As regulatory complexity intensifies and government mandates multiply across jurisdictions, a checkbox attitude to invoice and tax compliance will no longer cut it. It’s time to turn compliance into a driver of performance.
There’s been very little data on invoice and tax compliance in globally operating companies. Until now. Basware’s groundbreaking new research, conducted with FT Longitude, part of the Financial Times Group, surveys 400 finance leaders to uncover the hidden cost of non-compliance.
The findings are stark: more than one-third of organizations have faced penalties. Yet the research also highlights clear opportunity. Organizations that treat compliance as a strategic capability, investing in automation, visibility, and connected finance operations, are better positioned to mitigate risk, strengthen governance, and unlock long-term value.
Key Insights:
- Mitigate compliance complacency risks: As 56% of businesses report missed invoicing or indirect tax deadlines and 37% admit reputational harm, non-compliance is now an enterprise-level threat.
- Leverage technology for control: 95% of organizations still rely on spreadsheets. 56% fear their systems can’t keep up with evolving mandates. Automation, AI, and e-invoicing are essential to reduce errors, gain visibility, and future-proof operations.
- Break down silos to strengthen compliance: Only 11% of organizations currently have cross-functional compliance teams.
- Drive performance through compliance maturity: 88% of firms with advanced compliance exceed profit targets.
- Build resilience and agility: Centralized, modern compliance allows organizations to adapt quickly and strengthen stakeholder trust.
