Basware to Provide E-invoicing for Vattenfall
Basware, the purchase-to-pay (P2P) solutions provider, will deliver an e-invoicing solution to Vattenfall, one of Europe’s leading energy suppliers. Vattenfall will deploy the Basware Business Transactions service for sending and receiving e-invoices, as well as Basware Supplier Portal to publish and download information and to complete transactions online.
Commencing this year, Vattenfall aims to convert 50% of its purchase invoices to e-invoices within 12 months, increasing to 65% in year two. Of the 17,000 suppliers Vattenfall uses on a yearly basis, 400 of these account for 60% of the invoices, and just 25 suppliers make up 30% of overall invoices. With a €20bn turnover, it is essential for Vattenfall to be able to streamline its processes for prompt processing and payment. By shifting to e-invoicing, Vattenfall can accelerate payment times and reduce errors while speeding up processing and improving productivity by reducing manual workloads. Vattenfall has previously used Basware’s solutions for its operations in Finland.