Tradeshift Launches Tradeshift Buy, a New eProcurement Solution

Tradeshift is a global network and platform that connects buyers and suppliers, and the firm is seen by some as the “enfant terrible” of the procurement technology world. That's not to downplay their success or vision, which, starting from Christian Lanng and his initial innovative eInvoicing proposition, has now expanded out into a much wider platform. That includes both their own "products" and an environment for others to provide their applications (such as Selectica / Iasta with their recent announcement we mentioned here).

The image is more about the tone Tradeshift adopt, and their press release headline last week announcing the new Tradeshift® Buy product was classic - “Tradeshift Disrupts Stagnant eProcurement Category With New End-to-End Solution”.

Personally, I'm all in favour of creating a bit of excitement in our procurement world, which many people (including my family) feel is a little dull for some reason. Others may think that a world that contains eProcurement firms as dynamic and forward thinking as Coupa, Wax Digital, or Ivalua, and as "next generation" as Vroozi and Buyerquest can hardly be described as “stagnant”!

Anyway, what is it that Tradeshift have actually launched? 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” eProcurement 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

Our US colleagues covered the announcement here, and there will be more to come on our subscription site PRO soon as well. Jason Busch’s initial take is that this is perhaps not the full end-to-end eProcurement capability and that the focus on catalogues means this might sit very well alongside other vendors’ P2P products, despite Tradeshift’s comments on other providers.

Tradeshift are placing emphasis on usability and visibility, including the claim that this introduces “the world’s first central, searchable product database”. There is also an emphasis on collaboration and innovation rather than “fixation on transactions and costs”. Here’s the final word (for now) from Jason Busch.

“Tradeshift is entering the eProcurement and broader source-to-pay market as an antagonist with a radical perspective on how to improve corporate buying. They’re starting out with various pieces of the procurement technology puzzle including a B2C grade (high-end) product/catalog information management capability, the only true platform-as-a-service (PaaS) capability (and application network) in the sector and broader capability spanning eInvoicing, AP automation and supplier management. We welcome Tradeshift's entrance as a procurement suite vendor which is not just taking the road less travelled but blazing a completely new trail.”

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