#Australia #Sydney #Basware #AP Automation #Redmap

Basware Acquires Redmap: Pioneering a New Era in Accounts Payable Automation

In a bold move to revolutionize accounts payable (AP) automation, Basware, a global frontrunner in Invoice Lifecycle Management, has announced its acquisition of Redmap, Australia's top provider in the same domain. This merger is poised to bring state-of-the-art, AI-powered solutions to middle-market and enterprise firms, thereby streamlining their financial processes.

A Strategic Partnership

According to Jason Kurtz, CEO of Basware, the complexities of today’s finance environments necessitate solutions that transcend traditional boundaries. The collaboration with Redmap is aimed at democratizing access to financial streamlining tools previously reserved for larger corporations. Redmap has been recognized for its ability to create tailored solutions for mid-sized firms and synchronized workflows with popular ERP platforms. This union is anticipated to facilitate innovation, enhance capabilities, and crucially, drive sustainable growth for clients.

Exploring the Market Potential

Australia, alongside the greater APAC region, presents a ripe market for the adoption of advanced invoice management systems. Recent legislation, including Australia's new Aged Care Act, is propelling organizations towards more efficient and compliant AP processes. Grand View Research forecasts that the AP automation market in the APAC region will escalate from $770 million in 2025 to approximately $1.4 billion by 2030. This acquisition positions Basware to take full advantage of this burgeoning opportunity.

Redmap's existing solutions serve an impressive portfolio of clients across diverse industries such as retail, mining, and aged care, enhancing their invoice processing speeds and boosting accuracy and financial visibility. Their noteworthy partnerships with companies such as Evolution Mining, Lowes Menswear, and Officemax illustrate the trust they have garnered in the market.

Leading with Innovation

The cornerstone of Basware’s offering is its Invoice Lifecycle Management Platform™, heralded as the premier AI-oriented unified invoice automation solution. With decades of innovation in accounts payable, Basware combines a colossal dataset with built-in compliance features and an open invoice network, empowering finance teams with comprehensive control and instantaneous visibility into invoice processes. Brands including DHL, Heineken, and Sony leverage this platform to manage over 230 million invoice transactions annually, showcasing its robustness.

Kurtz asserts that the merger enables businesses of all dimensions to engage with elite invoice automation solutions meticulously designed for their specific needs, whether they are utilizing SAP or Pronto Xi platforms.

Collaborative Efforts Yielding Results

Industry leaders have lauded the merger's potential. Chad Gates, Managing Director of Pronto Software, noted that the fusion of Basware's global capabilities with Redmap's local expertise represents a substantial advantage, allowing Australian businesses to benefit from refined and intelligent workflow automation that aligns seamlessly with market trends.

Ben Woolley, CEO of Redmap, expressed pride in their legacy while viewing this acquisition as a gateway to broaden their market reach and enhance their established ERP integrations on a global scale.

Future Prospects and Innovations

With the backing of Basware’s innovative technologies, Redmap is set to accelerate the development of its AP automation platform, which will pave the way for the evolution of intelligent financial solutions for its clientele. Woolley highlighted that this partnership not only augments capabilities but also provides exciting avenues for growth within the automation landscape.

The acquisition unfolds against the backdrop of Basware's previous takeovers, including Glantus in 2023 and AP Matching in 2024, revealing a strategic commitment to expand within the AP automation sector.

About Basware and Redmap

Basware stands as a beacon for finance leaders grappling with intricate invoice processes. Their comprehensive platform offers a one-stop solution for enhanced efficiency, error reduction, and adherence to regulatory changes. This has garnered the reliance of leading AP departments at thousands of organizations managing a staggering 220 million invoices each year.

On the other hand, Redmap has established itself as a preeminent provider of AP automation software specifically tailored for mid-market ERP systems. By facilitating intelligent document automation and workflow optimization, they endeavor to streamline AP processes and enhance operational efficiency for businesses in Australia.

In conclusion, the Basware and Redmap merger heralds a new chapter in invoice automation, promising to empower businesses in the AP landscape with innovative tools that cater to their evolving needs, thereby setting the stage for enhanced financial agility and success in the years to come.