Basware’s strategic goal is an annual 20 – 40 percent increase in turnover and a 10 – 20 percent trading profit margin during the years 2007 – 2010. The company is seeking rapid and profitable growth from strategic market areas as well as from new markets and through new distribution channels and new products.
Basware’s business activity during the years 2007 – 2010 will be profitable overall. Business activity will be profitable over the medium term also in the firm’s strategic market areas in the United States, Great Britain and France. Basware is concentrating on its purchase to pay business activity.
Vision
Basware’s goal is to be, by the year 2010, the leading software supplier of purchase to pay process solutions in its strategic market areas of the United States, Germany, Great Britain and France. Basware has a long-developed and unique purchase to pay product family. These solutions are easy-to-use, fast to implement, and will have a million users in a total of 50 countries by the year 2010. Basware will operate in all significant international markets and will have over ten subsidiaries and a total of 150 resellers
on the global level.
Strategic projects
Basware sharpened the focus of its growth strategy with five strategic projects which were approved by the Board of Directors in October 2007. Through these strategic projects, the attempt is to achieve the company’s set targets and to show the direction for the firm’s operative business activity. Basware is advancing via these five strategic projects towards its vision for the year 2010.
Dominating the US
Basware is striving to achieve a dominant position in the United States on the purchase to pay market. Basware is seeking highly dynamic growth from the US, which offers excellent growth prospects from the company’s perspective. The United States is, globally speaking, the most significant market area for business software, but electronic solutions in the handling of invoices and procurement management in the country are only at the outset of their lifecycle. Basware is investing considerably in the construction of its sales organization in America and the development of its resale channel there.
Conquer the base
Basware continues on a steady growth path in its more mature markets where customer satisfaction is improved through an extensive service concept and the development of value-added modules that better meet customer requirements continues. The service concept will first be implemented in the Nordic markets after which it will be implemented also in other market areas.
Must-have brand and thought leadership
Basware is investing a great deal in consolidating the company’s ready recognition and brand name in its strategic markets. The company is rising to the position of global ‘thought leadership’ in the purchase to pay field. This thought leadership is based on Basware’s pioneering product development and the product leadership of its purchase to pay product family. Basware has the most versatile, highly user-friendly and fast to implement software family on the market.
Five global giants per year
The company is seeking rapid and profitable growth from cooperation with large international businesses. There is abundant growth potential available in large companies on the purchase to pay market. In 2007, Basware secured a clearly greater number of large international corporations into its client base than previously. Basware is developing its products to be more efficient so that they suit the requirements of large organizations. Basware’s competitive edge is found in its versatile and easy-to-use product family. The goal of the company is to obtain at least five new international large-scale enterprises as customers each year.
Joint forces
As a medium-sized international software company, Basware is seeking quick growth from strategic and new markets via its reseller channel. Basware is tightening up its cooperation with its resellers in all its market areas. This cooperation is under continuous development, and high-quality training is also being offered to the company’s partners. The reseller channel is being significantly strengthened at the same time. The company had resellers in over 60 countries at the end of the year.