Tradeshift: Vendor Analysis, 2023 Update (Part 1) — P2P solution overview, market analysis, company SWOT, competitors

Founded in 2009 in Copenhagen, Denmark, Tradeshift began with a strong focus on e-invoicing, enabling businesses to streamline their invoicing processes. In 2010, Tradeshift expanded its presence to the United States, opening an office in San Francisco, California. The platform's innovative approach to digital procurement captured the attention of businesses seeking to enhance their supplier relationships and automate invoicing.
Tradeshift's trajectory took a significant turn in 2013 as it secured a substantial round of funding, propelling its global expansion and further development of its platform. The year 2016 marked a pivotal moment for Tradeshift as it ventured into strategic acquisitions, including the purchase of IBX Business Network and Merchantry. These acquisitions bolstered the capabilities of its platform, turning it into a comprehensive solution for supply chain management and procurement.

By 2018, Tradeshift had evolved into a global business network that connected buyers and suppliers across diverse industries and regions. Its platform introduced innovative features, such as AI-driven procurement and payment solutions, to meet the evolving demands of the market.

Throughout its journey, Tradeshift has remained at the forefront of e-invoicing, funding and supply chain solutions, offering businesses the tools they need to streamline their operations and enhance their supplier relationships in an ever-evolving business landscape.

This vendor analysis update includes the following. Part 1 provides an overview of Tradeshift’s integrated solution, a company-level SWOT analysis and a list of key competitors. Part 2 examines the solution strengths/weaknesses and offers tech selection tips. Part 3 provides a detailed overview of each module and an analyst summary.

Here’s why Tradeshift matters:

To the market — Tradeshift is a platform that has managed to leverage its business network to achieve a network effect for its marketplace and e-invoicing offering, V-Card and SCF programs with the highest volume within the P2P solutions market. In addition, Tradeshift offers an open integration framework that allows other technology firms (and customers) to integrate and/or develop third-party apps, primarily centered on supplier connectivity, transaction enablement and collaboration.

To customers — Tradeshift is a globally compliant, modern, easy-to-use business network with strong AP automation capabilities, supplier connectivity and open ecosystem marketplace.

To potential buyers — Tradeshift delivers best-in-class capabilities across a broad range of invoice-to-pay functional requirements that comprise app components on the Tradeshift platform (in addition to solid performance in e-procurement).