|[December 02, 2013]
Basware Empowers Leading Companies to Deliver the Sales 'E-invoicing Switchover'
ESPOO, Finland --(Business Wire)--
the leading provider of e-invoicing and purchase-to-pay solutions,
is championing the 'E-invoicing Switchover', helping businesses maximise
the number of electronic sales invoices they send. The initiative
emphasises the importance of an e-invoice rollout strategy to develop
better buying and selling processes.
Many international companies still struggle to establish consistent
electronic invoicing across their large and heterogeneous customer
bases. Many companies would like to receive 100% e-invoices, as they see
the efficiency, cost, visibility and cash flow benefits they can
achieve. The key to achieving this lies on the side of the invoice
sender, which is where Basware's initiative focuses.
Esa Tihilä, CEO of Basware: "There are multiple factors that point
companies towards e-invoicing, from customer demand to cost pressure.
Almost all companies hit a complexity barrier at some point.
Implementing these systems can be a complex process and encouraging
adoption from the whole buyer network can be tough. But these companies
cannot simply do what they've always done…otherwise they will be using
paper forever. This is why we're launching the E-invoicing Switchover.
We're championing the change that will help vendors by making it easy
for customers on the other end of the invoice and building an opt-out
process around e-invoicing. This helps make e-invoicing the default
standard for financial processing."
With this launch, Basware is offering large companies a 100% e-invoice
sending solution, introducing 'opt-out' as a new rollout method to
connect customers. Historically sending e-invoices has been affected by
a wide spectrum of local, legal or technical requirements, which have
been handled by locally operated e-invoicing providers. These local
requirements have been slowing down the growth of e-invoicing in many
countries. Through the customer onboarding process Basware is providing
the tools and services to tackle this.
The cornerstone of the E-invoice Switchover lies in selecting the
optimal e-invoice rollout strategy for multichannel e-invoice delivery
to recipients. To aid in this approach, Basware provides a free portal
that makes it easy for any company to go through this transition. In the
opt-out approach, the use of e-invoicing is assumed, and paper-based
invoices are only implemented for those that specifically request them.
In recent years, Basware's footprint in large scale global e-invoice
sending has been strengthened by the acquisition of Certipst in
Belgium, and 1stBusinessPost in Germany, as well as investment in local
and industry specific expertise. Together with the Basware Commerce
Network, which connects over 900.000 companies globally, the company is
primed to aid businesses in this e-invoicing switchover to enable faster
speed, better control, considerable cost savings and improved cash flow
forecasting possibilities while getting rid of paper.
"At Philips (News - Alert) we strive to optimise our internal processes to ensure
maximum energy savings and efficiency. One of the major projects we have
initiated in this regard is the delivery of electronic invoices,
replacing the paper version. This enabled us to bring our paper flow
down to a minimum, while providing the customer with the required
information in a fast and correct manner," said Lode Reyskens, ICT
business analyst at Philips.
"The Basware Commerce Network supports just about any international
invoice format and facilitate communication at all levels, such as via
Value Added Networks, or via the Internet. This enabled us to quickly
start sending electronic invoices to our integrated EDI partners. We can
easily deliver invoices to the customer in other formats too, e.g. on
paper or in PDF. That's why we are currently setting up a process for
delivery via other channels, so we can offer electronic invoices to all
Another example comes from Rutger Frissaer, e-Consultant at Staples (News - Alert)
Advantage: "Customers can choose between an interactive or an automated
way of working, depending on their profile and the number of invoices
"Our staff no longer have to waste valuable time creating invoices
manually, printing them, putting them in envelopes and mailing them.
They can therefore focus on more productive tasks. Furthermore, our
cash-flow position has improved thanks to a shorter DSO cycle (Days of
Sales Outstanding). Finally, we have also greatly reduced our paper
consumption and once the invoices have been sent, they are stored on a
secure electronic platform during the entire retention period."
The model can be tailored to suit each business environment and,
importantly, this does not require every business, customer and supplier
to be using the same e-invoicing tool. Customers who are not able to
receive e-invoices directly to their invoice processing system can
access their invoices directly from the Basware Portal after receiving
notification of the arrival of the new invoice via email.
A full e-invoicing approach enables a host of added benefits, including
monitoring and reporting, archiving and meeting local compliance
requirements. Furthermore, network services like the Basware Portal
provide a secure, easy to use e-invoice channel designed for companies
who have no capabilities or invoice processing systems to receive
e-invoices. Invoices can be viewed, sorted, stored and downloaded from
the portal, with any dispute or comment being easily handled from within
For further information, please visit:
Basware e-invoicing: http://www.basware.com/solutions/e-invoicing
Basware provides open, secure, cloud-based purchase-to-pay and
e-invoicing solutions to organizations of all sizes, resulting in
greater efficiencies in procurement, accounts payable and accounts
Companies across all industries, from small businesses to corporate
giants use Basware solutions to drive sustainable cost savings,
proactive insight to cash flows and improved buyer-supplier
relationships. The Basware Commerce Network is founded on the principles
of openness, where all types of organizations can collaborate and trade,
making it the largest in the world. Today we connect millions of
business users in 900,000 companies across over 100 countries.
Basware is the global leader in providing solutions for better buying,
better selling and connected commerce. Find out how Basware boosts
financial performance and profitability at www.basware.com.
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