Basware Corporation, stock exchange release, January 23, 2015 at 13:00
Basware's strategy for 2015-2018
Basware's Board of Directors and management have updated the company's strategy
and objectives for the next four years. The key strategic objectives are: 250
million processed transactions and increasing the share of recurring revenue to
over 80% of net sales during the fiscal year 2018. During the strategy period,
the company will also pursue organic annual net sales growth of over 10 percent
and an operating profit of over 10 percent from 2016 onwards.
Basware has a leading portfolio of global networked purchase-to-pay solutions
spanning e-invoicing to innovative new financing services for organizations of
The Network Services business is expected to grow strongly during the strategy
period. Solution Services is expected to grow moderately and be strongly
profitable, thus creating a strong foundation for the company's growth.
Financing Services, launched in 2014, will further expand Basware's service
offering. The business is expected to commence during the latter half of 2015.
Strengthening Basware's position in the key markets and customer loyalty are
objectives shared throughout the company. The strategy focuses on accelerated
global growth both organically and through acquisitions. The strategy focuses on
accelerating the growth of Basware Commerce Network and maximizing the number of
transactions, creating new financing-related added value services and making
them available through digital channels, as well as maintaining global market
leadership in purchase-to-pay (P2P) solutions.
Network Services will focus on measures to maximize the number of transactions,
which include new virtual operator partnerships and increasing the efficiency of
supplier activation, as well as improving the availability of e-invoicing
services through automation and more extensive utilization of digital marketing
and sales channels. Basware will also continue to expand its network through
acquisitions in line with its strategy.
The P2P offering and its delivery and sales organizations, which are the focus
of the Solution Services business, have developed good readiness with Alusta
technology. Basware will continue to deliver its P2P offering both as hosted
SaaS and as an on-site license, the majority of the new business is expected to
come from the SaaS model.
Basware's Financing Services deliver new and innovative services for companies
of all sizes, combining invoice automation with financing services on the
Basware Commerce Network for buyers and suppliers. Financing services will be
provided in collaboration with selected partners. High volume and fast growth of
transactions in Basware Commerce Network provide a strong foundation for
offering real-time services that are more accessible, easy to use, and cost
effective than the currently available alternatives.
Basware will continue to revise its sales and marketing model. Direct sales and
marketing measures will be increasingly segmented according to carefully
selected segments and companies. Basware will continue to expand the usage of
multi-channeled digital services for marketing, selling and servicing its
customers. Investments in obtaining channel partners and business support will
The development of the solution and services portfolio is aiming to accelerate
the go-live of cloud based solutions and e-invoicing and e-procurement services
through product and process improvements and to make them available online to
improve efficiency and profitability.
For more information, please contact:
Esa Tihilä, CEO, Basware Corporation
Tel. +358 40 480 7098
NASDAQ OMX Helsinki Ltd