Basware has announced its acquisition of Redmap, an Australian provider of Accounts Payable (AP) automation software.
Following this announcement, Basware and Redmap are expected to deliver a portfolio of AI-driven solutions to middle-market and enterprise companies, aiming to give them the possibility to manage the entire invoice lifecycle.
The acquisition will also enable Redmap to accelerate and expand the development of its overall AP automation platform, while also leveraging Basware’s improved AI solutions in order to deliver secure and intelligent finance for its customers.
Driving the future development of the financial landscape
According to the official press release, the current financial environment is extremely complex, and organisations are required to leverage solutions to streamline and simplify financial processes. With this in mind, the acquisition is expected to deliver optimisation, capabilities, and resources often reserved for large enterprises, aiming to further develop finance organisations and accounts payable operations for these customers and drive long-term efficiency and growth.
Australia and the broader APAC region are expected to go through rapid adoption of invoice management solutions. Furthermore, as governments are currently pushing e-invoicing standards and companies adapt to regulatory standards, such as Australia’s new Aged Care Act, organisations and institutions across the region are seeking smarter, faster, and more compliant ways to manage growing invoice volumes. In addition, the Grand View Research values the 2025 market for AP automation solutions in the APAC region at USD 770 million and expects it to double to USD 1.4 billion by 2030. With the acquisition of Redmap, Basware aims to be positioned to capitalise on this opportunity.
According to officials of the companies, with the acquisition of Redmap, firms and institutions of all sizes will be given the possibility to access improved invoice automation solutions tailored to their specific needs and ERP systems. Moreover, whether a business is running SAP or Pronto Xi, Basware will focus on being a customer-first, partner-enabled provider that delivers purpose-built and secure solutions in order to further develop their AP operations.
