As many more tech tools emerge in the accounts payable marketplace, it can be challenging to navigate the nuances of each offering. Which tools are actually worth the investment, and which ones are bundled to look pretty but fall short on delivery? Before you get executive buy-in on investing in new AP automation tech, you want to ensure that the ROI you’ll receive is worth the effort. Below we break down 3 ways Tradeshift Pay stands above the crowd when it comes to AP and supply chain management technology.
One of the largest problems that suppliers and buyers face is a lack of communication and collaboration regarding the supply chain process. It can be difficult to consolidate your data and create a cohesive strategy when using multiple platforms and tools. And, as supply chain lines become increasingly complex due to the rise in global trade, supply chain professionals need to find tools that help clean up the clutter.
The Tradeshift platform helps you to centralize your database and streamline your operations. Tradeshift Pay takes in all your invoices digitally, regardless of how you receive them. This helps to ensure you standardize your processes and have a digital trail for data storage and tracking. The added benefit of investing in Tradeshift is our commitment to ensuring compliance. Our partnerships with compliance experts and multi-way matching approach ensure all invoices that cross your path are up to standard.
Additionally, our B2B marketplace stores all your communication records in one location so that you and your sellers can easily access your communication history. Unlike traditional suite solutions, Tradeshift Pay is part of a B2B marketplace, meaning you can activate and utilize other apps alongside our tools.
With traditional AP automation and supplier collaboration software, there can be a long, tedious onboarding process. Getting everyone set up on the same platform and educated on how to use the tools can take days or weeks, lengthening the time it takes to return a profit on your investment. Let’s face it; the longer it takes to get your processes up and running, the less satisfied your suppliers will be.
However, not all AP software is created equal. Tradeshift’s software solutions help provide a customized approach to onboarding, letting you tweak the process as you go to better to fit the style and needs of your suppliers. Our digital platform enables you to add supplier information and data ahead of time so that when your partner joins our Network, they can hit the ground running.
This helps you cut back on time wasted onboarding and enables you to demonstrate the value of Tradeshift right from the start. Tradeshift is focused on helping you build out your professional network rather than just onboarding new sellers.
Your time as an AP expert or supply chain professional is much better spent communicating with sellers, enhancing your professional network, and evaluating and analyzing your processes for areas for improvement. That’s why you need to find a digital platform, equipped with AI, that can handle the tedious and time-consuming tasks filling up your day.
Our advanced AI-AP automation learns how you want to code and approve invoices and effectively eliminates those steps. And at the helm of it all, you’ve got control to adjust the level of involvement AI plays in your processes. This gives you unparalleled control over your automation capabilities, helping you eliminate errors and exceptions.
The road to embracing an advanced, automated AP process doesn’t need to be long or difficult. By investing in the right tools and software solutions you can shift your organization from a tactical one to an insight-driven one. To learn more about our Tradeshift Pay solution or see our software in action, reach out to our team of experts and start your free demo today.