This article on how to start an e-invoicing solution was originally published in April 2020. All relevant material and statistics have been updated as of June 2021.
Many businesses are just trying to survive and make it through to the other end in the face of unprecedented disruption. Here at Tradeshift, we want to help as best we can to find you the right solution. That’s why we’re providing businesses a fast-start e-invoicing solution. In as little as 7 days, we can have you up and running on our Tradeshift network.
Using e-invoicing to eliminate paper
According to a recent study by Ardent Partners, nearly half of all invoices are sent manually on paper. However, as continued remote work and social distancing make paper processing unworkable, millions of invoices are unprocessed and unpaid each day. The truth is paper invoices are a way of the past. Moving forward, organizations need to embrace e-invoicing to keep their operations running smoothly.
By helping to fast-track your journey to e-invoicing, we’re offering an immediate solution to this challenge. This will help ease pressure on your accounts payable team by allowing them to work remotely and reduce their time spent managing invoice exceptions. Additionally, you’ll be able to ensure payments continue to flow smoothly through your supply chains. This builds resilience and mitigates the negative economic impacts from the COVID-19 crisis. At Tradeshift, we’re well on our way towards finding solutions that help you. We’re already working with hundreds of companies across industries, including Unilever, Corning, HSBC, Best Buy, and Levi’s. And we’re ready to support your business.
We connect buyers and sellers instantly
We employ our fast-tracked onboarding process to get you on the Tradeshift platform quickly. Our customizable experience is specifically configured to provide the functionality and support you need to succeed. And through that, you’ll notice real value on day one. Our process is geared towards providing you the tools and platform you need to rid paper from your processes with minimal effort.
Below we break down the 4 steps we take to provide immediate relief and set you up for long-term success.
Account set up and configuration
The first part of our process is to set up your account on the Tradeshift network. We work to configure it with a series of data validation rules. These rules are implemented to avoid invoice exceptions. If an invoice comes through that has any errors or missing form fields, the rules immediately flag it for your convenience. For example, if an invoice comes in missing a data field, our system will mark the invoice for you to refer to. This greatly assists with reducing the strain on your accounts payable team.
Additionally, our Tradeshift team works to build you a custom pathway. This means that your team will have access to invoices sent through the Tradeshift platform without worrying about altering their workflow. Your team can customize their experience with the Tradeshift platform. For example, they can choose to receive the invoices by email or FTP/SFTP/FTPS—whichever works best for your team.
Connect with sellers on the Tradeshift Network
After we’ve set up your account, we’ll move on to your professional network. We utilize your supplier master data to create a network that fits your wants and needs. Our B2B marketplace is filled with millions of businesses, all pre-vetted and verified. So, the chances are, some of your existing sellers might already be active on our platform. We work to find these connections and notify them once your account is up and running. This lets them know when you are ready to start receiving invoices through our digital platform.
Onboard sellers not on the Tradeshift Network
While some of your sellers might be active on our platform, the chances are some of them are not. But, our team of experts makes it quick and easy to onboard these sellers to our platform. Our dedicated seller onboarding team make sure to:
Build and run a personalized onboarding campaign
Introduce your sellers to the platform, support them as they get set up, connect them to your account, manage any inquiries, and get your sellers sending invoices right away using PDF Streaming
Create a customized landing page with information about your partnership with Tradeshift and how sellers can get started
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Provide ongoing support
Your journey with us doesn’t stop once we’ve got you up and running on our platform. After we’ve gotten your account live and you have been receiving invoices, you’ll have complete access to our training and development program, Tradeshift University, to learn more about our products. Tradeshift University offers best practices, advice, and answers questions you may have about using our products. Additionally, Tradeshift users get access to 365-day support. Our team of experts will always be around should any issues arise that you cannot solve yourself. Our team is ready to help you:
Use the features and functions of your Tradeshift account
Build and manage your network
Deal with technical issues that arise when you receive invoices from your sellers
Solve for today, build a foundation for tomorrow
The Tradeshift platform makes it easy to digitally connect your sellers to their paper processes in just a matter of days. That’s some real value you can showcase to your executives and sellers. While our solution is built with speed in mind, we’re implementing it in a way that prepares your business for the future. When you are digitally connected with your sellers, it opens up a world of possibilities to transform how you engage and maximize the value of these relationships. For instance, you can begin offering sellers two-day finance using our innovative, data-driven Tradeshift Cash solution.
And when you’re ready to take the next step, so are we. No matter what you want to achieve, we have digital playbooks and product packages to help you create a 100% digital, flexible, and strong supply chain that can propel your business into the future. As software built for adaptability, Tradeshift can evolve and grow alongside your company for years to come.
Let’s move forward, together
At Tradeshift, we are primed and ready to help you tackle whatever challenges you are currently facing. Our team of dedicated experts is ready and willing to help you set a course for success. When you become a Tradeshift user, you are investing in a long-term partner ready to help your organization reach new levels. Let’s make shift happen together. Reach out to our team to join a quick walkthrough of our platform and start your digital transformation today.
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