Tradeshift Taps DXC Technology For AP Analytics

A collaboration between DXC Technology and Tradeshift will attempt to work out the kinks on accounts payable (AP) and procurement functions, according to a press release.

Many accounts payable processes are discordant and unwieldy, with time cycles that take too many important resources and slow companies down, the release states.

But DXC, which works with artificial intelligence (AI), and Tradeshift, which deals in a number of apps, have teamed up to speed up the invoicing process, handle cash in more efficient ways and use analytics to help assess better ways to do business.

Business customers will work with DXC’s robotic process automation platform in conjunction with other technology in order to explore new facets of the business world in the modern day, the release states.

Aniket Maindarkar, vice president and general manager of Business Process Services with DXC Technology, said the struggles in end-to-end visibility across networks of suppliers have made it necessary for improvements in the field. The collaboration, according to Maindarkar, would do away with the need for scanning and paper-based production, and overall speed up the process of invoicing and similar needs.

The gig economy, and the vast nature of the digital landscape, have exposed the numerous different types of payment ins-and-outs available. There are property managers who need to manage rent deposits and referral payments. In the automotive industry, lending and insurance payments pose varying questions.

The gig economy features new scenarios, such as food delivery workers who need access to funds immediately to fund a customer’s purchase. Some companies need to pay gig workers fast in order to keep meeting customer demands for quick deliveries.

Speed is the constant in those types of interactions, which means many traditional styles of accounting may not be optimal anymore, being too sluggish to adapt to the modern world.