Xerox to Join Hands with Tradeshift to Deliver Digital Procurement and Accounts Payable Services

By CIOReview | Monday, March 28, 2016

NORWALK, CT: Xerox has recently announced a contract with Tradeshift to improve their customer’s financial performance by incorporating real-time visibility into their procurement and account payable processes.

With the addition of Tradeshift’s cloud-based technology into Xerox’s suite of services, the distinct paper-based processes of the enterprises can now be easily converted into digitally connected and highly automated workflows. Along with these, the platform helps in tracking and processing end-to-end procurement and account payable activities. In short, this provides clarity into purchases from all suppliers, in order to cut down nonconformist spending thereby improving compliance with an enterprise’s purchasing policies.

John Gentry, group president of Xerox Finance, Accounting and Payment Services said “A digital finance and procurement culture provides a clear competitive advantage”. “We’re offering agile processes to improve cycle times and reduce the cost and reliance on paper invoices while delivering real-time insights.”

Being a global network, Tradeshift’s technology improves a company’s ability to buy, pay and collaborate with its suppliers. The platform tackles with the digitization challenges that many companies face across their supply chain while providing next-generation capabilities, such as social networking, mobile access, self-service and analytics.

“Network and collaboration models are pervasive in our personal lives and businesses are now ready to digitize their supply chains,” said Christian Lanng, CEO and Chairman at Tradeshift. “Our clients will benefit from streamlined and intuitive processing across every aspect of corporate buying and supplier management, greatly improving work life, agility and bottom lines."

From more than 20 years, Xerox has been the provider for end-to-end finance, accounting and procurement services for the Global 2000 companies. This is not all, Xerox with its eleven finance procurement business process centers around the globe, supports many industries which includes consumer products, hospitality, manufacturing, banking, retail, healthcare, professional services and transportation.