Esa Tihila
CEO, Basware Corporation


In order to create a healthier financial environment that ensures cash flow and economic stability for organisations and countries, we need a disruptive force. The answer lies within alternative financing, which is seeing continued maturity around a range of technologies and innovative business models. At this week’s AltFi Europe Summit 2015, I had the opportunity to discuss this critical trend with industry peers.

P2P lending, crowd funding and the evolution of e-invoicing are all imperative building blocks to establish financial health and economic stability for organisations around the world. Disruptive technologies like these are also key for the growing number of investors who constantly seek new models and innovations to provide return on cash and minimise investment risk.

When it comes to e-invoicing, despite its unrivalled benefits, the technology is in its early stages. Market penetration for e-invoicing is less than 20 percent and many financial processes around the world are still manual. In other words, there are huge opportunities for the automation of finance. An important trend in making e-invoicing more mainstream is the increasing number of governments that realise the importance of digitising information.
Business-driven governments like these are key for the future.

The reason why the emergence of alternative financing models in e-invoicing is important is that they address critical issues such as on-time payment, discounting, factoring and automated payments. This is also why our services such as our Basware Pay and the newly launched Basware Discount will play a game-changing role going forward.

Innovations like these mean that organisations around the world can now execute on some of the needs they’ve had for many years: controlling, forecasting and boosting cash.  

Understanding the behavior of people has always been – and will always be – the key for innovating and creating disruptive forces. By understanding what buyers and suppliers want allows us to develop new services in alternative financing. Whether these services are driven by the need for better cash flow, mitigating risk or ensuring compliance, they all contribute to a bigger picture. Alternative financing options are the building blocks for a society characterised by economic stability and trust in commerce.

View also:

The panel discussion at AltFi Europe Summit 2015:
DISRUPTIVE 101- LOOKING AT LESSONS FROM OTHER DISRUPTIVE SECTORS