Work smarter, not harder with these product enhancements from Tradeshift.

As we embark on a new journey in 2022, we are thrilled to present our Spring Product Release with its suite of product enhancements that will help you hit the ground running. 

How? By enabling you to digitize and fortify your supply chain, automate document processing and grow your supplier ecosystems.

2021 was a challenging year for supply chains. Disruptions to global supply networks, a breakdown of conventional operating models, and forced digitalization in many sectors have reshaped the way we do business. Let’s take a look at how our new product features can help organizations like yours tackle these challenges head-on.

The features will be gradually rolled out beginning with March 21st.

Digitize your supply chain from the ground up.

Enable your suppliers. Fast.

Companies all over the world have recognized they must develop a deeper understanding of their supply chains. And that building a healthy supplier ecosystem needs to begin from the ground up.

For many of our customers, that means swiftly enabling their supplier network on the Tradeshift platform. The challenge for sellers is that enablement can be a frustrating, time-consuming process. 

That’s why we developed our hassle-free supplier enablement process which includes: 

• Testing seller integrations before invoice dispatch for faster issue resolution
• Automating invoice enrichment with data from the Tradeshift platform to reduce the burden on sellers
• Utilizing machine learning (ML) to help automate the mapping of data from PDFs to eliminate manual work 

Shopping made easy.

The best kind of shopping happens when you know precisely what you are buying. Our Spring 2022 release facilitates a better shopping experience for all parties involved by simplifying the product content enhancement processes.  

Sellers can more easily upload new structured product attributes, including unit of measure for color, weight, size, etc. This empowers buyers to save time and money with more informed purchasing decisions. To add even more value, marketplace operators can now enrich product content from 3rd party systems via a new API.

Increase productivity with automated document processing. 

Free-up time for high-value work. 

71% of businesses say they plan to automate their accounts payable (AP) function further in 2022, according to the Institute of Finance and Management (IOFM). 

With the Spring 2022 Release, Buyers can now automate recurring invoice processing by matching invoices for predicted spend with pre-defined rules for orders, budget, schedule, and invoice amounts. Invoices can be mapped individually against multiple Pro-forma plans, allowing customers to process multiple invoices simultaneously for recurring spend. The even better news? This translates to extra time for AP departments to focus on more valuable assignments than repetitive tasks, resulting in a lower cost per transaction. 

Harness the power of AI.

We know our customers are keen to utilize Ada (Tradeshift’s AI technology) to the fullest. With the Spring 2022 release, you gain greater control by combining your knowledge and expertise with Ada’s AI capabilities. With the new coding and matching enhancements, you can add specific rules that align with the objectives and datasets for your organization, such as tax accounting. These improvements to the rules engine will help you get faster and more accurate AI-powered recommendations.

Work smarter, not harder.

When tasks need to get done, and documents need to be processed, prioritization is key. 

For our Spring 2022 Release, we have enhanced the Task Manager and Document Manager apps, making it easy for you to filter the views. Whether you are a buyer or seller, you’ll only see the tasks and documents that are important to you. And, with this new functionality, you’ll also get an overview of the documents and tasks you need to work on with filtered views for easy access later.

Accelerate processing times. 

All companies want (and need) faster document processing times. With the new task type developed for the Spring 2022 Release, users who need to collaborate with colleagues (to find a seller address or a tax code, for example) can now easily assign tasks to them — which can significantly cut processing times for invoices. No need to wait around for a response in the chat anymore!

Grow your supplier ecosystem for a healthier supply chain.

Connect to your suppliers no matter what. 

Partnering with suppliers in different regions is critical to ensuring the resilience and flexibility of your company’s global supply chain. But manually tracking and checking compliance requirements for sellers located in different countries around the world is no simple task.  

With the Spring 2022 Release, we help businesses connect even more efficiently by automating the validation of compliance rules for sellers based on their country. These automated validations are currently available for forty countries and are continuously updated as regulations change.