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The leader in invoice automation aims to support digitization of French businesses by announcing its application to become a Partner Dematerialization Platform (PDP)
Basware, the leader in making AP automation and invoice processing happen, announced its Partner Dematerialization Platform (PDP) application on July 28th 2023, to support French businesses sending and receiving invoices digitally.
All businesses subject to VAT in France will soon be required to receive and send invoices electronically. Recently, the French government decided to postpone the implementation of the system, previously scheduled for July 1st 2024, in order to allow sufficient time for the reform to be a success. Basware is committed to becoming a PDP provider to support French businesses through this significant transition. Additionally, it offers Dematerialization Operator (OD) services, allowing customers to choose the solution that best suits their needs.
A trusted partner at the forefront of electronic invoicing
With 40 years’ experience working with major brands such as Vinci, HP, DHL and Mercedes-Benz, Basware is a pioneer in digitalization and electronic invoicing, present in 175 countries worldwide. In France, Basware is actively involved in the roll-out of electronic invoicing and the implementation of the new reform. As member of the PDP working group launched by the French Public Finance Department (DGFIP), Basware is also part of the National Forum for Electronic Invoicing (FNFE-MPE), which is working to implement this reform.
For a company, the decision to connect to the new ecosystem via an OD or PDP approach depends on several parameters: digital maturity, volumes processed, EDI history, international presence, and others. By offering both a PDP and an OD solution, Basware is now able to help all companies find the best dematerialization solution suited to their needs and business processes.
Alexis Hartmann, VP of France and UK at Basware, commented on the application:
“Basware has been established in France for over 20 years, and 350 French companies have already placed their trust in us and are working with us to comply with the French mandate. By becoming a PDP and OD, we want to offer an integrated solution that concentrates all types of workflows and formats (UBL, CII, Factur-X). For companies, this integrated approach will guarantee a 360° view, in real time, of their entire invoicing process.”
Jason Kurtz, CEO at Basware, added:
“Even before this reform was introduced, Basware has been supporting its customers in countries where dematerialized invoicing has been implemented (such as Italy) and integrating electronic formats for many years. Our long-standing expertise in the market and our strong involvement in the various working groups dedicated to these issues with the DGFIP and the FNFE positions us as a major player in this reform. Becoming a PDP is not something that can be improvised: our investments over the past 40 years and our proven expertise in all financial workflows demonstrates our position as a leader in true invoice automation. We are committed to helping businesses become digital by processing invoices fully online, which saves them money, keeps them compliant and reduces risk.”
An integrated approach to ensure a real-time view of the invoicing process
Certified by the International Information Security Standard ISO/IEC 27001, Basware’s solution is already connected to several government platforms, including Chorus Pro, as well as interoperability networks such as Peppol. As a result, it meets all the requirements for processing invoices, such as archiving with probative value, and reliable audit trails. With an open network of over 250 ERP systems and more than 70 supported invoice formats, Basware also offers tailor-made integration with corporate management systems, as well as complete coverage, anywhere in the world.
Another strong point that sets this platform apart from other solutions within the market is Basware’s technology that enables touchless invoice processing. Powered by AI and machine learning, Basware’s advanced invoice automation minimizes exception handling, eliminating the need for finance teams to manually manage invoices. Finally, Basware’s in-depth expertise ensures that the risks associated with compliance and highly complex, fragmented, and ever-changing local and international regulations are reduced.
Beyond the electronic invoicing reforms
In addition to electronic invoicing, the e-reporting function offered by Basware goes far beyond the requirements of the French mandate. A real asset for business, it will enable companies to make the most of financial automation: digitalizing all processes, increasing levels of automation, and transmitting accurate information in real time to decision-makers.
Alexis Hartmann concluded:
“While the move to electronic invoicing may intimidate some companies who see it as a constraint, this reform should be seen as an opportunity to accelerate their business. Basware is committed to supporting companies on a day-to-day basis in mastering this transition, helping them to understand the regulations, its impact, and its opportunities.”
Basware in figures
- 40 years‘ experience – present in 175 countries
- 170 million invoices processed per year
- VAT compliance in more than 60 countries
- Over 70 electronic invoice formats supported
- Number 1 worldwide for “AP invoice automation” according to Gartner
- Number 1 in global geographical coverage according to Forrester
- Leader in Accounts Payable Automation according to IDC
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Source globalfintechseries.com
