Global E-Invoice Compliance: Invoice Compliance Management

When it comes to keeping up with invoicing compliance, operations are further complicated by their global nature. But there is one clear way to simplify compliance with worldwide requirements—automation.

Compliance is complicated…leave it to the pros

The regulations around electronic invoicing (e-invoicing) and electronic archiving (e-archiving) vary vastly between countries. And regulatory guidance and practical interpretations are not always clear.

In practice, global organizations need to understand all the different local and cross-border requirements, design solutions for those requirements, and then continually manage change in the business environment as requirements change. It’s a full-time job (and then some) that most firms don’t necessarily have the bandwidth to do. These organizations should be able to focus all their energies on their day-to-day business operations, not sifting through the constant barrage of local mandates and finding out the best ways for their business to remain compliant with ever-changing requirements.

To put it lightly, global tax compliance is complex, fragmented, and constantly changing. And since these taxes are a significant source of revenue for many governments, the consequences of non-compliance can be very severe. These can range from fines and lengthy audits to sanctions under criminal law. Global firms can’t afford to redistribute funds intended for research and development to pay for non-compliance fines.

What this means is compliance can no longer be an afterthought. In the 1990s, and even up to 2014 or 2015, organizations would define an electronic invoicing strategy and then maybe evaluate whether that strategy could also solve the compliance issues. Now that process has been flipped on its head. For any organization operating globally, compliance has become a minimum condition of any procure-to-pay (P2P) automation strategy.

Invoice archiving is another critical area, as it is a basic requirement everywhere. It is the common denominator for tax compliance. E-invoicing rules vary from country to country, but almost all require the “original” of an invoice to be archived and stored for future audits. And if you have a solid archiving compliance strategy, you’ve already covered half the work of achieving tax compliance.

So, organizations have two options: manage e-invoice and e-archive compliance completely on their own, or have seasoned experts by their side for support.

Invoice compliance management software explained

Invoice compliance management software streamlines the complex task of meeting ever-changing e-invoicing and e-archiving regulations across multiple countries. Instead of manually tracking mandates and adapting processes region by region, businesses can rely on automation to stay compliant, reduce risk, and free up resources for core operations.

With the right solution, global e-invoice compliance becomes more manageable and secure. Software helps centralize audit trails, support VAT and tax requirements, and ensure proper invoice archiving for future inspections. By automating compliance, organizations not only avoid costly penalties but also gain efficiency, transparency, and confidence in their invoicing processes worldwide.

Basware’s e-Invoicing and Compliance solutions provide end-to-end automation, helping organizations meet local and cross-border requirements with ease. By automating compliance, organizations not only avoid costly penalties but also gain efficiency, transparency, and confidence in their invoicing processes worldwide.

Basware helps overcome compliance challenges

Basware delivers a total e-invoicing solution, assisting you with your compliance challenges from identifying obligations and assessing requirements to designing and managing solutions.

In other words, we support you in many aspects of e-invoicing compliance.

For decades, Basware has been gathering regulatory and best-practice knowledge from local markets, building new format conversions, connecting locally authorized compliance partners and tax authorities, and enabling the use of digital signatures and certificates. With this all under our belt, we can support your organization through many parts of compliance, ensuring both B2B and B2G connectivity.

As a global market leader in e-invoicing, Basware has what it takes to support your global e-invoicing compliance requirements. No matter your needs, Basware helps you cover all e-invoice delivery channels.

We provide a single source for global compliance by supporting more than 60 countries through our 230+ interoperability partner. We deliver multi-channel coverage combined with localized knowledge and connectivity to third parties.

So, how is it that we can provide all this for multinational organizations worldwide? For starters, we’ve partnered with various local providers to ensure our business network supports customers with compliant e-invoicing where it’s needed most. On top of that, Basware’s in-house compliance management works together with our service management team, as well as with external advisors and authorities, to maintain and improve the compliance support provided by the Basware Network.

Our network and its country coverage are growing constantly, ensuring organizations like yours have the appropriate compliance support. This frees organizations from the burden and complexity of global compliance and lets you focus on what matters: innovating in your line of business and operations.

As we discussed earlier, complying with global invoicing and tax mandates is complex and the consequences of non-compliance can be severe. But with Basware, you can automate your compliance across B2G and B2B mandates that include different formats, processes, and archiving standards. Basware also supports you in your VAT compliance work in more than 50 countries and a certified PEPPOL access point.

Compliance, efficiency and control through automation

At the end of the day, compliance isn’t easy. But when you let the experts support you, you gain efficiency, compliance, and control. 

Efficiency

• Reduce the costs associated with handling global tax compliance.

• Free resources from a large part of the burden and complexity of compliance to focus on core business.

Compliance

• Meet compliance requirements, a central business challenge.

• Reduce the risk of financial penalties and other sanctions associated with non-compliance with regulations.

Control

• Comprehensive audit trails including original invoice image to provide control over the entire process.

• Secure data transfer and additional security measures throughout the process.

The importance of compliance

Effective invoice compliance management is essential for organizations operating across multiple countries, where rules and regulations can change frequently.

With Basware’s invoice compliance management solutions, businesses can automate e-invoicing and archiving processes, reduce the risk of fines, and ensure all obligations are consistently met. Basware helps organizations stay ahead of regulatory changes, maintain smooth financial operations, and build trust with partners and authorities, making compliance a seamless part of a global invoicing strategy.