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Tradeshift launches Engage to accelerate supply chain digitisation

California based supply chain payment provider Tradeshift has announced the launch of Tradeshift Engage, a seller engagement platform designed to build digital collaboration between suppliers and buyers by delivering value on both sides.

A study performed by Ardent partners has revealed that AP departments consider digitalisation of invoices as a priority task. Businesses are also looking forward to accelerate digital processes as social distancing measures are taking place throughout the world.

The current onboarding process is buyer-centric, which makes it complicated and slow. Tradeshift Engage is aimed to flip the challenge of supplier onboarding. The cloud-based mobile application provides real-time visibility into transactions and the ability to finance payables on-the-go thus offering sellers with data-driven insights based on their relationship with the buyer.

With Engage app, sellers are provided full set of invoicing, ordering and fulfilment tools, such as digital invoice and credit note creation, responding to POs and PO changes, sending shipping notices and receipt status information. Its single interface provides a unique platform for sellers to engage with multiple buyers and to resolve issues in real-time. The system makes use of data from the buyer’s ERP or system of record to create the supplier profile with details of previous transactions.

“A lot of businesses are trying to get their heads around the impact that social distancing measures are having on their day to day operations. Despite rapid advances in technology that are enabling many businesses to carry on under a semblance of business as usual, the connectivity between buyers and sellers remains an outlier. Heavily paper-based, the processes which underpin these relationships are starting to break down,” said Tony Alvarez, VP Network, Tradeshift

He further added “Businesses we’re talking to want to digitise at speed. But the traditional approach to supplier onboarding remains slow and cumbersome. These are unique times, and we’re not claiming to have all the answers. What we can do is make it quick and easy for buyers and sellers to establish a digital connection, get money flowing again and stay close to one another during a turbulent period.”

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