Did you know that the global number of cars exceeded 1.015 billion in 2010, jumping from 980 million the year before? The automotive industry is huge and growing but with increasing car production in China it is also highly competitive. Manufacturers need to ensure all processes are consistent, quick and as accurate as possible. And that’s exactly what SEW-EURODRIVE is doing!
A family business founded in 1931 and one of the market leaders in automation, SEW-EURODRIVE, heavily relies on consistent processes to maintain its status at the forefront of the industry. To put this into perspective in the last fiscal year, it brought in roughly €2.4 billion in sales revenue – a huge organization with an emphasis on providing high-quality service.
The company had previously been invoicing with EDI for quite some time. However, the outdated VDA format that was being used, which was first developed by the German Association of the Automotive Industry, was beginning to prove problematic for its electronic invoices.
SEW-EURODRIVE needed to firstly switch customers who were still receiving invoices in the old VDA format over to EDIFACT. They then identified the need to harmonize processes for maximum speed and provision in Accounts Receivable, outsource invoicing to a service provider that could help streamline the invoicing process and, most of all, invoice existing customers with the latest e-invoicing technology.
Following a thorough review process and listening to its customers' recommendations, SEW-EURODRIVE decided Basware was the provider for them because of our expertise in e-invoicing and financial process automation. Our significantly large user base in the automobile industry also put us ahead of the competition.
SEW-EURODRIVE can now send electronic invoices to its customers according to defined requirements. With Basware’s Virtual Printer solution, data is automatically collected, converted, validated and sent to the recipients. With the previous process, the company had to manage the dispatch process itself, and with such a vast supply chain the complexity was unwieldy.
The company is now reaping the benefits of a robust invoicing process with zero IT errors, and subsequently they have recommended Basware to its customers in Germany and abroad. Not only does this spread the benefits of Basware to its customer base, it also improves the savings that can be achieved in order processing and invoicing for the company. A win, win situation!
And there’s more. Thanks to Basware’s Open Network, which enables electronic transactions around the globe supporting multiple data formats, SEW-EURODRIVE can send its invoices through the Basware service even when its customers are already connected to another e-invoicing service provider. The company is truly connected to a global open network for business collaboration, enabling easy expansion of its e-invoicing program to its individual national subsidiaries.
So what are you waiting for… buckle your seatbelt and prepare yourselves for the e-invoicing ride!