Tradeshift, the leader in supply chain payments and marketplaces, today announced a partnership with Wax Digital, a leading supplier of spend management solutions for enterprise and midsize businesses. Together, they will provide clients with a flexible, customer-focused, procurement tool called web3.
“We’re delighted to work with Tradeshift as a formal partner within their app ecosystem,” said Paul Ellis, CEO at Wax Digital. “We have integrated our web3 software suite into the Tradeshift network as an app, delivering a market-leading and transformative business solution.”
The partnership will allow businesses on the Tradeshift network to access Wax Digital’s web3 software suite within the app ecosystem. Buyers will be able to use sourcing and contract life cycle management modules from Wax Digital to send proposals to suppliers, award those suppliers, and negotiate contracts. Web3’s intuitive user interface, rapid deployment and unlimited scalability allow organizations to realize increased efficiency of the e-sourcing process as well as improving supplier contract management. Manual processes are automated and complexity is reduced, enabling businesses to respond to changing market conditions and drive digital transformation.
“Beyond the dematerialization of invoices, Tradeshift digitizes the relationship with suppliers. But our customers have been seeking to extend their collaboration with suppliers on upstream processes, such as sourcing and contract lifecycle management,” said Bruno Laborie, Senior Director of Global Alliances at Tradeshift. “Due to this demand, Wax Digital is a natural fit for our platform.”
Tradeshift identified this partnership as an opportunity to reduce supply chain risk for organizations utilizing the Tradeshift platform. Businesses on the Tradeshift platform will be able to source from their existing suppliers but also identify suppliers with whom they are not yet connected. Users of the app will also benefit from the collaboration capability available on Tradeshift.
Tradeshift drives supply chain innovation for the digitally connected economy. As the leader in supply chain payments and marketplaces, the company helps buyers and suppliers digitize all their trade transactions, collaborate on every process, and connect with any supply chain app. More than 1.5 million companies across 190 countries trust Tradeshift to process over half a trillion USD in transaction value, making it the largest global business network for buying and selling. Discover commerce for all at tradeshift.com.
About Wax Digital
Wax Digital delivers the web’s favourite integrated Source to Pay solutions to savings-focused organisations around the world. Our intuitive web3 software is deployed via the cloud to 260,000 users in over 100 countries, carrying tens of millions of transactions efficiently and securely every year. Seamlessly integrated with back-office systems, suppliers and third-party data points, web3 creates a truly 360° spend management capability, bringing control, compliance and cost saving throughout the entire purchasing lifecycle.