Start e-invoicing in days: your guide to immediate impact and long-term success

April 27, 2020 Dave Kosovec

In the face of unprecedented disruption, many businesses are just trying to survive and make it through to the other end. Here at Tradeshift, we want to help as best we can to find the right solution. 

That’s why we’re providing businesses a fast-start e-invoicing solution. In as little as seven days, we’ll get your business set up and receiving e-invoices from your sellers on the Tradeshift network.  

According to a recent study by Ardent Partners, nearly half of all invoices are sent manually on paper. And with social distance measures making paper processing unworkable, millions of invoices are going unprocessed and unpaid every day. 

By fast-tracking the journey to e-invoicing, we’re offering an immediate solution to this challenge. Doing so will relieve pressure on accounts payable by allowing them to work remotely and reducing the time spent managing invoice exceptions. It’ll also help to ensure payments continue to flow through supply chains, building resilience and mitigating the negative economic impact of the crisis.

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. 

How we connect buyers and seller right away

To rapidly get your business live on Tradeshift’s platform, we deploy our fast-tracked onboarding process that’s specifically configured to provide the functionality needed to rid paper from your processes with minimal effort.  

Here are the simple steps we take you through to see immediate relief while setting you up for long-term success:

Step one: Setting up and configuring your account

We start by setting up your account on the Tradeshift network and configure it with a series of data validation rules. These rules immediately flag invoices that come through with errors—like missing data fields—helping reduce the work for accounts payable.

We’ll also build a custom pathway so that your team can access the invoices sent through the Tradeshift platform without altering their workflow. They can receive the invoices by email or FTP/SFTP/FTPS—whichever works best for your team.

Step two: Connecting with supplier already Tradeshift network

After your account is set up, we’ll build your network using your supplier master data. And with over two million businesses transacting on the Tradeshift network, it’s likely many of your sellers are already active on the platform. We’ll get these connected to your profile and notify them when you’re ready to start receiving invoices through the platform.

Step three: Onboarding suppliers that aren’t on the network

To onboard those sellers not on the network, starting with those sending paper invoices, our dedicated seller onboarding team will:

  • 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.

Here are some examples of these pages for our current customers:

Step four: Ongoing support

Once you’re live you’ll have full access to the Tradeshift University where you can learn more about the product. You’ll also have 365-day support should any issues arise that you cannot solve yourself. Night or day our team can 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 and build a foundation for tomorrow

With our fast track e-invoicing solution your accounts payable team can digitally connect with sellers and paper from their processes in a matter of days. 

Yet while our solution is built with speed in mind, we’re deploying it in a way that sets your business up from the future. When you’re digitally connected to your sellers it opens up a world of possibilities to transform how you engage and maximize the value of these relationships. For instance, the next step for many of our clients is to 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. 

Let’s move forward together

Our teams are primed to support you with whatever challenges your business is facing right now. And we’re ready to be your long-term partner and set you on the course for success. 

About the Author

Dave Kosovec

Dave Kosovec is Tradeshift’s Head of Product Marketing, leading product positioning and go-to-market strategy for the company. Dave has extensive experience in the supply chain and supplier financing space, having previously worked for SAP Ariba, Taulia, and Coupa in various product, sales, and consulting roles.

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