~ Strategic partnership connects automotive companies with suppliers and partners in China to reduce e-invoice processing time by an average of 10-15 days ~
Espoo, Finland, September 5 , 2013 – Basware, the leading provider of e-invoicing and purchase-to-pay solutions, has partnered with CEDEX e-Autohub, a Chinese supplier network, to connect automotive manufacturers in Europe and North America with suppliers in China. With this partnership the Basware Network, the largest B2B network in the world with 54 million transactions annually, and the largest Chinese automotive network have combined to drive the exchange of electronic invoices in the automotive industry. The agreement simplifies purchasing, accounts payable and invoicing processes to deliver better control, efficiency and cash flows.
The partnership strengthens the global automotive supplier network by facilitating the exchange of electronic invoices, speeding up and making processes more transparent, whilst ensuring compliance with local regulatory requirements. CEDEX e-Autohub ensures that the invoices of Chinese suppliers meet the respective local requirements of customers in Europe and North America, including the global invoicing standard used by major automotive manufacturers in the EU, US and Japan, prior to when invoices are sent.
"This is very important for our customers with existing or future business operations in China. They want to be able to rely on one consistent, standards compliant, e-invoicing solution across their whole supplier network. Through our connection to the CEDEX e-Autohub network we are the only global e-invoice provider that can guarantee this for the whole automotive industry. As part of the agreement, Basware customers like Daimler and BMW will be able to connect with CEDEX e-Autohub’s customers, and vice-versa, enabling expansion across respective supply chains,” said Hubert Hohenstein, Vice President Automotive at Basware. "This partnership makes handling supplier invoices easier, faster and more productive. With our combined networks, customers can receive supplier e-invoices safely and securely, directly into their invoice processing system, while we take care of the data validation, format conversions, legal compliance and if needed, digital signature verification. This formatting alone reduces invoice processing time by several days and minimises the burden for our customers and helps improve their cashflow positions.”
Today, the agreement enables the connection of 5,000 Basware and 2,500 CEDEX e-Autohub suppliers and customers, with this number continuing to grow.
"Together with CEDEX e-Autohub we are able to serve the fast growing Chinese automotive sector and offer the industry a compliant, reliable and secure way to exchange of e-invoices as well as access to the Basware Network to find new suppliers and buyers and create deeper trading relationships between those buyers and suppliers,” continued Hohenstein.
“Basware has been working with thousands of automotive suppliers and manufacturers, including Audi, BMW, Daimler, MAN and Volkswagen for many years, and our team has a deep knowledge and understanding of this unique industry. We know plenty about the complexities of e-invoicing in the automotive industry and adapted our solutions to accommodate these challenges," said Esa Tihilä, CEO of Basware. “Of course, we offer this expertise and knowledge to all our customers – across all industries. Through our Basware Network we connect over 160 e-invoicing service providers and over 900,000 companies globally, which all benefit from immediate electronic transaction collaboration with all their trading partners.”
From left to right: Hubert Hohenstein, Vice President Automotive at Basware; Mingguang Cheng, CEO of CEDEX, Andreas Eichler, Vice President of Transaction Services at Basware
For further information, please visit:
Basware solutions for the automotive industry: http://www.basware.com/solutions/industry-solutions/automotive
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China Enterprise online Data Exchange Services Ltd., also named as CEDEX in short, is a professional IP-based electronic data interexchange (EDI) services provider in the B2B e-commerce world. The management teams have expertise on Information Communication Technology and working experiences with China Telecom.
CEDEX was founded in 2005. At the end of 2006, CEDEX jointly build a China e-Autohub platform for China Automobile industry to provide EDI services for automotive OEMs and their supply chains globally. Now China e-Autohub has owned more than 10 automotive OEMs and over 2500 suppliers.
As a leading EDI services provider, which hold a value added telecommunications services licenses in China, CEDEX has developed many related software packages like ERP EDI Interface Adapter (DX0/DX1) and EDI based software products, such as CeA-SRM (Collaborative e-commerce Applications - Suppliers Relationship Management), ERP B2B data exchanger (EX6), EDI data mapping services, EDI data transmission Services and public internet security solutions and services.
CEDEX also provided its platform interfacing with other ERP systems, such as SAP, ORACLE, QAD, UFIDA, etc.
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 receivable.
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 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.