Wednesday 8th April, 2015

Basware has acquired Procserve, a UK market leader in public sector e-procurement. The acquisition combines Procserve’s UK government experience with Basware’s established global expertise in purchase-to-pay and e-invoicing.

Headquartered in London, Procserve has been serving the UK government’s e-commerce strategy since 2006. Its eProcurement networks are used by over 33,000 organisations to buy, sell, and share information within online communities. The Commerce Networks of both organisations will compliment each other seamlessly and will enable government bodies to operate more efficiently by automating the purchase-to-pay process.

"We have witnessed a continued push from governments and public sector to adopt e-invoicing, as the technology is becoming more commonplace and the benefits are realised more widely," says Esa Tihilä, CEO, Basware Corporation. “Procserve has a very strong and recognised position within the public sector and among e-procurement service providers and is a well-known service provider among governmental entities in the UK."

The UK public sector has pledged to harness technology to drive efficiencies, and the expanded portfolio that Basware and Procserve now offer presents an opportunity for new synergies across electronic payment and procurement.

Nigel Clifford, CEO of Procserve, says, "On March 27, the Small Business, Enterprise and Employment (SBEE) Bill gained royal assent from the Queen, effectively signing the legislation into law. This paves the way for widespread adoption of e-invoicing and e-procurement in the UK public sector, so that, in the words of the bill, "there is a more efficient environment for suppliers and improved payment performance." By driving technology strategies underpinned by e-invoicing, the public sector can help to boost the economy, prevent fraud and ensure transparency across the millions of payments made by government bodies each year."