Tradeshift: Cloud-based Platform for Buyer-Supplier Collaboration

With the emerging trends in procurement landscape, organizations are showcasing great deal of reliance on innovative technologies such as mobility and cloud to carry out entire procurement process. Though these technologies deliver a wide range of benefits and innovation, some organizations still continue to use the legacy systems to manage their operations. “With many legacy systems, the whole process of procurement is fragmented, since there is no significant level of connectivity between buyers and suppliers,” delineates Vishal Patel, Head of Solutions Marketing, Tradeshift. “We offer a cloud-based solution that enables organizations to manage all their supplier interactions on a single platform.” Headquartered in San Francisco, CA, Tradeshift provides a supplier collaboration platform connecting buyers, suppliers and all their processes in one global network.

Tradeshift enhances interaction between buyers and suppliers throughout multiple aspects of their relationship from supplier information and risk management to e-Procurement and management of purchase orders and invoices. “We enable the suppliers to onboard and transact in a simplest way possible through our all-in-one supplier collaboration platform, which includes AP automation, Supplier Lifecycle Management, e-Procurement, and working capital solutions,” says Patel. For example, the company provides CloudScan, which falls under AP automation solution that converts paper and PDF documents into digital format. Tradeshift also offers free E-invoicing, fast payments and predictable cash flows to the suppliers. “Traditionally, suppliers were not given importance in the whole procurement process, but now the suppliers are treated as partners due to their expert knowledge and value,” emphasizes Patel. With the growing importance and value of suppliers, Tradeshift enables organizations to digitally connect and collaborate with their entire supply chain. As an example, the company’s networked platform integrates accurate information from suppliers to support the overall process of purchasing. “The supplier information is maintained by suppliers themselves on the network with a thorough verification process configured by the buyer,” says Patel. Additionally, Tradeshift’s open platform approach enables third parties and customers themselves to build apps on the platform very quickly.