Overview

New capabilities are available starting June 1st 2020 (general availability date), capabilities which will further how you’ve been using Tradeshift’s global digital network and platform to accelerate digital AP, automation, insights, seller value, and compliant procurement. Adopt the new features to engage your sellers, reduce AP work, reduce exceptions, and make buying easier and more collaborative for your users. At the same time, your sellers will enjoy benefits from working with you on Tradeshift. Here are some of the highlights:


Tradeshift Pay

  • Ada (Tradeshift’s Network AI) just got better at learning and suggesting. AI controls make it easy to get started and track Ada’s performance.
  • Control and streamline services confirmation processes, now with AI matching
  • More and easier ways to use digital validation in order to improve document quality and fast track invoices
  • Easy for sellers to flip multiple POs to an invoice and track what’s outstanding


Tradeshift Engage

  • Keep on top of critical profile changes to mitigate fraudulent activity, prevent accidental changes, and ensure compliance.
  • Payment reference connections that make it easier for sellers to track the invoice history and linked payments. Fewer seller inquiries on the buyer side and better cash forecasting on the seller side.
  • Sellers can quickly connect to all their customers when they join the Tradeshift network
  • Connectors that simplify and speed up integration automation and paperless invoicing


Tradeshift Buy

  • Help users get the related and necessary products they need with bundles
  • Now easier to manage offers and quickly enable user access to products
  • A network request for quote (RFQ) process to connect with suppliers and collaborate with Procurement to get a quick response for price or availability.
  • Improving order accuracy and timely fulfilment


Tradeshift Apps

  • The beginnings of navigation changes that Tradeshift will introduce in the next few releases that will significantly improve the user experience


Tradeshift Cash

  • Tradeshift Cash is the early payment solution that enables all sellers in your supply chain to get paid faster while providing you with accelerated digitization rates and working capital benefits
  • The Tradeshift Cash Seller Dashboard gives sellers the ability to easily monitor their program. New dashboard enhancements enable sellers to see the status of invoices, payments, deductions, credit notes, and short payments
  • Tradeshift Cash incentivizes sellers to more effectively adopt AP digitization initiatives. New enrollment feature enables sellers to self-enroll, allowing you to onboard all of your sellers quickly.

You will find all the material about the new features in the Knowledge Base, on the Tradeshift support portal.


Tradeshift Pay


Ada Coding (Enhanced) - Improved learning, presets and more performance tracking


Functionality

For Ada (Tradeshift Network AI) coding, improvements have been made to the way Ada learns and suggests. Ada has been optimized to perform better, and, when getting started, is made aware of all possibilities to better understand potential suggestions.

Also, in the previously released Automation Dashboard AP, process administrators can configure and keep track of how Ada coding is performing. It enables customers to introduce coding automation based on a preferred level of confidence. Customers can easily determine the tradeoffs as they increase or decrease the level of automation. In this release:

  • Users can click on the Sankey chart and drill-down further into the documents that went through a specific process flow.
  • Presets help end users and Professional Services colleagues determine an appropriate threshold for automation.
    • “Conservative” - optimize for fewest errors
    • “Balanced” - optimize for best cost trade-off
    • “Progressive” - optimize for high automation rate

Customers have better tools and information to set up the automation and explain how Ada is performing.


Availability

Available to customers who have already configured the automation dashboard.  For more information, please engage with your service delivery manager



Fast Track Workflow in Document Validation


Functionality

Customers who want to leverage workflow functionality in document validation, such as matching,, can do that without configuring workflow. Less complexity and the faster time to value means customers can quickly realize the matching that will increase straight-through processing for more of their invoices.


Availability

The feature requires configuration, but the new configuration is easier to set up because you do not need the entire workflow set up.




Matching with Confirmations


Functionality

To control services spend, companies can require a confirmation from the buyer/requester to validate that a service was performed, and streamline a process that avoids an ill-suited Goods Receipt or cumbersome approval process. The buying company will set a flag in the order where a confirmation is required. A one-click confirmation indicates that the services were performed and the invoice can be paid.

Now with AI-matching, introduced in a previous release, customers can use the confirmation process that was previously known as Approval after Matching . Ada will perform the mapping between invoice lines and order lines.

In addition, for customers who want to check PO invoice coding and blanket order invoices before accepting them, users can now recode and remap an invoice during matching confirmation.


Availability

The feature requires the setup of AI matching. The orders for which invoices require matching confirmation need a particular profile, which is set up by default and can be amended.




Multiple PO flip to Invoice


Functionality

When sellers flip Purchase Orders to invoices, users can select multiple orders and create a single invoice from selected order lines.

