**London**: In response to escalating regulatory demands across Europe, Deloitte and Basware have established a Centre of Excellence to aid organisations in financial digital transformation, focusing on automated accounts payable solutions to ensure compliance and improve operational efficiency amidst new e-invoicing regulations.
As companies in Europe face increasing regulatory pressures regarding e-invoicing and compliance, Deloitte and Basware have announced the formation of a new practice-based Centre of Excellence (COE) aimed at supporting organisations in their financial digital transformation. This partnership emerges in light of significant SAP S/4HANA migrations and the rising tide of global compliance mandates.
Recent developments in legislation highlight the urgency of this initiative. For instance, Germany has mandated that all companies must be able to accept e-invoices starting in early 2025, with larger firms required to issue them by January 2027. France is set to introduce similar requirements beginning in September 2026. These new regulations necessitate fast adaptations by businesses to avoid penalties and operational disruptions.
Kevin Farrell, Senior Vice President of Business Development and Alliances at Basware, stressed the pressing need for organisations to modernise their finance operations in response to this evolving landscape. He noted, “With regulatory pressures and the pace of digital transformation intensifying, businesses need to take immediate action to modernize their finance operations.” Farrell went on to emphasise the benefits of the collaboration between Deloitte’s financial expertise and Basware’s Invoice Lifecycle Management platform.
The COE aims to provide enterprises with automated accounts payable solutions that not only ensure compliance but also offer potential financial benefits. Through this initiative, businesses could realise up to 89% touchless invoice processing, leading to significant reductions in manual work and processing times.
Henri Lhomme, Managing Partner and Head of Technology & Performance Management at Deloitte France, reiterated the importance of prompt action, stating, “As regulatory pressures and digital transformation accelerate, businesses must act now to modernize their finance operations.” The partnership seeks to enhance compliance innovation and leverage Deloitte’s extensive consulting resources to aid companies in compliance with local and global e-invoicing mandates.
A notable example of the partnership’s benefits can be seen in Carglass France, which recently implemented Basware’s digital invoicing solutions with Deloitte’s support. The company successfully deployed the solution in just seven months and reported significant improvements in invoice matching and expediting supplier payments while ensuring compliance with upcoming regulations.
Jason Kurtz, CEO at Basware, added further context by underscoring the cost of inefficiency and the urgency for enterprise finance leaders, stating, “Enterprise finance leaders can no longer afford to take a ‘wait and see’ approach… Acting now means mitigating compliance risks and improving cash flow.”
This expanded alliance between Deloitte and Basware aims to provide businesses in EMEA with the tools and insights needed to navigate the complexities of financial operations amid regulatory changes, helping them to maintain a competitive edge while ensuring compliance in an increasingly stringent financial landscape.
Source: Noah Wire Services
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