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.
We offer cloud-based solutions that enable organizations to manage all their supplier interactions including procurement, supplier management, AP and working capital on a single platform
Unlike other organizations, Tradeshift always aims at providing 100 percent supplier connectivity through an open platform where suppliers can transact with multiple buyers with the same account and vice versa.
Tradeshift’s overall vision is to become the Salesforce.com for supply chain. The company is aiming to enable businesses to easily find new suppliers, manage existing ones, and collaborate with them through the network for all processes and interactions. “Leveraging our solutions and relationships with viable partners, we want to deliver an integrated Source-to-Pay platform with connectivity to suppliers, combining 'best-of-breed' apps together on a modern platform,” concludes Patel.