Here’s everything you need to know about the Magellan 4 release of Tradeshift

February 16, 2018 Amy Moore

It’s time to celebrate another Tradeshift release, Magellan 4! Going live today, this quarter’s update helps procurement and payments professionals:

  • Gain more control of unique company processes and workflows
  • Modernize the buying experience for accounts payable and procurement practitioners
  • Do business around the world with e-invoicing compliance in even the most demanding countries

Business Your Way

Now it’s easier than ever for both seasoned users and first-time users to get the most from the Tradeshift user experience. Enhanced navigation, including  the new App Launcher, allows you to configure your Tradeshift navigation experience and easily click the apps you need to complete your tasks, on any device.

Enhanced navigation with App Launcher: Click to collaborate and transact with apps – desktop and mobile.

Supplier surveys help companies collect and maintain company- and category-specific information about their supply base. But when different people in an organization manage different categories of suppliers, it’s difficult to get the right individuals to review the right survey responses. Magellan 4 removes that friction, allowing companies to assign a contact to a supplier account and to a survey question. Whether you use Tradeshift Buy for procurement or Tradeshift Pay for AP automation, now you can better align supplier management programs with their category management organizations and activities.

Configurable approvals on surveys: Ensure that each supplier is dealt with by the correct person.

Procurement workflows help companies ensure each step in a purchasing process gets followed, and you can drive compliance by tailoring workflows to the needs of the user. Now with Tradeshift, you can manage commodity-specific rules for purchase requests and trigger purchasing assistance to initiate collaborative workflows when needed. The new intuitive configurator enables you to define your approval flow in minutes without any programming skills. Hierarchy- and threshold-based commodity approval rules allow for comprehensive spend control by involving the right people at the right time.

Experience the Future of Buying

Tradeshift provides modern tools for modern procurement teams, enabling organizations to experience the future of buying. I mentioned already how you can customize your own user experience with an enhanced mobile-ready navigation and App Launcher. In addition, you can quickly collaborate (internally and externally) and manage tasks, on any device, using the universal inbox. Also, with the Task Manager now enabled for buying, you can get real-time information and status updates, including from integrated systems, on all your Buy tasks and actions. See appropriate follow-up actions, and decide whether to re-assign requests or delegate approvals–all at a glance, in just a few clicks.

Task Manager enabled for Tradeshift Buy: Customize worklists for individuals and teams to process documents more efficiently.

Tradeshift continues to deliver the modern, buying experience that today’s buyers expect. With this release, buyers of all levels can navigate, search, and filter for what they need–making business buying as easy as shopping on digital marketplaces like Amazon. Buyers can see preferred suppliers, and can collaborate with their procurement team on the spot to receive assistance.

Enhanced buying experience: Easily find the right products and services in your marketplace.

Enhanced procurement assistance: A flexible process that enables collaboration, speed, and control.

Business Anywhere

A network needs to enable a company to do business with anyone, anywhere, all while ensuring compliance. In Magellan 4, Tradeshift ensures that invoices are legally compliant in India, which has one of the world’s most demanding compliance requirements. Also, for buying scenarios that require users to punch out to a supplier’s web shop, companies can quickly set up the integration for both OCI and cXML standards.  

What’s next

Visit the new Tradeshift.com to see how Tradeshift Buy, Tradeshift Pay, and Tradeshift Apps can help you manage buying and payments for your business, your way.

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