Tradeshift Platform Achieves Rapid Global Adoption and Expansion
SAN FRANCISCO–Tradeshift, the fastest growing supplier collaboration platform, today announced significant progress across all aspects of its business, including new enterprise customers, rapid onboarding of new suppliers, and broadening marketplace of third-party apps. Tradeshift has seen a total of 2.2 million app activations from buyers and suppliers on the network. Monthly transactions on the platform have grown over 200% in the last six months.
The rapid growth is attributed to Tradeshift’s successful market disruption strategy and the mainstream adoption of its platform by new global customers including: Europe’s third largest airline by passenger volume, Air France-KLM; automotive parts manufacturer, SNOP; the biggest fashion group in the world, Inditex; 150-year-old automotive technology provider; a DAX 30 German electric utilities company, plus several CAC-40 French utilities companies; and, FTSE 250 engineering firm, Vesuvius.
By providing an open supplier collaboration platform, rich in third-party apps, with the fastest onboarding system in the market, and the ability to manage direct and indirect spend, Tradeshift now stands apart in the industry. Companies can manage more of their spend all while enjoying better collaboration and trusted relationships with suppliers.
Tradeshift has built an extensible platform comprising a rich ecosystem of its own and partner apps using the Tradeshift APIs. In the last two months alone, the company has partnered with an innovator in Supply Chain Management (SCM) solutions, Quyntess; global working capital exchange, C2FO; and Supplier Sustainability Rating platform, EcoVadis. The breadth and depth of supplier collaboration apps on the Tradeshift platform including Procurement, AP Automation, Supplier Management, and Working Capital Solutions has created an unmatched customer proposition in the global supply chain collaboration market.
“Businesses need to collaborate instantly and digitally with their supply chains. They are also desperate to unfetter themselves from costly and rigid legacy ERP systems,” said Christian Lanng, CEO and co-founder of Tradeshift. “They need total visibility into all their direct and indirect spend, and the tools to manage the entire procurement, AP, working capital and supply chain network. This is the vision we have built Tradeshift on and the market is giving us a loud approval.”
“It is not often that a coherent, multi-app platform actually reaches the point of self-fulfilling network-effect growth. This only happens when the platform attracts enough critical mass of app providers who decide to build on the platform and enough customers and suppliers who connect to the network to create that snowball effect,” said Bill McBeath, Chief Research Officer at ChainLink Research. “That appears to be what we are witnessing on Tradeshift’s networked platform with the steady stream of new capabilities, partners, and customers in recent months.”
To accelerate execution of the company’s strategic vision, Tradeshift has also boosted its executive leadership with the appointment of industry veteran Jigish Avalani to the role of President and Chief Operating Officer, and industry visionary Lone Fonss Schroder has joined the company’s board of directors.
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, Tokyo, Munich, Frankfurt, Sydney, Bucharest, Oslo, Stockholm, and Kuala Lumpur.