BasWare - Company Announcement

Basware launches a productivity programme to simplify operations aimed at boosting cloud growth

Basware Corporation, stock exchange release, November 2, 2016 at 10:00

Basware launches a productivity programme to simplify operations aimed at
boosting cloud growth

Basware is today launching a productivity programme to simplify its operations
and increase scalability, aimed at accelerating the growth of its cloud-based
business and increasing productivity.

Basware has in the recent years undergone a major transition to become a cloud-
based services provider. On October 19,2016, Basware announced refinements to
its strategy targets, with strengthened focus on execution and an additional set
of actions to boost cloud growth and increase productivity by simplifying
operations and increasing scalability. These organization-wide activities
include focusing on sales and marketing, customer satisfaction and experience,
product development and partnerships, as well as growing and monetizing the
Basware Network and evolving Basware's culture and working methods to focus more
on performance.

Cloud revenue growth is Basware's primary objective and Basware will continue to
strengthen its leading market position in in order to grow cloud revenue and
address the challenges which other parts of the business are facing. The aim of
the planned actions is to optimize the company's operations to better support
its cloud-based business model.

The company aims to make productivity gains by simplifying its operations and
potentially by making personnel reductions affecting 130 employees globally. As
at the end of September 2016, Basware's global headcount was 1,881 employees.
The company is targeting annual savings related to personnel of approximately
EUR 7 to 8 million starting from 2018, in addition to other potential savings
through the programme. Basware is therefore exploring the possibility of making
personnel reductions which may affect operations in Finland and Belgium in
addition to other locations. Any labour negotiations will be executed in
cooperation with the personnel and in compliance with local legal requirements.

"Over the recent years, Basware's business operations have expanded
significantly organically and through acquisitions. Our market position is
extremely strong as the leading provider of networked purchase-to-pay solutions,
including e-invoicing and financing services. The market and customer demand for
cloud-based services has strongly increased and we have strengthened
particularly sales and marketing operations in our key markets, to accelerate
the growth of our cloud-based business," says Vesa Tykkyläinen, CEO, Basware
Corporation. "Basware's vision, view on the significant future potential of our
markets and our ability to capture that opportunity is unchanged. However, what
is required now is more focus on execution and customers. As a result of these
necessary actions, some of which are difficult, Basware will become more lean
and productive, and target and customer-focused."

For more information, please contact:

Investor enquiries:
Ben Selby, Head of Investor Relations, Basware Corporation
Tel. +358 50 305 8077, ben.selby@basware.com

Media enquiries:
Sirje Ahvenlampi-Hyvönen, Communications Director, Basware Corporation
Tel. +358 50 557 3822, sirje.ahvenlampi@basware.com

Distribution:
Nasdaq Helsinki
Key media
www.basware.com/investors

About Basware:
Basware (Nasdaq: BAS1V) is the global leader in providing networked purchase-to-
pay solutions, e-invoicing and innovative financing services. Basware's commerce
and financing network connects businesses in over 100 countries and territories
around the globe. As the largest open business network in the world, Basware
provides scale and reach for organizations of all sizes, enabling them to grow
their business and unlock value across their operations by simplifying and
streamlining financial processes. Small and large companies around the world
achieve significant cost savings, more flexible payment terms, greater
efficiencies and closer relationships with their suppliers. Find out more at
www.basware.com/investors.

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