Basware Reaches Milestone of 100 Global Partners Connected to Basware Open Network for e-Invoice and Purchase Message Transactions

STAMFORD, Connecticut, October 27, 2010 /PRNewswire/ -- Basware, the leading provider of purchase-to-pay solutions, has further expanded its Open Network for e-invoice and purchase message transactions by achieving the significant milestone of 100 partners across the globe. New partners include First Businesspost in Germany; Unified Post in the Netherlands; and Inovis, part of the world's largest e-commerce company GXS in the UK and the U.S. The Basware Open Network, which connects buyers and suppliers by forming interoperability agreements with local and global e-invoicing partners, has to date supported more than nine-million global transactions in 2010.

The Basware Open Network's support of multiple data formats ensures that any supplier, buyer or third-party vendor can join, regardless of whether proprietary technologies are in place or not. This uniquely open model addresses the pitfalls associated with other highly fragmented industry offerings, where every buyer uses a different standard and data format - and where even a modestly sized business cannot hope to meet the requirements of every one of their customers.

Through the Basware Open Network, e-invoices and purchase messages can flow smoothly from any supplier to any buyer through any provider of e-invoicing services - all via a hub designed specifically to overcome this fragmentation issue. Interoperability agreements now exist between Basware and more than 100 of the 500 operators, with many more scheduled to be added throughout the rest of 2010 and 2011.

"The key to realizing the full benefits of e-invoicing is the ability for organizations to transact globally with ease and efficiency," said John Webster, VP Global Product Marketing at Basware. "Buyer and supplier organizations need to choose their e-invoicing network provider carefully, as traditional e-invoicing network models have focused on enforcing connections within their own closed networks, often optimized only for specific regions or industries and typically supporting only proprietary document formats. This traditional closed model exacerbates the fragmented landscape and can expose locked-in companies to arbitrary and enforced price increases. To combat this, and also mitigate the risk of significant fee increases, Basware enables suppliers to connect to the Basware Open Network either directly or through existing local operators. The Open Network automatically processes e-invoices to the buying organization regardless of its own operator, location or document format standards," Webster added.

"Our Open Network is truly global, and we now have more than 100 out of 500 operators connected around the world," said Ari Salonen, general manager, Basware North America. "It is fully interoperable - all of these operators have worked with us to ensure that their own networks can share data smoothly with ours. By supporting more than 50 data formats, we ensure that buyers and suppliers have as much flexibility as they need. Our unique approach is transforming a highly fragmented global industry by removing the final barriers to global adoption of e-invoicing, and providing the key enabler for large organizations looking to reap the benefits of e-invoicing. Through our Open Network, suppliers and buyers can co-exist in harmony and no longer have to navigate their way around a multitude of closed networks and standards."

For more information on Basware e-invoicing solutions, visit http://www.basware.com.

    Basware's e-invoicing partners are listed at:
http://www.basware.com/e-invoicingnetwork.

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. http://www.basware.com. The company's U.S. business, Basware, Inc., is headquartered in Stamford, Conn. More information can be found at www.basware.com/us.

The Basware name is a registered trademark of Basware Corporation. The Basware logo is a trademark of Basware Corporation.

All other product and service names mentioned herein are trademarks of their respective companies.

SOURCE Basware Corporation