Our approach is based on a preliminary analysis of your invoicing process, your systems and how they interact with those of your suppliers and customers. Our business offer will be tailored to the size of your company, your specific needs, your budget and the degree to which you wish to embed e-invoicing within your processes.
For example, your whole invoicing process could be automated: from the sending and reception of purchase orders, invoices and credit notes, up to an automatic reconciliation of data. Digitised invoicing data can also be directly downloaded into your accounting system, allow the exchange of electronic catalogs and/or the set-up deferred payment solutions. In parallel, should you wish to maintain a paper version, all your documents will remain accessible, downloadable, and printable online for two months.
Potential operational impacts on suppliers and/or customers are always minimised while a global support to their onboarding can also be foreseen.
Since 2014, E-invoicing spreads across sectors and businesses all around the world. More and more companies are integrating this solution within their existing environment.
Electronic invoices are sent using a certified international exchange platform which complies with the highest standards of information security (ISO 27001). The transmission is performed using secure dedicated platforms where only duly authorised persons can access the information upon authentication.
All communication to and from our platform are encrypted to ensure strict confidentiality of your information.
From a legal perspective, paper invoices and electronic invoices have exactly the same value and as a pioneer in digitisation, Luxembourg has adopted a proactive role in promoting e-invoicing.
The development of e-invoicing is strongly encouraged by the European Parliament Directive 2014/55/UE and Council Directive of April 16th, 2014.
“By ensuring semantic interoperability and improving legal certainty, this Directive will promote the uptake of electronic invoicing in public procurement, thereby allowing Member States, public and private operators to generate significant benefits (estimated 243 billion euros, PWC study) in terms of savings, environmental impact, and reduction of administrative burdens.”
The European Directive is in the process of being transposed in Luxembourg and is already mandatory in other countries such as France.
Basware is the global leader of “purchase-to-pay” solutions (automation of the procurement process) and e-invoicing solutions. Basware Commerce Network connects 1 million companies across 100 countries and enables easy collaboration between buyers and suppliers of all sizes.
In collaboration with Basware, Labgroup has developed an end-to-end solution for the Luxembourg market that incorporates not only the functionality to convert paper invoices into electronic ones but also to communicate them to the appropriate recipient using a secure exchange platform.
Basware employs agile and proven methodologies combined with secure coding practices. All generated code is subject to a combination of SAST (Static application security testing), DAST (Dynamic application security testing) and IAST (Interactive application security testing) security tests in different stages of the deployment cycle and in live production. Basware measures its work against open standards such as OWASP (Open Web Application Security Project) Top 10 and CWE-25 (Common Weakness Enumeration) and always aims for a clean report card.
Secure development
Basware employs agile methodologies and secure coding practices. The code that the company creates is subjected to a combination of SAST (Static application security testing), DAST (Dynamic application security testing) and IAST (Interactive application security testing) security tests in different stages of the deployment cycle and in live production. Basware measures its work against open standards such as OWASP (Open Web Application Security Project) Top 10 and CWE-25 (Common Weakness Enumeration), and always aims for a clean report card.
Vulnerability management
Basware scans for vulnerabilities in systems and applications regularly and intensively, and is committed to resolving discovered issues promptly in accordance with the risk that they represent. Critical vulnerabilities are treated as security incidents. In case a vulnerability cannot be fixed as quickly as it should, Basware blocks access to it with firewalls and WAFs (Web application firewall).
Access control
Access to systems and data is granted as least-privilege and for a definite business need only. All users are authenticated with an individual user account. Production systems and networks can only be accessed over an encrypted connection. All data access and use of privileges are logged, and logs are stored securely for a minimum of one year.
Data protection
Customer data is segregated with logical partitioning and access control allowing each user to access the data that they need, and no more than that. Customer data is not removed from production without authorization and is not stored on portable devices or media. Data transfers in public networks are by default encrypted.
Network security
Networks are segmented into security zones, such as DMZ( Demilitarized zone (network)), production servers, data storage, wireless networks and office LANs (Local area network). All traffic between security zones passes through network firewalls that are configured with effective, least-privilege filtering rules. Production networks can not be accessed over a wireless connection.
Security monitoring
Production systems and networks are constantly monitored for security events. Situational awareness is maintained through SIEM systems (Security information and event management) which correlate and analyse events, maintain secure log storage, and trigger alarms in case expedited response is needed. Intrusion detection sensors are operational both in production networks and in key hosts.
Incident management
Security issues and incidents are identified via multiple channels, from technical monitoring to customer servicedesk and internal whistleblowing. Security incident handling follows a defined procedure and is overseen by an independent security function. Affected customers are notified of significant security incidents promptly and with full disclosure.
Backup and recovery
Customer data is backed up regularly for prompt recovery in case of human error, data corruption or malfunction. Backups are transferred encrypted to an offsite location. Recovery can be requested by authorised individuals only. In the case of catastrophic system or network failure, alternate processing arrangements are taken into use.
Security auditing
Basware has a continuous security audit program that is run by an independent security function and reviews production systems and applications on an ongoing basis. Each major service release is security audited before transfer to live production. Audit findings are reviewed by executive management and business stakeholders.
Risk and compliance
Basware considers risk in all security decisions that they make. Unaddressed security risk is subject to explicit management approval. While Basware does not hold formal certifications, the company is compatible with ISO 27001 and PCI-DSS 3.0 (Payment Card Industry Data Security Standard). For data privacy, Basware is in compliance with EU Data Protection Directive in its operations.
You too can take advantage of these benefits by contacting Labgroup who will advise you on the best way to optimise your incoming and outgoing invoicing procedures.
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