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Basware Officially Registered as PDP Service Provider as French Businesses Prepare for Mandatory E-Invoicing

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Basware strengthens global compliance as French tax authority selects key partners to support businesses in e-invoicing transition 

PARIS, Sept. 3, 2024 /PRNewswire/ — Basware, a global leader in accounts payable (AP) automation and invoice processing, has been officially registered as a Partner Dematerialization Platform (PDP) by the French Tax Authority General Directorate of Public Finance (DGFiP).  

By September 1, 2026, all businesses in France that are subject to VAT / TVA tax will be legally required to send and receive invoices electronically. The mandate aims to enhance transparency, reduce tax evasion, and improve efficiency in financial transactions. The French government estimates that this could recoup €3bn per year from businesses for incorrect tax claims.  

To support the transition to e-invoicing, Basware helps enterprises automate their accounts payable processes by matching, approving and processing invoices at scale, ensuring that businesses can comply with new regulations while optimizing their financial operations. 

As part of its commitment, Basware is a member of the PDP working group, set up by the French Tax Authority DGFIP, helping to implement the new mandate and support French businesses as they transition to e-invoicing. This transition poses significant changes for businesses in adapting their existing financial systems and processes. The PDP initiative is a platform that aims to provide support and solutions to ease this transition. 

Markus Hornburg, SVP, Global Compliance at Basware commented on the registration from the French government: 

E-invoicing is no longer an option, it’s an obligation and a cost driver. However, many businesses are concerned about the complexity of compliance and the potential disruption to their operations. Businesses need a global service provider to help them remain compliant with evolving e-invoicing legislation and streamline their digitization projects to deliver cost savings. France is one more puzzle piece in our global compliance map and it is more than just mandates; it involves important areas such as financial reporting and creating easily traceable audit trails. We have delivered this service in the past and will continue to do so in the future. We prefer digitization projects to be something customers want to do, rather than have to do, and we’re here to make the entire compliance process easier. The time to start transitioning is now.” 

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France joins a growing list of countries implementing mandatory e-invoicing. Each country will have its own specific requirements, timelines, and technical standards for e-invoicing. This creates a need for companies to stay informed about regulatory changes and adapt their processes accordingly. The European Commission says that the move to e-invoicing will help reduce VAT fraud by up to €11bn per year and bring down admin and compliance costs for EU businesses by over €4bn over the next ten years.  

Basware has ramped up its commitment to supporting businesses with digitized invoicing, already covering over 50 e-invoicing mandates. With the registration in France, as well as recently having gone live in Malaysia under the Malaysia Digital Economy Corporation (MDEC), Basware offers compliant e-invoicing invoicing services globally. 

Basware holds 40 years of deep expertise in mandates, laws and requirements across the globe through its Global E-Invoicing Compliance Map and compliance solutions. 

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 220 million invoices per year. With Basware, Now it all just happens.™    

Photo – https://mma.prnewswire.com/media/2494952/Basware_PDP_Status_France.jpg

Cision View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/basware-officially-registered-as-pdp-service-provider-as-french-businesses-prepare-for-mandatory-e-invoicing-302236745.html

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President Emmerson Mnangagwa met this week with Zambia’s former Vice President and Special Envoy Enoch Kavindele to discuss SADC’s candidate for the AfDB

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President Mnangagwa, who is SADC Chairperson, reaffirmed his own country’s and SADC’s enthusiastic support for Zambian candidate Sam Maimbo

LUSAKA, Zambia, Dec. 20, 2024 /PRNewswire/ — Special Envoy Kavindele released the following statement following the meeting:

“I am elated to witness the growing success and momentum of Sam Maimbo’s candidacy to become the next President of the African Development Bank. I am filled with gratitude to our friends across both SADC and COMESA for their continued support and good wishes.

Sam has garnered such wide consensus due to his being uniquely qualified to deliver the transformative change and empowerment our continent needs. Sam’s 30 years in development work is defined by driving outcomes, improving processes, and investing in people. The AfDB needs a hands-on leader who is laser focused on delivering results and who is unafraid of making tough decisions in order to best serve our continent. Sam is that leader. Sam has the track record and experience to drastically enhance the pace, scale, and impact of the Bank’s work in service of the people and governments of Africa.

Our region has a proud history of supporting fellow Southern Africans. For example, we all recall Lusaka’s role in hosting the African National Congress’ headquarters during the dark days of Apartheid oppression.

It therefore gives me no pleasure to observe my South African brothers, who have themselves leant on Zambia’s steadfast friendship over many decades, fail to rally behind both SADC and COMESA’s chosen candidate for the AfDB. Africa’s urgent economic development challenges demand transformational leadership at the AfDB, it is all of our responsibility to put forward the best candidate for the job. This is not the time or place for a government to act with narrow self-interest, we all must act in the continent’s and AfDB’s best interest.

I thank Sam Maimbo for his lifelong service to our entire continent, and I am eager to witness his enormous impact as President of the AfDB.”

View original content:https://www.prnewswire.co.uk/news-releases/president-emmerson-mnangagwa-met-this-week-with-zambias-former-vice-president-and-special-envoy-enoch-kavindele-to-discuss-sadcs-candidate-for-the-afdb-302337613.html

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Stay Cyber Safe This Holiday Season: Heimdal’s Checklist for Business Security

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LONDON, Dec. 20, 2024 /PRNewswire/ — Heimdal Security shares a practical holiday cybersecurity checklist, offering expert insights to help businesses safeguard against cyber threats this festive season.

With reduced staffing, remote work setups, and a surge in online shopping creating heightened vulnerabilities, this guide offers actionable tips to enhance business security.

