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


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