Year 2018

Consolidated Financial Statements (IFRS)

Parent Company Financial Statements (FAS)

Basware in brief

Basware offers the largest open business network in the world and is the global leader in providing networked purchase-to-pay solutions and e-invoicing services. 

Global leader in networked

Our 1,400 professionals in 14 countries help our customers to simplify their operations and spend smarter. Already 2,500 companies in over 100 countries are using our solutions to solve their inefficient invoice processes, create cashflow visibility and put all spend under management.

Cloud revenues 63% of net sales

Basware’s net sales in 2018 were EUR 141 million (EUR 149 million in 2017). Cloud revenues amounted to 63% of total revenue and increased 11% from previous year’s level. Non-cloud revenue declined in line with expectations as customers moved to cloud-based solutions.

Cloud order intake EUR 21.5 million

In 2018 Basware’s total cloud annual recurring revenue (ARR) gross order intake amounted to EUR 21.5 million, increasing 20% from previous year’s level. Typically approximately 25% of new ARR order intake converts into revenue in the year that it is won, roughly 50-60% in the second year and the remainder thereafter.

A huge market opportunity

The current spend in Source-to-Pay market globally is estimated to be EUR 5 billion per year. However, as every organization in the world can benefit from Basware's solutions, the market opportunity is worth EUR 15 billion per year. As the leading networked Source-to-Pay provider, Basware is in a great position to capture the market demand. 

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