Going beyond basic advice, the checklist also highlights the most common holiday scams and features videos showcasing real-life examples of Christmas-themed cyber scams and effective prevention strategies.

Key Tips to Protect Businesses This Holiday Season:

  1. Strengthen endpoints: Ensure devices are updated with antivirus and endpoint protection software; consider Endpoint Detection and Response (EDR) and application whitelisting.
  2. Prepare for phishing spikes: Train staff to identify suspicious emails, enforce robust email filters, and establish protocols for reporting unusual activity.
  3. Secure remote access: Mandate VPN usage, monitor unusual logins, and deactivate inactive accounts temporarily.
  4. Segment and shield networks: Isolate sensitive areas, deploy DNS security and advanced firewalls, and maintain full visibility over network traffic.
  5. Apply timely patches: Regularly update all systems and test patches in a controlled environment to minimize disruptions.
  6. Mitigate supply chain risks: Assess vendors thoroughly and limit their access to essential systems.
  7. Have a response plan ready: Tailor incident protocols for the holidays, create an on-call rotation for the IT team, and enable rapid action against suspicious activity.

Cybercriminals thrive on holiday distractions, but with proactive measures like phishing training, secure endpoints, and network segmentation, businesses can stay ahead of potential threats,” said Alex Panait, System Administrator at Heimdal Security.

Common Holiday Scams That Businesses Should Watch For:

Cybercriminals often tailor their tactics to exploit the festive season. The most common scams include:

  • Spear phishing: Emails disguised as holiday bonuses or event invitations that steal credentials or spread malware.
  • Malicious holiday E-Cards: Festive greetings that contain links deploying ransomware or spyware.
  • Fake E-Commerce sites: Fraudulent websites offering discounts to steal payment information.
  • Insider threats: Distracted or disgruntled employees mishandling or exploiting sensitive data.
  • Corporate travel scams: Fake booking platforms targeting business travelers.
  • Business email compromise (BEC): Fraudulent requests for urgent wire transfers during year-end financial rushes.

For more, read the full article here or watch the video on YouTube to see how these threats unfold and learn actionable prevention strategies.

About Heimdal:
Established in Copenhagen in 2014, Heimdal® empowers CISOs, security teams, and IT administrators to improve their security operations, reduce alert fatigue, and implement proactive measures through a unified command and control platform.

Heimdal’s award-winning cybersecurity solutions span the entire IT estate, addressing challenges from endpoint to network levels, including vulnerability management, privileged access, Zero Trust implementation, and ransomware prevention.

For further press information:

Madalina Popovici
Media Relations Manager
[email protected] 

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View original content:https://www.prnewswire.co.uk/news-releases/stay-cyber-safe-this-holiday-season-heimdals-checklist-for-business-security-302337465.html

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According to Tickmill survey, 3 in 10 Britons in economic difficulty: Purchasing power down 41% since 2004

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The people who have the most problems are women (30%) and are between 35 and 49 years old (39%)

ROME, Dec. 20, 2024 /PRNewswire/ — The purchasing power in the UK has dropped by 41% over the last 20 years. Today, £100,000 left in a bank account since 2004 without being invested would now be worth £59,021.

This figure is one of the findings from a study conducted by Tickmill, an international online trading broker that compared the economic situation in the UK and the European Union through the infographic “Purchasing Power and Cost of Living: UK vs EU”.

The analysis reveals a slight decline of 0.4% in the UK’s purchasing power, which currently stands at £41,573. In contrast, the European Union has seen a modest rise of 0.1%, reaching £40,874.

Why is purchasing power declining in the UK? One key factor is the cost of living. If the UK were still part of the European Union, it would rank as the fifth most expensive country, behind Ireland, Luxembourg, Denmark, and the Netherlands.

Unsurprisingly, 3 in 10 Britons are struggling with the cost of living. Women (3 in 10, compared to 25% of men), those aged between 35 and 49 (4 in 10), households earning less than £15,000 (6 in 10), and single parents (1 in 2) are among the most affected groups.

Among UK nations, Northern Ireland is the hardest hit, with 34% of its population facing financial difficulties, followed by Wales (31%), England (28%), and Scotland (22%). In England, the North East has the highest percentage of people struggling, with 4 in 10 residents affected. Even in London, the high costs impact 1 in 4 adults.

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In response to these challenges, Britons are making significant adjustments:

  • 53% have cut back or delayed spending on smaller items like eating out, entertainment, subscriptions, clothing, toys, books, etc.;
  • 52% have reduced household energy consumption;
  • 48% have decreased their grocery spending;
  • 41% have scaled back or postponed major expenditures, such as holidays, cars, and weddings;
  • 26% are working longer hours, taking on overtime, or pursuing additional jobs to earn extra income.

The British also made changes on the financial side. One in four adults has been forced to dip into their savings or investments to cover daily expenses. Moreover, 44% have stopped saving or investing entirely or have reduced their savings and investments—a 4% increase compared to 2023.

The lack of investment is another critical factor contributing to the decline in purchasing power. It is estimated that 13 million UK residents hold £430 billion in cash deposits but do not invest. The reasons? Seventy-four percent say they cannot compare investment products effectively, and 43% are afraid of losing their money.

A lack of knowledge and fear are preventing many savers from taking advantage of an important opportunity: preserving or increasing their purchasing power in the long term.

Photo: https://mma.prnewswire.com/media/2586123/Tickmill.jpg
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Cision View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/according-to-tickmill-survey-3-in-10-britons-in-economic-difficulty-purchasing-power-down-41-since-2004-302337354.html

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