Supply & Demand Chain Executive Recognizes Basware for Top 100 Supply Chain Transformation Projects

STAMFORD, Conn., May 4, 2011 – Basware, the global leader in purchase-to-pay
solutions, today announced that a customer implementation of its Invoice Automation
solution has been recognized by Supply & Demand Chain Executive as a top
100 supply chain transformation project in the publication’s “100
Great Supply Chain Projects” awards program. By standardizing on Basware’s
Accounts Payable (AP) technology in its Shared Service Centers worldwide, a
global leader in the power industry has been able to adopt end-to-end
electronic processes, achieve real-time visibility over all of its invoices,
and ensure efficiency and reliability in its AP processes.

Using Basware Invoice Automation, the company has been able to obtain significant
process improvements and implement global best practices to achieve higher levels
of automation. The solution has enabled the global leader to cut in half the
processing time of millions of invoices annually, and currently some of the
company’s group units are able to achieve 60% fully automatic, straight-through
processing without any manual intervention. Additionally, the flexibility of
the Basware solution to adapt to local variations of the organization’s
accounts payable process and regulatory environment has enabled it to implement
the solution in 19 countries, with more planned over the next couple of years.

”We are honored to be recognized for our work in helping to transform
the financial supply chain,” said Ari Salonen, general manager, North
America for Basware. “We work closely with our customers to promote the
innovative application of technology and best practices to help them achieve
higher levels of automation, and our solutions have had a critical impact on
their businesses.”