The partnership will see Spendency’s purchasing and spend data management offering integrated into the Tradeshift platform, allowing businesses that pay their vendors via Tradeshift to seamlessly manage and analyze that transaction data from within the solution. The companies are targeting enhanced decision-making for procurement officials with their combined solution.
Spendency also highlighted its ease-of-use, noting that users can drag and drop transaction data into its solution for automated analysis and visual representations of that analysis. Companies can adjust the parameters for that analysis based on timeframes, category, vendor and more.
“Our customers are processing millions of transactions every year, so understanding their data is an important need for them,” said Tradeshift senior director of global alliances Bruno Laborie in a statement. “This is why adding a strategic app like Spendency is an imperative addition to our platform.”
The addition of the Spendency app onto Tradeshift’s platform comes after the B2B payments company called off a proposed merger with eInvoicing and B2B payments company Basware in February. Tradeshift first confirmed the end of potential Basware takeover discussions citing “conditions in the capital markets.”
Basware confirmed to Bloomberg reporters last November that it had received an unsolicited takeover proposal from Tradeshift, though financial terms of that offer were not disclosed.
Also in March, Tradeshift revealed another collaboration with TransferMate, whose Global Payments offering is now integrated into the Tradeshift platform to enhance cross-border payment capabilities.
“More accurate, faster cross-border payments such as those that TransferMate provides are a critical value add for our customers,” Tradeshift CEO Christian Lanng said at the time.
In July, Tradeshift announced the ability for business users to obtain a single-use virtual card on demand and issue them to their employees for one-off purchases.