Tradeshift Releases Corporate Buying Solution: Tradeshift Buy

Tradeshift announced today its release of a new corporate buying solution, Tradeshift Buy, which the company said will increase visibility, improve spend management and add product content opportunities for buying organizations.

In a press release, the procurement and accounts payable (A/P) platform provider said Tradeshift Buy will “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 organization.”

According to Tradeshift, the new solution features:

  • A central and searchable product database
  • A “complete” e-procurement solution that includes a virtual store for all suppliers and product/services categories
  • A collaboration tool allowing members of the organization to work within the solution during the buying process
  • A full procure-to-pay (P2P) solution using third-party and Tradeshift apps
  • A tool that offers the ability for users to buy anywhere online but ensures they stay within policy

Spend Matters will be covering the solution in more detail on our PRO research service in the coming weeks. Tradeshift is entering a highly crowded e-procurement market segment with source-to-pay suites (e.g., Ariba, Coupa, Ivalua, GEP, SAP, Oracle), e-procurement specialists (e.g., Verian, BuyerQuest, Vroozi), catalog and network-centric providers (e.g., jCatalog, Simeno, Wallmedien, Perfect, Hubwoo, IBX) and many more vendors, all competing for customers.

Even given the competitive considerations, our initial take after looking at demonstrations of the current release as well as planned, roadmap capability suggests:

  • Tradeshift is not pursuing a “me-too” strategy with e-procurement, it is taking an approach that is quite different from incumbent providers across all segments of the e-procurement market. Our perspective is that it is likely to generate a culture of attraction (or not) with those who look at the current and planned set of capabilities and approaches. Organizations that will be drawn to it will likely self-identify when seeing it (versus those more likely to gravitate toward traditional P2P suite models from Coupa and others).
  • Putting catalog/content management at the center of the initial launch could suggest an initial coexistence strategy – despite Tradeshift’s aggressive marketing tone – with ERP and suite procurement vendors. Such capability can sit alongside other solutions, yet Tradeshift will likely want to eventually consume its hosts as it builds out broader capability (see below).
  • The solution (to date) does not represent a complete e-procurement capability – it brings a number of puzzle pieces together, such as catalog management, supplier enablement, and basic shopping. The coming quarters of development will be essential to bring a complete e-procurement solution to market, but procurement organizations should invest the time to get smart on what Tradeshift has today and is developing.
  • Tradeshift’s platform-as-a-service (PaaS) model is an essential component of the e-procurement offering and will hold the cards to future solution differentiation as the roadmap fully comes to life and takes e-procurement beyond search, shopping, requisitioning, workflow, catalog enablement and supplier network connectivity models alone.

Share on Procurious

Discuss this:

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.