Basware Sponsors New Report on Global Trade
Summary
ESPOO, Finland--(BUSINESS WIRE)--A new report, A New Era: Global Trade in 2020 and Beyond, by The Economist Intelligence Unit and sponsored by Basware, has been released. “This unprecedented health crisis has shaken the very core of what many believed was a stable, predictable element of doing business,” said Klaus Andersen, CEO of Basware. Companies with fully digitalized workflows and a high degree of automation in place will always be in a better position to adapt to unforeseen situations today and in the future, retaining full business continuity and spend visibility. Future-proofing through automation, and prioritizing the ability to continue working from anywhere using secure cloud access, must be high on everyone’s agenda now.” The report walks through impact scenarios that include an increasing temptation of protectionism, with export controls already introduced by many countries, mainly on medical equipment and agricultural supplies and the delay of important deadlines including the moratorium on customs duties on electronic transactions and the expected start of phase two of the US China trade agreement. All of this presents global businesses with the challenge of being adaptive in their supply chains, and responsive in their financial operations, at a time of great uncertainty.
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