Basware Commerce Network reaches 100 million network transactions, reinforcing the growth of the e-invoicing business and adoption

Basware, the leading provider of e-invoicing and purchase-to-pay solutions, continues to achieve record growth, with 100 million annualised e-invoice and purchase order transactions sent and received across the Basware Commerce Network, the largest open business network in the world. This milestone highlights the success of Basware's commitment to helping businesses unlock the value in their financial operations.

For over a decade, Basware has been the driving force behind a rapidly growing business ecosystem designed to connect e-invoicing and e-ordering networks globally. Today, the Basware Commerce Network connects with over 200 B2B (business-to-business) networks, allowing customers to transact seamlessly wherever they do business. The benefits of interoperability between networks to speed up the adoption of e-invoicing are obvious. This network ecosystem enables e-invoices to be sent and received between governments, businesses and suppliers and thus speeds up cash flow and creates a more stable economy. Although growth rates for e-invoice adoption have been approximately 20 per cent in recent years, recent mandates by the EU and US for B2G (business-to-government) e-invoicing are expected to accelerate adoption.

“The Basware Commerce Network is the easiest way to do business. It helps you grow your business and manage cash flows. A great example of the power of our open network is Basware Financing Services, adding real value to organisations in the Basware Commerce Network. This might mean creating and initiating a new payment programme, setting up dynamic discounting or financing your receivables. Through the Basware Commerce Network, organisations are able to make or take payment as cash flow requires. This agility creates competitive advantage and directly impacts the bottom line,” says Esa Tihilä, CEO, Basware.

“In addition to companies, governments are realising the benefits of connected commerce and are mandating e-invoice adoption. By going paperless, governments can also speed up their invoicing and payment processes significantly. This faster moving capital impacts on the strength of the economy in terms of trade and GDP,” Tihilä continues. “Forward-thinking governments and companies across the world implement e-invoicing as a way of improving cash flow, ensuring smoother payment cycles and building stronger relationships between buyers and suppliers across supply chains.”

The Basware Commerce Network is open to all – there are no expensive memberships, unfair fees or participant lock-in. Today, the network connects over one million companies and governments across more than 100 countries. Because the network is comprised of over 200 other networks, customers of one network can e-invoice customers of another network and vice versa. This ability to ‘roam’ is just one more reason why the Basware Commerce Network, and other open networks are growing faster than closed networks.

More information:

Join the Network: http://www.basware.com/global-business-network-basware

About Basware

Basware is the global leader in providing purchase-to-pay and e-invoicing solutions in the world of commerce. We empower companies to unlock value across their financial operations by simplifying and streamlining key financial processes. Our Basware Commerce Network, the largest open business network in the world, connects 1 million companies across 100 countries and enables easy collaboration between buyers and suppliers of all sizes. Through this network, leading companies around the world achieve new levels of spend control, efficiency and closer relations with their suppliers. With Basware, businesses can introduce completely new ways of buying and selling to achieve significant cost savings and boost their cash flow.

Find out how Basware helps money move more easily and lets commerce flow at www.basware.com.

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