Basware Leads the Way in the Automotive Segment Globally

Monday, April 8, 2019

Basware Leads the Way in the Automotive Segment Globally

Hosts Automotive Forum in Germany

Espoo, Finland, April 8, 2019– Basware (Nasdaq: BAS1V), the global leader in networked source-to-pay solutions, e-invoicing and innovative financing services, hosted in March the first-ever Basware Automotive Forum in Munich, Germany. Attended by global automotive industry leaders, the forum was designed to find new winning concepts for Basware customers to develop their e-invoicing processes for increased efficiency, productivity and accuracy.

Basware is the leading global e-invoicing service provider for the automotive segment. For large, multinational automotive businesses, the Basware Network is the most scalable e-invoicing solution in the market.

“For example, in Germany, all renowned automotive original equipment manufacturers are already connected to our Automotive Network to send and receive e-invoices. The transaction rates and the whole community is growing year by year with double-digit figures. We support the standards of the industry and are a partner of the local and international standardization councils,” said André von de Finn, Sales Director, at Basware.

The large automotive organizations have onboarded their biggest suppliers for e-invoicing years ago, but most organizations are lacking capabilities to make the next step on their digitalization journey.

“The next phase is to enable e-invoicing or self-billing/ERS processes for all suppliers – including the ’long tail’ of suppliers with relatively low invoice volumes. Also, accounts receivable invoicing must move away from paper,” highlighted von de Finn.

Basware e-Invoice for receiving helps automotive organizations onboard thousands of suppliers for e-invoicing globally. This means no provider costs for the suppliers, no IT projects or enforcement of manual processes.

“We are pleased to see that our industry-leading innovations support the change in the automotive segment. We push hard to help them solve complex e-invoicing challenges and turn these experiences into best practices that our entire customer base can enjoy,” concluded von de Finn.

Participants of the Basware Automotive Forum are already looking forward to the next event.

“Many thanks to Basware and the speakers for the exciting, informative and enjoyable day,” commented Heinrich Huber, MAN Truck & Bus.