Basware Appoints Head of Compliance to Help Customers Navigate Global E-invoicing Regulation

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Feb 06, 2024, 03:00 ET

LONDON and MUNICH, Feb. 6, 2024 /PRNewswire/ -- Basware, a global leader in AP automation and invoice processing, has appointed Markus Hornburg as its Senior Vice President, Global Compliance. It strengthens the company's compliance offering to help customers through upcoming e-invoicing requirements.

Markus Hornburg, Head of Compliance at Basware

Many countries such as France, Poland, Spain, and Germany, are introducing legislation to enforce e-invoicing, while many existing countries around the world including Latin America continue to revise their requirements. This complexity will require businesses trading in those countries to send and receive invoices electronically, to clamp down on issues such as VAT fraud.

However, regulations concerning invoice formats, systems, tax rules and timelines can be challenging and differ across countries. Basware supports global enterprises automate their accounts payable (AP) function by seamlessly matching, approving and processing invoices at scale. Hornburg will lead Basware's strategy to provide an answer to this ever-more complex compliance challenge, which integrates the different rules required in each country in terms of invoice formats, signatures and archiving into its AP automation and e-invoicing platform.

With over 25 years in product, trade and tax compliance, Hornburg has worked with governments and private sector companies globally, bringing a wealth of experience defining and delivering digitalization efforts. Before joining Basware, he served as VP of Global Product Compliance for Coupa Software and VP of Compliance at Tungsten Network.

Markus Hornburg, Head of Compliance at Basware, said:

"I'm excited to join Basware to continue furthering compliance in financial processes. Over the years many so-called 'disruptors' have tried to enter the market, but Basware has a very long track record of delivering meaningful value to customers. With so many complex and evolving e-invoicing regulations expected over the coming years, Basware is strengthening its position as a trusted and reliable partner for all businesses, supporting finance teams and the office of the CFO. With Basware, digitization processes will be projects customers want to do rather than something they have to do."

Basware supports customers with e-invoice compliance in more than 100 countries with extensive experience with mandates, laws and requirements tailored to each market through its Global E-invoicing Compliance Map. Basware's solution is already connected to several government platforms as well as interoperability networks such as Peppol - the common global framework for the cross-border exchange of electronic business documents. Basware has the world's largest open network, with the ability to integrate with more than 250 Enterprise Resource Planning (ERP) systems across more than 175 countries. In 2023, Basware launched its Partner Dematerialisation Platform (PDP) application to facilitate digital invoicing businesses in France.

Based in Germany, Hornburg will report into Basware's CEO, Jason Kurtz.

Jason Kurtz, CEO at Basware, commented:

"Basware is committed to support its customers through e-invoicing mandates. The appointment of Markus reaffirms our commitment to be the choice of the customer for global compliance. Compliance is a priority for our customers but is ever-changing and can be complex to adopt and implement. Markus will help ensure complete coverage of financial processes for our customers that are navigating differing mandates across the world."

About Basware

Basware is how finance leaders in global enterprises can finally automate their complex, labor-intensive invoice processes and stay compliant with regulatory change. Our AP automation and invoicing platform helps you achieve a new level of efficiency – in a matter of months – while reducing errors and risks. We bring a unique combination of true automation, complete coverage, and deeper expertise to make it all just happen for our customers. That's why the world's most efficient AP departments at thousands of companies rely on Basware to handle over 170 million invoices per year. Basware. Now it all just happens.™

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SOURCE Basware