First Data's SpendTrend Conveys Optimism for Holiday Spending

by Tim Sloane 0

The globalcloud-based e-invoicing company Basware has had several busy weeks, announcingboth new volume peaks and new product modules. In late April, the companyannounced new volume benchmarks, reporting:

  • 50million e-invoice and e-order transactions sent and received across itsbusiness commerce network,

  • $420 billion spent annually on Basware CommerceNetwork, and
  • over 900,000 active buyers and suppliers tradingacross over 100 countries.

According to thefirm’s press release


“The growth of the Basware Commerce Network isbeing driven by a number of factors. Government and larger enterprise buyersare increasingly forcing suppliers to submit invoices electronically, commerceis increasingly cross-border as companies take an international approach, andbusinesses of all sizes are realising the cost and time-saving benefits ofe-invoicing.”

In May, Basware has had two successiveproduct announcements, the first introducing a new Analytics module, withsuperior graphics and data visualization tools, and then this week, a newpurchasing module that is intended to encourage employee adoption by mimickingthe consumer online buying experience.

Electronic invoicing is increasingly part ofan automated Procure-to-Pay supply chain, and Basware is among the Europeanleaders.

Based in Finland, Basware hasmultiple offices worldwide including a U.S. office in Stamford, CT.

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