Basware,
the leading provider of e-invoicing and purchase-to-pay solutions,
has partnered with CEDEX e-Autohub, a Chinese supplier network, to
connect automotive manufacturers in Europe and North America with
suppliers in China. With this partnership the Basware Commerce Network,
the largest B2B network in the world with 54 million transactions
annually, and the largest Chinese automotive network have combined to
drive the exchange of electronic invoices in the automotive industry.
The agreement simplifies purchasing, accounts payable and invoicing
processes to deliver better control, efficiency and cash flows.
From left to right: Hubert Hohenstein, Vice President Automotive at Basware; Mingguang Cheng, CEO of CEDEX, Andreas Eichler, Vice President of Transaction Services at Basware (Photo: Business Wire)
The partnership strengthens the global automotive supplier network by
facilitating the exchange of electronic invoices, speeding up and making
processes more transparent, while ensuring compliance with local
regulatory requirements. CEDEX e-Autohub ensures that the invoices of
Chinese suppliers meet the respective local requirements of customers in
Europe and North America, including the global invoicing standards used
by major automotive manufacturers in the EU, US and Japan, before
invoices are sent.
"This is very important for our customers with existing or future
business operations in China,” said Hubert Hohenstein, vice president,
Automotive at Basware. “They want to be able to rely on one consistent,
standards-compliant e-invoicing solution across their whole supplier
network. Through our connection to the CEDEX e-Autohub network we are
the only global e-invoice provider that can guarantee this for the whole
automotive industry. As part of the agreement, Basware customers like
Daimler and BMW will be able to connect with CEDEX e-Autohub’s
customers, and vice-versa, enabling expansion across respective supply
chains.
"This partnership makes handling supplier invoices easier, faster and
more productive. With our combined networks, customers can receive
supplier e-invoices safely and securely, directly into their invoice
processing system, while we take care of the data validation, format
conversions, legal compliance and if needed, digital signature
verification. This formatting alone reduces invoice processing time by
several days, minimizes the burden for our customers and helps improve
their cash- flow positions,” Hohenstein added.
Today, the agreement enables the connection of 5,000 Basware and 2,500
CEDEX e-Autohub suppliers and customers, with this number continuing to
grow.
"Together with CEDEX e-Autohub we are able to serve the fast-growing
Chinese automotive sector and offer the industry a compliant, reliable
and secure way to exchange e-invoices, as well as gain access to the
Basware Commerce Network to find new suppliers and buyers and create
deeper trading relationships between those buyers and suppliers,” said
Hohenstein.
“Basware has been working with thousands of automotive suppliers and
manufacturers, including Audi, BMW, Daimler, MAN and Volkswagen for many
years, and our team has a deep knowledge and understanding of this
unique industry," said Esa Tihilä, CEO of Basware. “We know plenty about
the complexities of e-invoicing in the automotive industry and adapted
our solutions to accommodate these challenges. “We offer this expertise
and knowledge to all our customers – across all industries. Through our
Basware Commerce Network we connect over 160 e-invoicing service
providers and over 900,000 companies globally, which all benefit from
immediate electronic transaction collaboration with all their trading
partners.”
About CEDEX
China Enterprise online Data Exchange Services Ltd., also known as
CEDEX, is a professional IP-based electronic data interexchange (EDI)
services provider in the B2B e-commerce world. The management team has
expertise in Information Communication Technology and working experience
with China Telecom.
CEDEX was founded in 2005. At the end of 2006, CEDEX jointly built a
China e-Autohub platform for China’s automobile industry to provide EDI
services for automotive OEMs and their supply chains globally. Now China
e-Autohub owns more than 10 automotive OEMs and over 2500 suppliers.
As a leading EDI services provider, which holds a value-added
telecommunications services license in China, CEDEX has developed many
related software packages like ERP EDI Interface Adapter (DX0/DX1) and
EDI-based software products, such as CeA-SRM (Collaborative e-commerce
Applications - Suppliers Relationship Management), ERP B2B data
exchanger (EX6), EDI data mapping services, EDI data transmission
services and public Internet security solutions and services.
CEDEX’s platform also interfaces with other ERP systems, such as SAP,
ORACLE, QAD, UFIDA, etc.
About Basware
Basware provides open, secure, cloud-based purchase-to-pay and
e-invoicing solutions to organizations of all sizes, resulting in
greater efficiencies in procurement, accounts payable and accounts
receivable.
Companies across all industries, from small businesses to corporate
giants, use Basware solutions to drive sustainable cost savings,
proactive insight to cash flows and improved buyer–supplier
relationships. The Basware Commerce Network is founded on the principles
of openness, where all types of organizations can collaborate and trade,
making it the largest in the world. Today we connect millions of
business users in 900,000 companies across over 100 countries.
Basware is the global leader in providing solutions for better buying,
better selling and connected commerce. Find out how Basware boosts
financial performance and profitability at www.basware.com.
The company’s U.S. business, Basware, Inc., is headquartered in
Stamford, Conn.
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