Friday 6th September, 2013

Basware, 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 and the Chinese automotive network have combined to drive the exchange of electronic invoices in the automotive industry. The agreement will simplify purchasing, accounts payable and invoicing processes to deliver better control, efficiency and cash flows.

The partnership strengthens the global automotive supplier network by facilitating the exchange of electronic invoices, speeding up and making processes more transparent, whilst 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 standard used by major automotive manufacturers in the EU, US and Japan, prior to when invoices are sent.

"This is very important for our customers with existing or future business operations in China. 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,” said Hubert Hohenstein, Vice President Automotive at Basware.

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.