Basware provides extensive e-invoicing solution to Vattenfall

Basware provides extensive e-invoicing solution to Vattenfall
Leading energy supplier selects Basware for its e-invoicing implementation

Basware, the leading provider of purchase-to-pay solutions, has announced that it will deliver an e-invoicing solution to Vattenfall, one of Europe’s leading energy suppliers, beating six companies in a competitive pitch. Vattenfall will deploy the Basware Business Transactions service for sending and receiving e-invoices, as well as Basware Supplier Portal to publish and download information and to complete transactions online.

Commencing this year, Vattenfall aims to convert 50% of its purchase invoices to e-invoices within 12 months, increasing to 65% in year two. Of the 17,000 suppliers Vattenfall uses on a yearly basis, 400 of these account for 60% of the invoices, and just 25 suppliers make up 30% of overall invoices. With a €20 billion turnover, it is essential for Vattenfall to be able to streamline its processes for prompt processing and payment. By shifting to e-invoicing, Vattenfall can accelerate payment times and reduce errors while speeding up processing and improving productivity by reducing manual workloads. Vattenfall has previously used Basware’s solutions for its operations in Finland.

“With over 7.3 million customers across Scandinavia, Germany, Poland and the UK and the use of 17,000 suppliers a year, it is important for us to make our invoicing processes more efficient.  E-invoicing is the key; drastically decreasing manual labour, increasing the quality of data, and enabling the business to become greener through a decreased physical paper trail,” said Anja Tollgård, IT Procurement Area Manager, Vattenfall. “Basware provided the ideal e-invoicing solution, and our previous experience with them in Finland, as well as their strong presence in the Nordics and the rest of Europe meant that we knew that they had the expertise to support a project on this scale.”

“As the emphasis for businesses is moving from cost-cutting to profitability, streamlining and automation of processes is becoming increasingly important,” said Esa Tihilä, SVP of Connectivity Services at Basware. “E-invoicing is an ideal way for businesses to achieve significant cost savings and gain complete control over cash flow while improving process efficiency in their finance departments, and also ensuring compliance and full auditing trails for the future.”

About Vattenfall
Vattenfall is Europe's fifth largest generator of electricity and the largest generator of heat. Vattenfall has offices currently in Denmark, Finland, Germany, United Kingdom, Poland, Netherlands and Sweden. Vattenfall is active at all stages of the electricity value chain - generation, transmission, distribution and sales. Vattenfall also generates, distributes and sells heat, and conducts energy trading and lignite mining. The parent company, Vattenfall AB, is wholly owned by the Swedish state. www.vattenfall.com 

About Basware
Basware is the global leader in purchase-to-pay solutions with more than 1,500 customers and 1,000,000 users in over 50 countries around the world. With Basware, organizations can reduce the cost of buying and paying for goods and services and gain visibility and control of their entire spending process by automating manual processes, from sourcing, contract management,  purchasing and supplier collaboration to invoice automation.  Basware solutions and services enable substantial cost reductions across businesses and deliver value by providing compliance and control, as well as fast return on investment. The solutions are distributed and implemented, either on site or as a service, in Europe, the US, and Asia-Pacific through an extensive network of Basware offices and business partners. www.basware.com

Press contact:
Octopus Communications
basware@octopuscomms.net
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Emilia Vaajoensuu
Communications Manager, Basware
firstname.lastname@basware.com