Tradeshift is a global platform that connects businesses online to simplify their expense systems

Country: Denmark

Year: 2010

Concept

  • Tradeshift is a global business commerce platform that connects companies online to simplify their expense systems. Buyers and suppliers, no matter their size, can transact and collaborate with each other. These transactions include procurement, e-invoicing, supplier management, and supplier financing
  • The startup automates the processes in what we can call a “social network” for businesses
  • In June 2016, Tradeshift supported on the platform over 800,000 companies in more than 200 countries. In 2015, it got a 250% growth in transactions. It processes billions of dollars per month in supply chain deals
  • The startup is backed by important financial institutions such as Santander, HSBC, and American Express Ventures
  • Tradeshift do not provide any financing itself: it only offer a marketplace where businesses can connect with each other
  • The cloud platform is extensible for third-parties such as banks

Consumer Benefits

  • Quick and convenient: using the online platform, businesses can easily send and pay invoices
  • Simplifies invoicing for suppliers: can send electronic invoicing for free. Suppliers also get faster payments and predictable cash flow
  • Encourages companies to be more productive: businesses will work more easily, more effectively, and more productively with their whole supply chain, wherever their suppliers are in the world
  • Provides opportunities for banks to pitch their businesses: e.g. they can easily offer up financing when a company needs it the most

How to use

  • Create an account online
  • Upload e-invoices: the user’s customers can easily make the payments online
  • Pay invoices directly on Tradeshift: it is paperless and time-efficient. Suppliers get their money more with less difficulty
  • If needed, users can get financing before they are supposed to receive cash from their customers

Illustration