Basware Oyj

M&A Activity • Jun 26, 2012

Disclosure 300637

BasWare - Company Announcement

Basware and Finnair extend the cooperation to purchasing, invoice processing and banking service solutions

Basware Corporation stock exchange release, June 26, 2012 at 16:00 Basware and Finnair extend the cooperation to purchasing, invoice processing and banking service solutions Basware and Finnair have signed a six year contract including purchasing, invoice processing, banking and business transactions solutions as a service. The value of the deal is significant for Basware. During the contract period and with the help of new solution, Finnair will achieve the set cost savings targets in comparison with the current way of operation. The new solution will be implemented during the second half of 2012 and the first half of 2013. Finnair has also previously been using Basware's license based solutions."Finnair is aiming to streamline the purchasing and financial management processes as part of the company's cost reduction program. Basware's solutions enable better control over the purchases and improvement in cost efficiency. In addition, the solutions enable automation of invoice handling and business transactions. With the help of these services, the Finnair employees can be directed more from performing routine work to developing processes", says Jari Huhtinen, Vice President, Procurement, Finnair Plc."We are happy to be able to extend our existing cooperation with Finnair and deliver our solutions to Finnair as a service. With the delivered services Basware enables the electronic and fully automated purchase to pay process for Finnair", says Esa Tihilä, CEO, Basware Corporation. The contract covers Basware Transaction Services including scanning and transaction services for incoming invoices, printing and transaction services for outgoing invoices and Catalog Management. The solutions delivered as a service include Purchase Management (PM), Invoice Processing (IP), RFx Management, CLM Contract Lifecycle Management, Contract Management (CM), Order Matching (OM) as well as Travel & Expense Management (TEM) and Banking solutions. More information: Esa Tihilä, CEO, Basware Corporation Tel. +358 40 480 7098 Distribution: NASDAQ OMX Helsinki Ltd Main media [HUG#1622068]