Finland Is Basware’s Newest E-Invoicing Frontier

E-invoicing and procurement service provider Basware has positioned itself as a key player in the adoption of automated practices among governments. Last September the company became the first in the market to partner with Belgium’s federal government and develop a centralized e-invoicing platform — and it’s just one of several jurisdictions that have enlisted Basware’s help for similar purposes.

On Monday (June 15), the company revealed its latest frontier: Finland. Basware announced the expansion of its Alusta cloud purchase-to-pay platform with a public service center in the nation, though Basware did not name that center.

Instead, the company disclosed details about the partnership, which entails SaaS and e-invoice automation services, as well as Basware Analytics to offer cash flow management capabilities.

“We are very pleased to deepen our relationship with this significant customer and offer flexible solutions to enhance their financial processes even further,” said Basware CEO Esa Tihilä. “We will jointly develop the customer’s accounts payable process to facilitate the efficient processing of their continuously increasing invoice volumes.”

According to Basware, the collaboration was struck for more than €1.5 million over the next five years.

Basware recently published its white paper, “Why Are Governments Not Paperless?” The analysis explored the array of motivations behind governments adopting electronic procurement practices, which vary widely between Europe and other parts of the globe. “From cost and efficiency benefits to compliance and control, the priorities for e-invoicing are wide ranging and often highly personalized to an individual country,” the company said in a statement.

Across Europe, a strong postal service and a lack of technical expertise have stood as the largest barriers to e-invoicing adoption, Basware researchers found; whereas in other regions like Latin America, the cost savings and greater transparency serve as stronger motivators to implement such programs.