Tradeshift Chosen to Help Zurich Insurance Group ‘Change the Way it Does Business’
Tradeshift, the leading global supplier collaboration platform, today announced that it has been selected by Zurich Insurance Group (Zurich) (VTX: ZURN) to help optimize the insurer’s supplier-facing business processes by delivering innovation, efficiency and cost reductions in its global accounts payable and procurement operations.
Tradeshift’s network-based, procure-to-pay solution will help Zurich enhance and automate several processes in accounts payable, such as reducing and replacing paper invoices with automated e-invoicing with workflow. In turn, the costly repetitive administrative-intensive aspects of invoicing and transactions will be a thing of the past. Suppliers to Zurich will be able to easily upload invoices and, ultimately, manage their own data for improved accuracy.
Additionally, Zurich will be one of the first customers to implement Tradeshift® Buy, the all-in-one, integrated procurement solution.
“In line with Zurich’s commitments to corporate and environmental responsibility, we are delighted to work closely with Tradeshift on a sustainable approach to processing supplier invoices, and towards an entirely electronic procure-to-pay process. As we will utilize Tradeshift’s invoicing solution, we are also excited to leverage its integrated eProcurement capabilities to support the procurement vision across our geographies,” said Kian Shroff, Global Head of Procurement at Zurich.
By combining Tradeshift’s AP automation and operational procurement tools, Zurich will have an integrated solution that delivers user-focused best practices, reduced supply chain management costs, and innovation that is all enabled by the unique design of the cloud-based global platform.
Zurich plans to first implement Tradeshift in Europe and then later in the US. Zurich also has ambitious plans to expand the solution across its other regions.
“The addition of Zurich is a milestone as we continue to rapidly grow our customer base in Europe,” commented Charles Royon, Vice President EMEA, Tradeshift. “The company has selected Tradeshift over competing offerings because we will help them think differently about their processes and align them to best practices. We are excited to be a part of the journey that Zurich has embarked on and look forward to help deliver to this global company a highly efficient and collaborative supply chain.”
Founded in 2010, Tradeshift is the world’s largest business commerce platform that connects buyers and sellers. Tradeshift connects over 1.5 million companies across 190 countries, processes over half a trillion USD in transaction value yearly, and has a marketplace containing 28 million SKUs. It offers solutions for procure to pay, supplier engagement and financial services, and enables companies and partners to build custom or commercial apps on its business commerce platform. Tradeshift is headquartered in San Francisco, with offices in Copenhagen, New York, London, Paris, Suzhou, Chongqing, Tokyo, Munich, Frankfurt, Sydney, Bucharest, Oslo, and Stockholm.