SAN FRANCISCO–(BUSINESS WIRE)–Tradeshift, a market leader in e-invoicing and AP automation has announced that the cumulative value of transactions processed across its platform has passed the $1 trillion threshold.
“When we first started Tradeshift it took us two years to reach $1billion in transactions,” said Christian Lanng, CEO, Tradeshift. “The fact that we’ve gone from $500billion to $1trillion in a similar timeframe is a testament to the virality that our network model creates across communities of buyers and suppliers, and the genuine value we deliver to everyone who connects to our platform.”
Tradeshift’s achievement is all the more remarkable in the context of a pandemic which brought supply chains to a near standstill in the first half of 2021. Data from Tradeshift’s Index of Global Trade Health shows global transaction volumes dropped by as much as 15 per cent in Q2 2020 before recovering in the second half of the year. Tradeshift has seen a significant uptick in transactions across manufacturing supply chains in Europe and the US since the beginning of 2021.
“We’ve helped a lot of businesses to stay operational and get paid during an extremely volatile period,” said Lanng. “Every time a business joins our platform it unlocks a whole ecosystem of relationships that we can help to digitize. This sets us apart from the majority of enterprise software providers who remain preoccupied with building connections one at a time, with next to no value for suppliers. Products like Tradeshift Engage make the onboarding process fast, painless and valuable for suppliers right from day one. It’s a powerful proposition made all the more compelling by experiences of the past year.”
Tradeshift has signed 20 deals with large enterprises since the beginning of its financial year on February 1st, while figures for June 2021 showed the number of active businesses transacting on the Tradeshift platform had risen by 52 per cent year on year.
Tradeshift is a market leader in e-invoicing and accounts payable automation and an innovator in B2B marketplaces and providing access to supplier financing. Its cloud-based platform helps buyers and suppliers digitize invoice processing, automate accounts payable workflows and scale quickly. Headquartered in San Francisco, Tradeshift’s vision is to connect every company in the world, creating economic opportunity for all. Today, the Tradeshift platform is home to a rapidly growing community of buyers and sellers operating in more than 190 countries.
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Tradeshift undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations.
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