When the user selects the documents to flip, the system will check:

  • Order type - only POs are selected
  • Currency - same currency on all the orders
  • Sender - all the orders are with the same customer and the customer has allowed single invoices for multiple orders

If a seller can proceed with the multiple orders selected, then the display will show all the order lines across the multiple orders with the outstanding quantities and amounts. Users can use a toggle to display the billed items with the unbilled items in the display.

When the user creates the single invoice, they can update individual order lines to fully or partially invoice the items. Each item in the invoice displays the order reference with the associated PO number and order line number.


Availability

The feature requires configuration to enable the feature flag for a company.  For more information, please engage with your service delivery manager



Seller Configurator App - reuse invoice numbers in different years


Functionality

The Seller Configurator app is available in the navigation panel and enables sellers to configure their account. As new configuration options are added, sellers will be able to find all the settings in one place, using the app.

In this release, sellers can activate the setting to re-use invoice numbers and credit note numbers in different years. The setting can be made based on calendar or fiscal year. If the user selects fiscal year, then they need to specify a starting month (1-12). The month will begin the 1st of the month.

The new setting means that sellers don’t have to change their ERP number range setup. This improves the seller experience and reduces the number of invoices failing the duplicate check during digital validation.


Availability

Available in the App store. No additional configuration required.


Coding Editor


Functionality

The Coding Editor simplifies coding when it has to be done manually and for a large number of invoice lines.

AP may get non-PO invoices that require split coding to multiple coding entries that likely vary from time to time. It could be operating expenses that need to be allocated across many departments, or facility expenses that need to be split across many locations. Ada may not be able predict the coding as the distribution varies, and manual entry can be time consuming. Manual coding is now made simple as you can copy and paste the data directly into the coding editor from the external source creating a much faster and user friendly coding process.

The coding editor allows users to code invoices directly in the coding editor table grid or copy coding data from a spreadsheet and paste it to the table grid. When the user applies the coding data from the coding editor to the invoice, the data is validated before applied to the invoice, combining the flexibility of the spreadsheet for coding tasks with an extra validation on the Tradeshift platform to remove potential errors. If an error occurs and the data require corrections, the coding editor will highlight the cells that require changes, and it will display details on the type of error, at the top of the table.

In this release, the Coding Editor is out of Beta.


Availability

The feature requires configuration. For more information, please engage with your service delivery manager.



Partial invoicing in PO flip


Functionality

This new feature will help sellers performing partial invoicing for PO lines to accurately invoice their customers over time. When flipping an order to an invoice, the system takes into account what has already been invoiced and displays the remaining quantities per line.


Availability

The feature requires configuration (i.e.: the buyer allowing multiple PO flip).  For more information, please engage with your service delivery manager



Customize the Line View in the Invoice


Functionality

Some of the line item elements of the invoice are hidden to make invoice documents easier to read. However, users can customize the view to show all:

  • Coding
  • Details
  • Matching

The setting will then show the details in the invoice viewer by default when opening an invoice. Users can choose whether they prefer the cleaner look or view the details using this setting.

For instance, when Ada suggests coding, the user can easily review the suggestion without having to click into the coding to see the results.


Availability

Available by default.



Usability improvements - edit and remove line splits in coding


Functionality

New icons in coding make it more intuitive for the users to edit and remove line splits in coding


Availability

Available by default.



Tradeshift Engage


Payment Proof in Document Manager


Functionality

Sellers who send invoices and credit notes in Tradeshift can get the payment references for a document in Document Manager. The user can add a column to their view that has a quick link to the Remittance Advice. The linked information will improve invoice reconciliation and payment tracking for the seller, and reduce the number of payment status inquiries.


Availability

Available by default.



Profile Subscriptions


Functionality

Companies can keep on top of critical profile changes to mitigate fraudulent activity, prevent accidental changes, and ensure compliance by subscribing to changes in critical company profile fields. Changes to critical company profile fields such as company name or Tax Identifier can have legal consequences for a buyer.

By subscribing to critical company profile fields, customers are immediately notified when those fields are changed by their sellers. Optionally, customers can choose to break the network connection automatically to prevent future transactions, and then reconnected when the changes are verified.


Availability

The feature requires configuration - activation via API.  For more information, please engage with your service delivery manager




Purchase Order data in Engage


Functionality

Uploads from buyers (Buyer-managed uploads) now include Purchase Orders as a new document type to provide sellers with the more complete picture of their historical data that will reduce seller inquiries.


Availability

Available by default, as part of uploads in Engage.  For more information, please engage with your service delivery manager.


