Purchase-to-pay vendor buys into Australia

Peter Dinham
Monday, 06 July 2009 17:55

IT Industry - Market

Finnish purchase-to-pay solutions provider, Basware, has acquired Australian-based TAG Services, its Australian/New Zealand distributor, for $2.25 million.

Basware’s senior vice president, global operations, Mr Esa Tihilä said today the purchase was for a fixed price and would be paid in cash to TAG Services, which had been distributing and implementing its enterprise purchase-to-pay solutions in the Australia/New Zealand region since 2001.

 Tihilä said that the acquisition allowed Basware to extend its global reach further and was now able to provide its customers with full support and services across all time zones. 

“Every business is about buying and selling something.  Even moderately sized businesses routinely conduct thousands or tens of thousands of transactions every year. In bigger enterprises, the number can be well into the millions. And whether they’re buying platinum or paperclips, every transaction generates the purchase orders and invoices that are the universal currency of the modern world.

“Tracking and managing these transactions is about more than just day-to-day maintenance of business basics. Organisations that do it well spend less money on running their businesses than their competitors do: they buy everything from their power to their food and IT more effectively, they manage their capital and cashflow more efficiently and they use their people more productively.”

According to Tihilä, Basware brings “vital purchasing and sourcing visibility to the finance department, ensuring that spending strategies meet the needs of the business while staying firmly under the CFO’s control.”

“In particular, it gives organisations of any size complete control over the entire lifecycle of a transaction – from the way it is ordered to the way that the final invoice is processed. Importantly, Basware is based on easy-to-use applications designed for non-professional buyers – anyone with experience of finance-based applications can get started with Basware quickly and painlessly.”

Helsinki-based Basware reports worldwide sales of 86 million euro last year, and claims more than 850,000 end-users of its automated purchase-to-pay process automation solutions.