Press release

Basware Unveils Visible Commerce Initiative at Connect Conference

Sponsored by Businesswire

(Nasdaq: BAS1V)
, the global leader in networked source-to-pay
solutions, e-invoicing and innovative financing services, introduced a
provocative initiative at its annual user conference, Connect
, at The Langham, Chicago hotel. Basware SVP and General Manager
of North America, Eric Wilson, introduced “Visible
,” a call to action to embrace technology and data to create
better business, better society, and better humans. Basware defines
“Visible Commerce” as a transparent exchange of money, goods and
services where the availability of data empowers people to make
effective and ethical business decisions.

“Visible Commerce isn’t a pull from automation, efficiency and
convenience; it’s a push toward higher expectations from one person to
another,” stated Wilson. “Visible Commerce is believing that technology
and humanity are interdependent and not in competition with each other –
it’s a symbiotic relationship that enables us to be stronger and faster,
but we need to make certain that we are also better
because of it.”

By recapturing the human side of commerce companies can also recapture
visibility into who they are transacting with and at what true cost.

The foundation and principles of the Basware solution are quite uniquely
positioned to support a future world of “Visible Commerce.” Currently,
Basware empowers organizations with 100% spend visibility by enabling
the capture of all financial data across procurement, finance, accounts
payable and captures interactions between suppliers and buyers
throughout the source-to-pay journey. However, to get to true “Visible
Commerce,” companies can’t simply automate and capture their data, they
need to do so within the context of the world’s largest open commerce
network. That, in effect, turns the network into a powerful open
ecosystem providing true transparency into who is behind all that
transactional data in a detailed level, as well as what it all means at
an aggregate level.

“Our human connection is fading to the background as the person has been
effectively removed from the exchange. In effect, we’ve made business
none of our business,” continues Wilson. “We must not fall into the trap
of a zombie-like, blind way of transacting business. I’d like to
challenge us all collectively to embrace the benefits of technology
beyond its ability to make us faster and more efficient.”

Basware will continue to build out and expand the initiative in the
coming weeks and months. To see Eric Wilson’s presentation and video,
and to learn more, visit the Visible
Commerce website

About Basware

Basware offers the largest open business network in the world and is the
global leader in providing networked purchase-to-pay solutions,
e-invoicing and innovative financing services. Our technology empowers
organizations with 100% spend visibility by enabling the capture of all
financial data across procurement, finance, accounts payable and
accounts receivable functions. Basware is a global company doing
business in more than 100 countries and is traded on the Helsinki
exchange (BAS1V: HE).