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.
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.
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.
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.
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.