B2B Payments

Handshake Mobilizes B2B eCommerce Tool

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Hot off a $14 million funding round, software firm Handshake has rolled out a new service for the enterprise.

Reports on Friday (April 22) said Handshake has launched the mobile version of its B2B eCommerce service, meaning wholesalers and suppliers can link to potential buyers on mobile phones and tablets.

Handshake Direct Mobile will first see a release for Apple iOS devices, with a launch for Google Android hardware later this year, reports said.

Handshake, which provides inventory management software, entered the B2B eCommerce game with Handshake Direct, a cloud-based platform that can help retailers restock when inventory levels are low.

The solution integrates into supplier ERP, invoicing and logistics systems.

Last year, Handshake revealed a partnership with SME accounting firm Xero to streamline the accounting process into Handshake’s procurement and inventory management solutions.

According to the company, this automation is part of an effort to reduce errors in the inventory management process. A mobile solution can help in that initiative, with Handshake Mobile Direct allowing for users to scan barcodes to automate data entry.

In an interview with DC Velocity, Handshake CEO Glen Coates pointed to the potential for significant errors if even one number is off in a supplier’s inventory management process.

“If you get a SKU wrong by one digit, then the customer gets a couple pallets of the wrong soft drink,” he said. “That’s an expensive mistake to fix, not to mention the amount of time that the retailer doesn’t have the product on their shelves.”

In March, Handshake announced a $14 million funding round led by Sozo Ventures, bringing its total amount of funding to $23.5 million.

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