B2B Payments

Tradeshift Loops Users To BuyerQuest eProcurement Solutions

B2B eCommerce

Electronic procurement and B2B eCommerce solutions provider BuyerQuest is joining the Tradeshift App platform, allowing Tradeshift users to access BuyerQuest’s offering.

In a press release Thursday (April 4), the companies said BuyerQuest is now a part of the Tradeshift App platform, which will enable current users of Tradeshift Pay to access BuyerQuest’s eProcurement app to manage spend and bolster supplier relationships. Using the Tradeshift Link integration feature — the result of Tradeshift’s takeover of Babelway — joint customers can see both their Tradeshift and BuyerQuest solutions integrate with each other.

“We are excited that BuyerQuest is joining the Tradeshift apps ecosystem as the latest of a long list of app partners,” said Tradeshift Chief Executive Officer and Co-Founder Christian Lanng in a statement, adding that BuyerQuest is addressing the biggest challenges of an “older and inflexible procurement market.”

“Similar to BuyerQuest, Tradeshift values agility and usability as highly important ingredients to the success of enterprise P2P [procure-to-pay],” added BuyerQuest Chief Executive Officer Jack Mulloy in another statement.

Tradeshift noted other recent B2B FinTech players that have joining its app platform, including financial risk management firm Coface, supply chain management company Quyntess, and cross-border payments firm TransferMate.

Earlier this year reports from another eInvoicing and B2B payments company, Basware, revealed that the company ended merger talks with Tradeshift, citing “conditions in the capital markets.” The firms are now in a standstill agreement until November of this year.

That same day, Tradeshift announced a partnership with TransferMate Global Payments in another app integration to streamline and digitize supply chain payments. Their connectivity enables same-day cross-border payments for corporate customers.

“More accurate, faster cross-border payments such as those that TransferMate provides are a critical value add to our customers,” Lanng said in a statement at the time.

BuyerQuest, meanwhile, has also focused on integrations, having partnered with ConnXus in 2017 to integrate BuyerQuest’s B2B eCommerce solutions connecting into ConnXus’ supplier management software via API.

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