Tradeshift has launched Tradeshift Engage in the Middle East & Africa (MEA) region, bringing to local companies a simple cloud-based solution to fully digitize supply chain invoicing and payment systems to immediately address the cash flow and liquidity challenges businesses are facing in the current COVID-19 economic environment.
The Silicon Valley-based Tradeshift, which recently launched its MEA headquarters in Dubai, enables enterprise companies that want to fully digitize their supply chain relationships to do it with speed and efficiency. Tradeshift Engage allows buyers to bring to their suppliers a value proposition that offers immediate and tangible benefits without any of the heavy lifting associated with traditional onboarding initiatives. The system enables the buyer and supplier to track invoices in real-time, with an option for a flexible payment system that allows the supplier to receive payment directly from Tradeshift, preserving working capital for both the buyer and supplier.
Delivered to sellers as a cloud and mobile responsive solution, which takes just a few minutes to activate, Engage offers sellers data-driven insights based on their relationship with the buyer by providing real-time visibility into transactions and the ability to finance payables on-the-go.
The Tradeshift Engage app provides sellers with a full set of eInvoicing, ordering and fulfilment tools, such as digital Invoice and Credit Note creation, responding to POs and PO changes, sending shipping notices and being informed of receipt status. Sellers can easily engage and collaborate with multiple buyers through a single interface that enables real-time issue resolution. An intuitive Dashboard also allows sellers to maintain an overview of everything in-flight.
The system draws on existing data from the buyer’s ERP or system of record to complete a supplier profile that includes a full and accurate history of transactions. Early adopters of Tradeshift Engage have seen unparalleled levels of uptake by their seller communities. One major international buyer was able to connect with 5000 suppliers in just four weeks while reducing seller support calls to zero.
