Jan 16, 2025 06:36 AM
As we look toward 2025, Basware’s global experts predict a landscape of continued evolution and consolidation in e-invoicing and compliance. Here are the key trends businesses need to prepare for.
Mandates Are Here to Stay
E-invoicing mandates will expand and evolve, requiring businesses to adapt quickly. “The coming years will bring massive changes,” predicts Gustav Gnosspelius, Senior e-Invoicing and Compliance Advisor at Basware. “Terms like “interoperability” and EN 16931 will become commonplace, reflecting the growing technical complexity of compliance.”
Governments will likely introduce more holistic approaches to mandates. Peppol, originally developed as an EU standard, is gaining traction globally as a streamlined solution for compliant invoicing. “Peppol’s growing awareness could simplify processes on a global scale,” notes Product Management Director, Martin Lux.
“There will be a massive wave of companies realizing it’s time to focus on compliance given the upcoming mandate starts. I would love to see more companies bring AP, AR, tax, and IT together to solve the compliance process," says CEO, Jason Kurtz.
Industry Consolidation
As the e-invoicing landscape continues to evolve, the market is poised for a significant shift, with consolidation becoming a defining trend. Smaller providers are expected to merge or exit, unable to meet the growing demand for comprehensive, scalable solutions.
“This shift will leave only a few service providers capable of delivering end-to-end solutions,” comments Markus Hornburg, SVP of Global Compliance at Basware.
Basware’s Chief Professional Services Officer, Bob Booth believes:
“The market will shake down to a small number of suppliers who can make the technology work globally.”
Embracing Proactivity
The experts agree: businesses can no longer afford to be reactive. Lars Madsen, Basware’s CMO, advises companies to focus on global compliance strategies rather than tackling mandates piecemeal. “Start now and embrace an end-to-end approach,” he urges, emphasizing that early adopters gain a competitive advantage by taking proactive steps that others will eventually have to follow.
2025 promises both challenges and opportunities. Businesses that invest in comprehensive compliance solutions will not only stay ahead but also unlock new efficiencies and capabilities.
Explore how Basware’s solutions can help you stay compliant in 2025. Download our CFO Handbook, check out the first blog in this series, or contact us today.
