Basware strategy update for 2010-2012
(Thomson Reuters ONE) - Strategy update: Interesting new opportunities in the market - newofferings and long term targets.Basware Corporation stock exchange release, November 17, 2009 at09:20Basware has updated its strategy for 2010-2012. The BaswareResponsive Strategy framework allows the company to act with agilityand sensitivity based on the company's situation, market trends andother changes. The Responsive Strategy framework includes follow-upand analysis of internal and external trends as well as the company'svision, mission and operating principles. Basware's operatingprinciples comprise of the company's values, corporate governance andresponsibility.Objectives - Global leader in Invoice automation, Procurement ande-invoicingThe company aims at maintaining its position as a leading globalsupplier of invoice automation and procurement solutions. Invoiceautomation growth is strongly supported by a new mid-market SaaS(Software as a Service) "pay as you go" -offering to selected highpotential markets.Basware aims also to become a leading company in e-invoicingworldwide. E-invoicing and supporting Connectivity Services are nowtargeted to connect suppliers and buyers also outside of Basware'sexisting software customer base leading into a higher potential.The company's long-term target is to grow annually more than 50% inSaaS, Connectivity Services and e-invoicing. SaaS, ConnectivityServices and e-invoicing are scalable models and offer an increasingprofit potential in the long run. The company's long-term target isto grow annually more than 10% in License Sales, Maintenance andProfessional Services. The target for operating profit margin isbetween 10% - 20%.Geographical growthThe regional focus for Basware remains unchanged with followingadjustments. All regions will have a centralized organization forincreased efficiency during this strategy period. In all regions thehigh growth of e-invoicing is supported with a wide range ofconnectivity activities.The North American segment is strategically the most important, andthe company focuses mainly on direct sales development in thismarket. As new focus areas in the North American market, the companywill target several new industry segments. For mid market Invoiceautomation growth a new SaaS "pay as you go"- offering isintroduced.In Central Europe, the UK, Germany and France will continue as thestrategic growth markets. Medium-sized businesses are approachedalso with SaaS with a new "pay as you go" -offering.The Northeast segment, covering the functions in Finland and Russia,will focus on Russia in terms of growth. Finland will maintain asolid position in the company's business with high profitability.In the Scandinavia segment (Sweden, Norway, Denmark), profitablebusiness growth will continue. Services offered to the currentcustomer base will be reinforced in both the Scandinavia andNortheast segments.In the Asia-Pacific segment, growth will focus on developed marketareas in the short term, such as Australia, and also other markets inthe area in the longer term.During the next few years, the company will reinforce its directsales operations and develop its partnership network towards a fewstrong partnerships.Basware will continue expanding its Indian unit, which will improvethe scalability, flexibility and efficiency of product development,for instance, and balance costs. During the next two years, thenumber of personnel (including product development and otherfunctions) is expected to more than double.Business operationsBasware's business operations consist of License Sales, Maintenance,Professional Services and Automation Services (e-invoicing,Connectivity Services and SaaS). They comprise of the BaswareEnterprise Purchase to Pay (EPP) product family and financialadministration products.Basware has further expanded its Automation Services offering withadditional functionalities in, e.g., e-invoice service, suppliermanagement and scan and capture services. Automation Servicessolutions are used in all market areas. The purpose is to increasethe automation rate of customers' functions and improve transparencyand predictability of profitability throughout the purchase to payprocess. Basware is one of the key drivers in transformation ofpurchase and invoice messages to fully electronic processing.According to Basware, internal processing of paper invoices incompanies will become obsolete. In practice, from the customer'spoint of view this means that customer companies are able tooutsource and automate functions that they have previously performedin-house.The company's target customer group will be expanded in selectedmarkets by productizing the offering to better serve the small andmedium-sized customers with the SaaS distribution model.Business acquisitionsThe company continues to actively screen potential acquisitiontargets. These include the strategic segments and the expansion ofAutomation Services in particular.The strategy presentation is available for download at Basware's Website at:http://www.basware.com/Investors/financials/presentations/Pages/default.aspxFor more information, please contactIlkka Sihvo, CEO, tel. +358 9 8791 7251 or +358 40 501 8251Olli Hyppänen, SVP, Strategy & Development, tel. +358 40 725 5816Distribution:NASDAQ OMX HelsinkiKey mediawww.basware.comThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 17.11.2009 - 08:19 Uhr
Sprache: Deutsch
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