TRADESHIFT DISRUPTS STAGNANT ePROCUREMENT CATEGORY WITH NEW END-TO-END SOLUTION

TradeshiftBuy Unites Buyers, Suppliers and Products in Single, Open Collaborative Platform

Tradeshift, the leading global supplier collaboration platform, today announced Tradeshift Buy, a new corporate buying experience, to deliver a radically easy way for suppliers to add and manage their catalogs, for employees to easily buy what they need while following procurement policies, and for procurement to add strategic value to the organisation.

The all-in-one, integrated solution finally solves the unfulfilled promises of traditional eProcurement solutions, including poor usability, limited product content, and getting more spend under management. These challenges have long been the bane of procurement professionals everywhere.

Users will also be able to easily expand their buying options with apps that connect to Upwork, Amazon Business, and others.

Tradeshift Buy:

• Solves the problems of too little, incomplete and expired product content by introducing the world’s first central, searchable product database
• Addresses poorly designed eProcurement tools by delivering an intuitive virtual store that spans all supplier and product categories, including services
• Eliminates lack of visibility into maverick spend by freeing employees to buy from any online source while remaining compliant
• Encourages collaboration and innovation, rather than fixation on transactions and costs
• Overcomes siloed point solutions by integrating a full procure-to-pay solution using third-party and Tradeshift apps

Tradeshift Buy delivers a fast and simple way to digitise all supplier catalogues into an open, searchable and connected environment, provides simple to use procurement tools, and gives real-time insight analytics.

“For the last 20 years there’s been very little innovation in eProcurement. Traditional eProcurement tools are essentially all the same, now with a nicer user interface. At Tradeshift, we started thinking about procurement for a long time, but we knew that we didn’t want to replicate the mistakes of existing solutions,” said Christian Lanng, CEO, Tradeshift. “Using what we’ve learned about supplier collaboration over the last five years, we’ve taken a different approach. With Tradeshift Buy, we’ve empowered buyers with the freedom to find and buy anything they need using an intuitive buying experience.”

“Tradeshift is entering the eProcurement and broader source-to-pay market as an antagonist with a radical perspective on how to improve corporate buying. They’re starting out with various pieces of the procurement technology puzzle including a B2C grade (high-end) product/catalog information management capability, the only true platform-as-a-service (PaaS) capability (and application network) in the sector and broader capability spanning e-invoicing, AP automation and supplier management,” commented Jason Busch, Executive Editor, Spend Matters. “We welcome Tradeshift’s entrance as a procurement suite vendor which is not just taking the road less travelled but blazing a completely new trail.”

About Tradeshift

Tradeshift is a global network and platform that connects buyers and suppliers. We transform the way companies buy, pay, and work with suppliers. Tradeshift connects 500,000 companies across 190 countries. We’re headquartered in San Francisco with offices in Copenhagen, New York, London, Paris, Suzhou, Tokyo, Munich, and Novosibirsk.