How they describe themselves: Tradeshift is a business-to-business social network that helps companies connect with each other on a secure platform to manage business processes such as invoicing and cash flow. Because the Tradeshift e-invoicing service is free for suppliers, it’s easy to get suppliers on the network, saving time and money.
In the Tradeshift business cloud, companies can create a network with suppliers, customers, and partners to work together more efficiently, powered by the latest social technologies. All Tradeshift applications including e-invoicing, electronic purchase orders, and automated document validation can be fully integrated into finance and ERP systems.
How they describe their product/innovation: Instant Payments will allow businesses – and particularly SMEs – to receive instant payment for invoices approved through the platform. Companies will benefit from interest rates significantly lower than alternative funding options and will no longer see cash flow impacted by long payment terms or late payers. This new service integrates seamlessly with Tradeshift’s existing e-invoicing solution which is free to suppliers, providing the financial flexibility small businesses need to succeed.