleanup to comply with Justapedia's content policies, particularly neutral point of view. |
File:Basware Corporate Logo.svg | |
Type | Julkinen osakeyhtiö |
---|---|
Nasdaq Helsinki: BAS1V | |
Founded | 1985 (as Baltic Accounting Systems) in Espoo, FIN |
Headquarters | Espoo, Finland , FIN |
Key people | Klaus Andersen, CEO Martti Nurminen, CFO[1] |
Revenue | ![]() |
![]() | |
Number of employees | 1,347 (2021)[2] |
Website | www.basware.com |
Basware Corporation (founded 1985) is a Finnish software company selling enterprise software for financial processes, purchase to pay and financial management. The company has operations in more than 70 countries worldwide. Basware’s markets include Nordic countries, Europe, North America and Asia Pacific. The company has its own subsidiaries in Scandinavia, Western Europe and the United States. Additionally, Basware has over 70 value added resellers in Europe.
History
1985–1999
Basware was founded in 1985. It was then a Finnish subsidiary of an American corporation and it was called Baltic Accounting Systems.[3]
The Finnish management team (Hannu Vaajoensuu, Ilkka Sihvo, Kirsi Eräkangas, Antti Pöllänen and Sakari Perttunen) bought the company in 1990.[3]
In 1992, Basware introduced their first Financial Management software. In 1997, the company introduced their first Invoice Processing software. It contained Scan & Capture Workflow for Invoices (e-Flow). The first international customer was in 1999, in Sweden.[4]
2000–
In 2000, the company had a public listing on the Helsinki Stock Exchange. They also introduced the first electronic invoicing, archiving and procurement products and intelligent OCR and got their first customers in Norway, Denmark and the Netherlands. Between 2001–2002, there were expansion into Central Europe, UK, USA and Australia.[4]
In 2005, Basware acquired Norway-based Iocore and Finnish Trivet Software, the following year they acquired Finnish Analyste and in 2007, UK-based Digital Vision Technologies Ltd.[4]
In 2008, Basware acquired Norwegian-based Contempus AS,[5] and the next year Itella's Norwegian invoice automation solution[buzzword] business [6] and TAG Services Pty Ltd in Australia.[7]
In 2010, Basware acquired TNT Post's Connectivity operations. Two years later, it acquired German e-Invoice network First Businesspost (1stbp) GmbH [8] and network and e-Invoicing business of leading Benelux operator Certipost.
In 2013, there were over 60 million transactions in the Basware Commerce Network. Basware acquired Certipost, the leading e-invoice operator in the Benelux.
In 2015, Basware acquired Procserve, a leading e-procurement operator in the UK [9] and the following year they acquired Verian, a leading e-procurement operator in the US.[10]
In 2020, Basware introduced InvoiceReady, a business unit that provides small and medium-sized businesses with its procure-to-pay technology.[11]
Products
Basware’s products are packaged composite applications (PCA) that are intended to interact with and complement the functionalities of existing systems, such as enterprise resource planning (ERP) systems, used across the organization to support daily processes. The company's software automates procurement, invoice receiving and invoice processing and can also be implemented as a software as a service (SaaS) delivery. These technologies are known as Cloud-Invoicing.[citation needed]
References
- ^ "Executive team". investors.basware.com. Retrieved 2020-04-30.
- ^ a b c "Annual report 2019" (PDF). Basware. Retrieved 2020-04-30.
- ^ a b Ihanus, Maija-liisa. "Menestyksiä: Hannu Vaajoensuu" [Success stories: Hannu Vaajoensuu]. Tivi (in Finnish). Retrieved 2020-04-30.
- ^ a b c Basware history Archived 2016-08-11 at the Wayback Machine
- ^ Basware Stock Exchange Releases Archived 2011-02-13 at the Wayback Machine
- ^ Basware Stock Exchange Releases Archived 2011-02-13 at the Wayback Machine
- ^ Basware Stock Exchange Releases Archived 2011-02-13 at the Wayback Machine
- ^ Hartig, Ossian. "Basware teki yli 12 miljoonan yrityskaupan Saksassa" [Basware made acquisitions in Germany worth more than 12 million euros]. Tivi (in Finnish). Retrieved 2020-05-01.
- ^ http://www.basware.com/investors/stock-exchange-releases/basware-acquires-uks-leading-e-procurement-solution-provider-for-the-public-sector-procserve
- ^ "www.bizjournals.com/charlotte/news/2016/03/31/basware-acquires-local-tech-firm-plans-to-hire-in.html". www.bizjournals.com. Retrieved 2017-11-15.
- ^ PYMNTS (2020-01-15). "Basware Shifts SMB Procurement Into New Unit". PYMNTS.com. Retrieved 2020-03-12.
- CS1 Finnish-language sources (fi)
- Webarchive template wayback links
- Articles with short description
- Short description with empty Wikidata description
- Articles needing cleanup from August 2022
- Articles with bare URLs for citations from August 2022
- All articles with bare URLs for citations
- Justapedia articles with paid content
- Wikipedia articles containing buzzwords from July 2019
- Articles with invalid date parameter in template
- All articles with unsourced statements
- Articles with unsourced statements from May 2020
- Software companies of Finland
- Procurement
- Financial software companies
- Companies listed on Nasdaq Helsinki
- Companies based in Espoo
- Financial services companies established in 1985
- 1985 establishments in Finland