Maventa says they have been able to grow their electronic invoicing solution by offering the benefits of high-end e-invoicing solutions by focusing on transaction-based pricing. The platform also offers no fixed costs or minimum term periods. Intra-network transactions are also free of charge, which has been another factor in its growth.
Previously, Maventa had around 15 000 companies using their software. The new partnership will then provide electronic document exchange processing for all of Visma’s estimated 500 000 corporate clients in Northern Europe. The joint offering is called AutoInvoice.
Maventa began talks with Visma in 2010, where they began discussions on integrating the Maventa software into Finnish verticals. Ultimately, Visma didn’t want to use the Maventa brand, but wanted access to the technology. Maventa then shifted from their transaction-based business model to a whitelabel SAAS solution.
I spoke with Kim Forsman, CEO of Maventa, who was today at the EXPP Summit in Berlin, one of the biggest events for electronic invoicing. He says that this year is different – now the companies present are potential customers, rather than competitors.
“What we are aiming to do now is reach out to the market in Europe and sell the platform to drive up the invoicing in say Germany, Benelux, and the UK. There are a lot of service providers somewhere on the value chain, but they don’t have the money to build up the infrastructure,” says Forsman.
A jump from 15 000 to 500 000 corporate customers isn’t bad from one partnership. There are a lot of competitors in the electronic invoicing space. Will Maventa grow to become the standard through partnerships?
Edit: This article incorrectly listed Maventa as initially having 50 000 customers. They had 15 000 before the partnership.