Supply chain payments solution provider Tradeshift is collaborating with professional services firm Genpact to broaden its procure-to-pay offering in an effort to support digitization and automation for joint customers.
The companies announced their partnership Tuesday (Oct. 29), with Tradeshift integrating its B2B network of buyers and suppliers with Genpact’s Cora digital business platform. Genpact will provide artificial intelligence, machine learning, robotic process automation, analytics and other technologies, while Tradeshift will connect joint customers to enterprise apps to support digitization and automation of accounts payable, procurement and supplier management operations for streamlined procure-to-pay.
Together, the companies said they are targeting cash optimization, strengthened invoicing infrastructure, elevated data capabilities, and access to insights-to-action analytics.
“Finance organizations often face challenges with [procure-to-pay] operations in viewing and analyzing data quickly across disconnected supplier systems, limiting the added value they could provide to respond more effectively to market demands,” said Katie Stein, Genpact chief strategy officer and global business leader. “The digital technology of our Genpact Cora platform, combined with Tradeshift’s sophisticated B2B network, creates a connected ecosystem that provides faster, smarter access to data to drive more strategic decisions.”
Tradeshift Chief Commercial Officer Rinus Strydom added: “Genpact is a leader in finance and accounting, with decades of experience running operations for numerous global Fortune 500 companies. Its deep process and domain expertise, coupled with its strength in analytics and artificial intelligence, will enable Tradeshift to scale its services faster to jointly help our clients speed their digital transformation.”
Last month, Tradeshift announced another partnership with spend analytics company Spendency, whose purchasing and spend data analytics technology will be integrated into Tradeshift’s procure-to-pay platform, allowing users to analyze transaction data.
In July, Tradeshift again augmented its platform with expanded capabilities for Tradeshift Go 2.0, allowing managers on the platform to connect their employees to virtual cards on-demand with spend visibility and controls.