Basware signs accounts payable and e-invoicing agreement with GKN Driveline in the US

Basware Corporation, stock exchange release, February 9, 2016 at 12:00

Basware signs accounts payable and e-invoicing agreement with GKN Driveline in the US

Basware has signed an agreement for the delivery of accounts payable and e-invoicing services with GKN Driveline North America, Inc. ("GKN Driveline"), a new customer in the US. The solutions are powered by Alusta, Basware's unified cloud-based platform for purchase-to-pay. The agreement includes accounts payable automation with 100% inbound e-invoicing and supplier activation services. Basware is also providing Basware Analytics for gaining immediate insight into financial performance and a mobile solution, which gives access to financial processes regardless of time and place. The value of the agreement exceeds EUR 1.1 million over five years.

"We are excited to form a strategic partnership with this new major customer and provide services that enhance their financial operations and boost the e-invoice adoption significantly among their suppliers. GKN Driveline can easily and securely receive 100% of their invoices as e-invoices via the open Basware Commerce Network. Visual reports will help the management to make better decisions, while mobility benefits end-users who can review and approve invoices on the move", says Esa Tihilä, CEO, Basware Corporation.

About GKN Driveline
GKN Driveline is the world's leading supplier of automotive driveline components and systems. As a global company serving the world's leading vehicle manufacturers, GKN Driveline develops, builds and supplies an extensive range of automotive driveline components - for use in the smallest ultra low-cost car to the most sophisticated premium vehicle demanding the most complex driving dynamics. GKN Driveline is a leading global producer of CVJ Systems, AWD Systems, Trans Axle Solutions and eDrive Systems and operates in 22 countries at 45 locations employing approximately 26,500 people.

For more information, please contact:

Esa Tihilä, CEO, Basware Corporation
Tel. +358 40 480 7098

Nasdaq Helsinki
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