Number of active businesses transacting on the Tradeshift platform rises by 52 per cent year on year as large enterprises prioritize digitalization of manual process to support post-pandemic growth
Large organizations are accelerating the digitalization of manual process across supply chains according to Tradeshift, a leader in e-invoicing and accounts payable automation, which has signed 20 new deals for global enterprise customers since the beginning of its financial year on February 1st.
Tradeshift continued to expand its portfolio of major customers, with wins including one of the world's leading luxury brands. The company also continued to reinforce its leadership across key verticals, adding DB Schenker to its transport logistics roster, and signing a global deal with one of the most well-known companies in the consumer packaged goods sector. Meanwhile the number of active businesses transacting on the Tradeshift platform rose by 52 per cent year on year.
"We founded Tradeshift with a vision to connect every company in the world, digitally. A great start to the year has helped us take yet another step towards realising that vision," said Christian Lanng, CEO, Tradeshift. "Tradeshift's network model and our value proposition for suppliers set us apart from the majority of legacy systems which have done a fairly lousy job of digitizing the relationship between buyers and suppliers. Buyers are choosing Tradeshift because they are confident that suppliers will buy into our network approach."
Tradeshift's winning streak was underpinned by the company's thriving partner programme, which includes 10 global BPOs within a global ecosystem of more than 50 specialist resellers, technology vendors and solutions providers over 70% of new deals this financial year have been won in conjunction with a partner.
"With economies opening up, we are well positioned to support the wholesale digitalization of business processes. For organizations looking to grow in a post-COVID economy, this is fast becoming an organizational standard," said Christope Bodin, Chief Revenue Officer, Tradeshift. "The quality of our partner relationships will play an absolutely vital role in helping us to maximize the opportunities in front of us. It's also important that we're continuing to attract and retain the superior talent necessary to take us to the next level."
Tradeshift has made a series of strategic hires this year to bolster its leadership team as the company seeks to build on the sales momentum across its key territories. James Stirk, formerly of Financialforce, joined Tradeshift as Vice President, Sales for EMEA and APAC, while Christian Teuscher has joined from Anaplan as Vice President, Global Sales Operations. Jim Rahill has been promoted to Vice President, Sales for North America.
About Tradeshift
Tradeshift is a market leader in e-invoicing and accounts payable automation and an innovator in B2B marketplaces and providing access to supplier financing. Its cloud-based platform helps buyers and suppliers digitize invoice processing, automate accounts payable workflows and scale quickly. Headquartered in San Francisco, Tradeshift's vision is to connect every company in the world, creating economic opportunity for all. Today, the Tradeshift platform is home to a rapidly growing community of buyers and sellers operating in more than 190 countries. Find out more at: Tradeshift.com
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Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Tradeshift undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. 2021 Tradeshift Holdings Inc. All rights reserved.
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