Editor’s Note: This blog was originally posted on FRIDAY, 3 AUG 2018 and has been updated to reflect new information.
Is your company growing? Are you doing business in more than one country? Then it’s important you’re teamed up with a purchase-to-pay (P2P) vendor with a proven record of helping customers reach global goals. Read more to see why Basware’s global suitability is just one of the reasons we were named a Leader in the 2019 Magic Quadrant for Procure-to-Pay Suites report.
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 a clear vision of your organization’s future, you need to ensure your purchase-to-pay (P2P) solution is one that can scale with you. That’s where global deployment suitability comes in.
What is global deployment suitability?
Global deployment suitability describes how well-equipped a P2P solution is for implementation and support across multiple geographies. Multinational organizations 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
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 P2P 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 (AP) 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.
The experts are emphasizing it too
Research firms have encouraged P2P 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.
Because of our ability to provide these services, Gartner named Basware a Leader for the fourth time in the 2019 Gartner Magic Quadrant for Procure-to-Pay Suites. They noted our global deployment scalability as one of our strengths, along with our solutions’ usability and our extensive integration capabilities.
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 helps a broad array of international companies see the difference, 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 organizations and being a proven leader in supported VAT-related invoicing requirements across Europe and Latin America, including recent B2G mandates and PEPPOL requirements worldwide in countries like Australia and New Zealand.
See it in action with Toshiba
Toshiba TEC Germany Imaging Systems Gmbh (part of Toshiba, the global corporation) was struggling. High printing costs and a tedious, manual invoice sending process were negatively influencing both their profits and their customer relationships. That’s why they decided to implement Basware Purchase to Pay and introduce e-invoicing.
Toshiba felt that Basware provided them with a clear vision moving forward thanks to our global deployment suitability and experience with working with customers on a global scale. After implementing Basware, they captured cost savings through a more efficient Accounts Receivable (AR) processing and rekindled and improved customer relationships.
Learn more about Toshiba’s success in their case study.
Ready to learn more?
Learn more about our global capabilities and watch the brief video, “You're Global, We're Global.”