How Basware is Shaping Compliance and Modernization for SAP ERP Users

In today's fast-evolving business environment, the push towards modernization and compliance is intensifying, especially for organizations utilizing SAP ERP systems. Basware, a leader in Invoice Lifecycle Management, has recently reinforced its position by introducing advanced compliance solutions tailored for SAP customers. This initiative aims to harmonize the modernization of ERP systems with adherence to varying global e-invoicing and tax regulations.

As regulatory frameworks multiply, organizations face the challenge of balancing modernization efforts with compliance requirements. Basware has made significant strides by making its e-invoicing and tax compliance solutions accessible through the SAP Store. This strategic enhancement allows companies to modernize their Enterprise Resource Planning (ERP) systems without compromising compliance.

In fact, demand among SAP customers has surged threefold since Basware's Invoice Lifecycle Management was made available on the SAP Store earlier this year. The key feature enabling this increase is Basware’s SAP-certified connector that seamlessly integrates into the SAP Cloud ERP ecosystem, eliminating the need for complex custom integrations. By adding compliance capabilities, Basware continues to uphold the principle of a clean core approach across its solutions, further streamlining the compliance processes within organizations.

Finance leaders often grapple with two pressing priorities: modernizing operations and meeting the rapidly expanding e-invoicing tax mandates. Fortunately, Basware's solutions empower organizations to tackle these issues simultaneously, providing a unified platform to address the complexities of compliance while enhancing operational efficiency.

Jon Stevens, SVP of Business Development and Alliances at Basware, emphasizes the common misconception of treating modernization and compliance as competing initiatives. He stresses that organizations that embed these elements into their finance processes can achieve faster results, decrease risk, and pave the way for a robust AI-driven financial environment.

Navigating Compliance Through the Invoice Lifecycle

As global invoicing regulations evolve, compliance is no longer a one-time milestone but a continuous journey that needs systematic integration throughout the entire invoice lifecycle. From the initial data entry into the ERP system to the final payment, organizations must ensure that compliance measures are in place at every step. Yet, research conducted by Basware highlights that 56% of organizations encounter compliance challenges when expanding into international markets, with 36% facing tax-related fines due to incorrect filings.

Modern accounts payable processes thus require ongoing validation and oversight. Organizations must possess real-time visibility into local e-invoicing laws and mitigate risks associated with fraud across all entry points. Basware's solutions, such as Basware Guardian for Accounts Payable, enable SAP customers to overcome these challenges efficiently. This tool acts as a pioneering defense in invoice management, utilizing AI-driven validation and intelligent controls to bolster invoice data quality. Its proactive measures help prevent discrepancies, such as duplicate invoices and fraud attempts, thereby accelerating ERP modernization efforts.

Compliance Embedded Within the SAP Ecosystem

Basware has developed compliance capabilities for accounts payable that extend across 190+ countries, catering to over 60 regulatory mandates. This expansive reach ensures that customers, such as those in France who have already implemented compliance measures ahead of upcoming deadlines, can seamlessly adhere to local regulations. Furthermore, Basware is poised to support SAP customers in Germany in preparing for forthcoming e-invoicing mandates, allowing them to navigate compliance challenges in due time.

The proactive nature of Basware's compliance approach is encapsulated in recent success stories. In France, Basware's customers successfully went live with the country's e-invoicing mandate two months before the stipulated deadline. Meanwhile, competitors were still in the midst of certification processes. Understanding that compliance must be integrated rather than treated as an afterthought exemplifies Basware's commitment to delivering superior performance to SAP customers.

With over 650 SAP customers relying on Basware's Invoice Lifecycle Management, organizations can transform their accounts payable operations in conjunction with SAP Cloud ERP. As Arnaud Droissart, Finance Information Systems E-Invoice Manager at ENGIE, states, "Basware enables ENGIE to manage over one million invoices per year across nearly 900 legal entities while maintaining compliance with SAP Cloud ERP."

By contrast, Bill Martin, IT Director and Business Partner for Mauser Packaging Solutions in North America, highlights why Basware was chosen over configuring SAP for similar functionalities. He affirms that while SAP could be adapted for some functions, it cannot match the excellence and specialization offered by Basware.

In conclusion, Basware's advancements in compliance for SAP customers underscore a broader trend within the business landscape: the necessity of integrating compliance within modernization efforts. This strategy not only mitigates risks but also lays a foundation for smarter finance operations driven by the power of AI. To discover how Basware's solutions can enhance your organization’s operations, explore their offerings further.

About Basware

As a frontrunner in Invoice Lifecycle Management, Basware provides finance teams with full control over every invoice consistently. Their platform accommodates governance of the entire accounts payable process across multiple countries, ERPs, and suppliers. With a track record of processing approximately 2.5 billion invoices and managing $10 trillion approved for payment, Basware's industry expertise has made it a trusted partner for over 6,500 customers globally, including household names like DHL, Heineken, and NBC Universal Media. Recognized by leading analysts such as Gartner and Forrester, Basware continues to innovate, ensuring organizations can navigate the complex invoicing landscape effortlessly.