SANTA BARBARA, Calif., Jan. 24, 2018 -- QAD Inc. (Nasdaq: QADA) (Nasdaq: QADB), a leading provider of flexible, cloud-based enterprise software and services for global manufacturing companies, today announced that it has signed a partnership with leading Source-to-Pay (S2P) solution provider Basware, to provide QAD customers with access to the world's largest electronic invoicing (e-invoicing) open network.
"This strategic partnership with Basware will allow QAD to provide its customers with access to a best-of-breed solution to exchange electronic invoices with their customers and suppliers," said QAD Chief of Global Field Operations, Anton Chilton. "I am very excited about the value our customers will receive combining Basware's over 30 years of experience in electronic invoicing and QAD's expertise in system integration. An increasing number of companies globally are implementing e-invoicing initiatives and regulations. We view the rise of e-invoicing as an opportunity for global manufacturers to achieve higher levels of automation and an opportunity for QAD to help our customers with their journey toward the Effective Enterprise."
Headquartered in Finland, Basware brings 32 years of e-invoicing experience to the partnership. The Basware solution features high levels of automation in electronic invoice processing and is tightly integrated with QAD Cloud ERP.
"We are equally excited about this strategic partnership and see that QAD is showing the way to the ERP industry by embedding Basware Network as an integral part of their offering. We are confident that e-invoicing will provide significant efficiencies and advantages to QAD's vast global customer base," said Mikko Pilkama, senior vice president of Basware Network and Financing Services. "QAD customers can enjoy a totally seamless integration of their ERP system and Basware Network service using the latest state of the art REST API technology, get access to over a million companies across 100+ countries, and link themselves with more than 250 interoperability partners across the globe."
QAD works with its partners to better service companies across the world. QAD partners provide breadth, depth and reach, strategically extending QAD's capabilities, functional expertise and global presence. The QAD Global Partner Network includes over 100 partners including hardware platform manufacturers, operating system vendors, software and database developers, solution resellers, system integrators and service organizations.
Basware is the global leader in providing networked purchase-to-pay solutions, e-invoicing and innovative financing services. Basware's commerce and financing network connects businesses in over 100 countries and territories around the globe. As the largest open business network in the world, Basware provides scale and reach for organizations of all sizes, enabling them to grow their business and unlock value across their operations by simplifying and streamlining financial processes. Small and large companies around the world achieve significant cost savings, more flexible payment terms, greater efficiencies and closer relationships with their suppliers. Find out more at www.basware.com.
Follow Basware on Twitter: @Basware, join the discussion on the Basware LinkedIn, Basware Facebook and Basware Blog.
About QAD – The Effective Enterprise
QAD Inc. (Nasdaq: QADA) (Nasdaq: QADB) is a leading provider of flexible, cloud-based enterprise software and services for global manufacturing companies. QAD Cloud ERP for manufacturing supports operational requirements in the areas of financials, customer management, supply chain, manufacturing, service and support, analytics, business process management and integration. QAD's portfolio includes related solutions for quality management software, supply chain management software, transportation management software and B2B interoperability. Since 1979, QAD solutions have enabled customers in the automotive, consumer products, food and beverage, high tech, industrial manufacturing and life sciences industries to better align operations with their strategic goals to become Effective Enterprises.
To learn more, visit http://www.qad.com or call +1 805-566-6000.
"QAD" is a registered trademark of QAD Inc. All other products or company names herein may be trademarks of their respective owners.
Note to Investors: This press release contains certain forward-looking statements made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding projections of revenue, income and loss, capital expenditures, plans and objectives of management regarding the company's business, future economic performance or any of the assumptions underlying or relating to any of the foregoing. Forward-looking statements are based on the company's current expectations. Words such as "expects," "believes," "anticipates," "could," "will likely result," "estimates," "intends," "may," "projects," "should," "would," "might," "plan" and variations of these words and similar expressions are intended to identify these forward-looking statements. A number of risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. These risks include, but are not limited to: risks associated with our cloud service offerings, such as defects and disruptions in our services, our ability to properly manage our cloud service offerings, our reliance on third-party hosting and other service providers, and our exposure to liability and loss from security breaches; demand for the company's products, including cloud service, licenses, services and maintenance; pressure to make concessions on our pricing and changes in our pricing models; protection of our intellectual property; dependence on third-party suppliers and other third-party relationships, such as sales, services and marketing channels; changes in our revenue, earnings, operating expenses and margins; the reliability of our financial forecasts and estimates of the costs and benefits of transactions; the ability to leverage changes in technology; defects in our software products and services; third-party opinions about the company; competition in our industry; the ability to recruit and retain key personnel; delays in sales; timely and effective integration of newly acquired businesses; economic conditions in our vertical markets and worldwide; exchange rate fluctuations; and the global political environment. For a more detailed description of the risk factors associated with the company and factors that may affect our forward-looking statements, please refer to the company's latest Annual Report on Form 10-K and, in particular, the section entitled "Risk Factors" therein, and in other periodic reports the company files with the Securities and Exchange Commission thereafter. Management does not undertake to update these forward-looking statements except as required by law.