E-Invoicing takes the wheel for automotive companies

Director, Center of Excellence, Global Sales

Is there an industry out there today that’s NOT undergoing rapid change? I don’t think so…

Though all of us are undergoing change, I think the automotive industry provides the best example of one that has had its foundations shaken to the core.

Basware has been working with several automotive manufacturers to help them restructure the ways in which they operate and engage with their thousands of suppliers. This need for change is driven by several fundamental shifts within the industry, and by the economic conditions surrounding it.

We have highlighted many of these issues in our new ‘Electronic Invoicing in the Automotive Industry’ white paper.

We look at how automotive companies can reap the benefits that Electronic Data Interchange (EDI) offers, without incurring the costs of rolling that system out to smaller suppliers. Smaller members of the supply chain, many of whom are playing an increasingly influential role in car makers’ success and profitability, often cannot afford an EDI investment. E-invoicing is the ideal way for manufacturers to address this deficit in supplier capabilities. The result is a drop in cost of financial processing and a rise in efficiency. In a rapidly evolving industry, this can mean the difference between success and failure.

Daimler, for example, has tens of thousands of suppliers - only a fraction of which use EDI. To establish the benefits of electronic financial processes, Basware worked with Daimler to introduce e-invoicing to the wider supplier network, especially to the long tail of suppliers. It’s low cost and effective – and it’s already making a difference to Daimler’s business.

From working with companies like Daimler, Audi and BMW, we understand the specific nature of these challenges in a great depth.

In this white paper we share our learnings with you. Read more about how the automotive industry has benefited from e-invoicing to get more suppliers on board, and learn how e-invoicing may help you too.

Category: E-Invoicing