Procserve was established in 2006 to develop and run the UK’s government emarketplace. Today, the Procserve Commerce Network does more than £3billion of transactions and is used by more than 33,000 organizations that buy, sell, and share information within online communities. The deal will expand Basware’s public sector business and give government bodies greater access to e-commerce services, Basware representatives said.
The commerce networks of both organizations will complement each other and enable government bodies to operate more efficiently by automating the purchase-to-pay process, freeing up time and money that can be invested in frontline services, the companies said.
“We have witnessed a continued push from governments and [the] public sector to adopt e-invoicing, as the technology is becoming more commonplace and the benefits are realized more widely,” Esa Tihilä, CEO of Basware Corporation, said in a statement announcing the acquisition. “Procserve has a very strong and recognized position within the public sector and among e-procurement service providers and is a well-known service provider among governmental entities in the UK.”
As part of its public sector strategy, Basware recently joined the UK government’s G-Cloud Digital Marketplace. Basware’s presence on G-Cloud 6—the latest iteration of the framework—will make it easier for public sector bodies to procure Basware solutions and deliver back-office savings through payment automation. Procserve is also a part of the G-Cloud Digital Marketplace, and “the combined product portfolios of both organizations now represent the most comprehensive set of cloud-based payment and procurement solutions available to UK government bodies,” according to Basware representatives.
Basware’s Commerce Network connects buyers and sellers worldwide, with more than a million companies across 100 countries conducting transactions regularly.