Is your company growing? Are you doing business in more than one country? If yes, then read on…
VAT compliance, e-invoicing mandates, legal requirements – global companies face a myriad of regulations when it comes to purchase to pay. Technology is bringing the world closer every day and if you want to future-proof your business, you need to ensure your purchase-to-pay solution is one that can scale with you. This is where global deployment suitability comes in.
What is global deployment suitability?
Global deployment suitability describes how well-equipped a purchase-to-pay solution is for implementation and support across multiple geographies. Multinational organisations typically have complex purchase-to-pay requirements, including:
- A multilanguage user interface that is intuitive for a global workforce, along with multilanguage technical assistance that is broadly available
- Multi-currency transactions
- Tax compliance so invoices can be sent and automatically converted to meet country-specific VAT/tax regulations around the world
Why is global deployment suitability important?
The best way to streamline operations, spend smarter, and ensure return on your investment is to roll-out your purchase-to-pay solution to all locations across the globe and ensure that it gets adopted world-wide. For example, what if you’re doing business in Mexico and your technology partners lacks invoice validation with the Mexican government? That will force you to utilize a separate vendor to fulfill your requirements, adding cost and fragmenting your financial data across multiple systems. Then, think about all the other requirements in every individual country – specific invoice formats, legal and tax requirements, proper invoice storage and archiving rules, etc. If you don’t choose a solution that has functionality to automatically take care of those aspects for you in multiple countries, your Accounts Payable team will have to keep up with all the regulations and ensure compliance manually. And if you’re not offering local language support, getting everyone to use the system the right way will be an immense challenge. In the end, you’ll be left with two outcomes: costly operations and risk exposure – both of which can be eliminated by choosing a suitable global solution.
What do the experts say?
Research firms have encouraged purchase-to-pay buyers to closely examine vendors’:
- Implementation experience outside of North America and Europe, noting that the complexity of invoicing requirements in Latin America can be a major issue
- Country-specific tax engine plug-ins and the availability of local support in languages required
- Invoice storage and retention capabilities to meet legal and tax audit requirements in multiple countries
Recently, Gartner named Basware a leader for the third consecutive time in the 2018 Gartner Magic Quadrant for Procure-to-Pay Suites, noting our global deployment suitability.
How does Basware handle global deployment?
Basware is widely recognized for its ease of global deployment, superior technical support, and consulting capability spanning the globe. Basware works with a broad array of international companies, with over 100 purchase-to-pay customers surpassing $1 billion in revenue headquartered in 13 different countries. We pride ourselves on being the leading invoice automation solution for global organisations and being a proven leader in supported VAT-related invoicing requirements across Europe and Latin America, including recent B2G mandates like Italy’s.
Our purchase-to-pay suite:
- Offers more languages (24) than almost any other solution
- Currently processes compliant e-invoices in 55 countries (12 via partner), including Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador, Peru and Uruguay
- Supports the most common Latin American invoice requirements – including those for NFe, CTe, CFDI and DTE – and our notifications from tax and regulatory authorities allow us to adjust to any changes in the environment
- Has multilingual teams in multiple countries for supplier onboarding and consulting across the world, while also providing technical support in 8 languages
Ready to learn more?
Read the 2018 Gartner Magic Quadrant for Procure-to-Pay Suites to learn more about our strengths as a global purchase-to-pay solution provider and reach out – we’re here to help!