Why does global compliance matter?
Ensuring global regulatory compliance with worldwide invoicing and tax mandates is a central business challenge for organisations operating in multiple geographies. Regulations around invoice receipt and sending as well as tax compliance vary vastly between countries, and in practice your organisation needs to understand and deal with all local and cross-border requirements. Since compliance in these areas is complex, fragmented, and constantly changing, you need a seasoned partner by your side who has a deep understanding of ongoing global developments.
Watch the video below to learn how Basware supports global heavy equipment auctioneers Ritchie Bros. in their cross-border compliance challenges.
How Basware can help
At Basware, we see a compliant world as: a world of accountability, transparency, reliability, and visibility into financial streams. Basware’s solutions help connect your business operations to trading partners in B2B and B2G in a globally compliant manner.
With Basware you can:
- Ensure compliance with global mandates
- Guarantee globally compliant invoice sending & receiving
- Ensure tax compliance in your AP processes
- Adhere to local archiving regulations
With over 40 years of regulatory and best practice knowledge from local markets, Basware has a deep understanding of global organisations’ unique and complex compliance requirements. Whether your organisation is looking for a full Procure-to-Pay (P2P) solution, an Accounts Payable (AP) solution, or need to connect with business partners across the world, with the support of Basware’s global tax compliance services you can achieve your internal and external global compliance management requirements.
Government Mandates And Regulations
Global invoicing and tax compliance is complex, fragmented, and constantly developing, posing a key business requirement for globally active organisations. Even more, with the ongoing spread of e-invoicing surging across the globe comes a myriad of laws, mandates, and new compliance requirements. These rulings often are highly complex – but with Basware as a partner, your organisation is best prepared to meet regional compliance challenges on a global scale.
It's great that Basware can help us in ensuring our compliance requirements. Basware's regional partners have direct integrations straight into the platform, this has been great for simplifying and speeding up invoice cycle times.
E-invoice Receiving And E-invoice Sending
The Basware Network for e-invoice receiving helps you receive all invoices electronically, regardless of your suppliers’ invoicing preferences. Basware is the only solution that can capture 100% of your data. The Basware Network can ingest all invoice formats (paper, PDF, EDI, XML, etc.) and deliver the files digitally to you without compromising the data. These capabilities enable your organization to receive and manage B2B & B2G invoices in >175 countries with support for global e-invoice formats & VAT compliance in 60+ countries. Our invoice verification process ensures that the received invoices are formatted correctly to make the input tax deduction as smooth and easy as possible for you.
The Basware Network for e-invoice sending supports varying and complex compliance requirements, such as global (e-) invoice formats and archiving, making it easy for you to connect to your customers anywhere in the world. This allows for streamlined operations on a global scale. With Basware, your organization can leverage multiple invoice channels to deliver invoices to buyers’ ERP, email, EDI connections, digital signatures, via Peppol or printing services – while staying in compliance with mandatory governmental mandates such as post-audit or clearance models. Important mandates are already in force, for example, in Germany, India, and the Nordic countries. Many more are yet to come into power such as in France in 2023. Basware helps to ensure compliant and global B2B & B2G connectivity.
Certified Peppol Access Point
Basware has been involved in the Pan-European Public Procurement On-Line (Peppol) initiative’s development for over 10 years and is a leader in global Peppol rollout and adoption. With the Basware Network, your organisation can easily and directly tap into Peppol and ensure B2B and B2G connectivity in countries where Peppol is the preferred invoice delivery network.
Archiving rules and regulations of invoices and other business documents vary from country to country.
This creates complexity for multinational organizations since they need to keep a comprehensive understanding of local regulations – on a global scale. A comprehensive electronic archiving solution for your invoices can help tackle this challenge. Through the Basware Vault, you can ensure that the relevant documents are archived electronically in the way that the local invoicing related archiving regulations require. Not only is Basware Vault VAT and GST compliant in over 30 countries, but we also continuously expand our coverage.
Tax Compliance In Accounts Payable
Basware’s Accounts Payable Automation solution helps you to capture all your invoice data electronically, automate matching and workflows, and accelerate your invoice processing cycle. Within this highly automated AP process, Basware helps you achieve global tax compliance through automated tax code handling and advanced tax calculations.
Support For Compliant Procurement Processes
The Basware Marketplace has been built to specifically meet the high level of compliance requirements of both the public as well as the private sectors. With Basware’s support, procurement processes’ entire information exchange naturally supports and enables the tendering processes, all while supporting process compliance. All of the exchanges’ relevant information is logged in the system and easily retrievable for possible audits. The Basware Marketplace is fully Peppol-compliant, helping to close the gap on e-procurement.
Process Compliance, Security & Data Protection and Accessibility
Over decades, we have continuously developed and elevated compliance as a product design principle at Basware. It matters deeply not only which products are built but also how they are built. Our product design philosophy is grounded in good governance meaning that from their conception, our products are designed to support customers on their mission to reach compliance.
Basware process compliance capabilities: ISO 9001 certified
At Basware, we follow and implement data protection and privacy standards into our solutions. Our guiding principle is to help our customers comply with local regulations and best practices. A few key examples for this are Basware’s SOC certification (yearly reporting & auditing) and the support of our HIPAA customers. In terms of the GDPR, please read our dedicated GDPR commitment. If you have any questions on how our solutions can help your organization with data protection and privacy, don’t hesitate to contact our experts firstname.lastname@example.org.
Why customers work with Basware to make automation happen
Cutting-edge technology powered by AI & ML that eliminates all manual processes
Global compliance capabilities and the ability to integrate with 250 ERPs across more than 175 countries
40 years of specialized experience implementing best practices and reducing risk across finance operations