Token Acceptance - onboard sellers to multiple buyers at once


Functionality

Sellers can easily connect to all their customers on the network. When sellers create their accounts, sellers will be prompted to accept any outstanding onboarding requests. The platform matches the new company (seller) with any outstanding onboarding requests from one or more of their customers. Sellers can then connect to multiple buyers at once to quickly start working with their customers on the network.


Availability

Available by default.



PDF Connector (Babelway App)


Functionality

Pre-built templates in the free Babelway app help standardize, simplify, and speed up integration automation. The connector helps define standard content, such as the common fields of an invoice, and prompts a user for customizable parameters, like an email address associated with PDF intake. This approach enables users to get document integrations automated much faster. The PDF Connector transforms PDF into a simple XML file that can then be integrated into Tradeshift. The xml is already mapped to Tradeshift Universal Business Language (TSUBL), removing a layer of complexity from the user.


Availability

The Babelway app is available in the App Store. Some configuration required. For details, contact your service delivery manager.



PEPPOL Connector (Babelway App)


Functionality

A connection between PEPPOL and the buyer’s Tradeshift account can easily be established with the free Babelway app. A ready-to-go PEPPOL connector utilizes CloudScan VAN to validate documents in the business firewall. Thus, a quick implementation and the digital validation leads to higher quality invoices in a shorter amount of time. The connector enables standardization and true interoperability with other service providers.


Availability

The Babelway app is available in the App Store. Some configuration required. For details, contact your service delivery manager.



Tradeshift Buy


Buyer Marketplace Manager (Enhanced) - Filter the list of Offers on Seller


Functionality

The list of offers in Buyer Marketplace Manager (BMM) can become very extensive. In Buyer Marketplace Manager, users now have an option to filter the list on Seller. Users can now review the status of several offers, and process all offers specifically from the selected seller.


Availability

Available by default.



Filter Views and Collection on Offer Level


Functionality

View Manager and Shop Manager have been enhanced so that users can create filters down to offer level. After selecting the Seller, the user can choose to include all or only selected offers from this Seller.

A Seller can have several offers to a buyer and may create offers based on categories or specific purposes. The buyer can now quickly and easily create a view filter or collection based on the offer without having to set up tags and categories.


Availability

Available by default.



Mandatory and Optional Bundles


Functionality

Sellers can now configure mandatory and optional bundles for buyers to make purchases of related products or necessary components. The bundle consists of one master item, and then one or more mandatory or optional sub items. In Shop, the sub items are displayed on the master item details page.


Availability

Available by default.



Request for Quotation


Functionality

A professional buyer/requester can create and send a request for quotation (RFQ) to get price and availability from the seller on request. RFQ also supports tactical sourcing processes (aka “three bids and a buy”) that companies may require for some products and categories.


Availability

Available by default.



Configurable procurement assistance flow for Quote


Functionality

Processing quotes may require Procurement to review or validate the quotation or simply requestors need Procurement’s help. Buyer admins can configure the procurement assistance flow for quote items as mandatory, optional or not available.

Procurement assistance enables a collaborative process and enforces any customer internal rules requiring Procurement to review and validate quotes.


Availability

Available by default.



Written Request with Product ID


Functionality

Product ID/SKU is an easy identifier for sellers to recognize ordered products or services and quickly process purchase orders. Product IDs also improve order accuracy for better downstream processing. Requestors can now enter the product ID when creating a written request item.


Availability

Available by default.



Tradeshift Apps


New Navigation (Preview)


Functionality

First of many changes to the user navigation area. In this release:

  • There will be fewer apps by default in the navigation area. Navigation can be customized:
    • to the user role so that people only see what they need
    • per branch
    • per user

  • Simplified wording
  • App descriptions are shown in the extended menu
  • A Messages app replaces the Inbox to better relate to the objects in the app


Availability

This preview is optional and it can be configured at branch/user level. 



Tradeshift Cash


Cash Seller Dashboard (Enhanced)


Functionality

The Tradeshift Cash Seller Dashboard provides a consolidated program view where sellers can easily monitor their program. The seller will use the dashboard to see the status of invoices, payments, deductions, credit notes, and short payments. As the central location where they monitor the program, sellers can now check on an invoice or payment status, thereby reducing buyer service requests.


Availability

Available by default.



Self Service Enrollment Flow


Functionality

Tradeshift Cash incentivizes sellers to more effectively adopt buyer AP digitization initiatives. Unlike traditional buyer-driven programs, Tradeshift Cash is managed by sellers. Once enrolled, they can begin to receive faster payments on qualified invoices.

Now, sellers can enroll in Tradeshift Cash even faster. In this release, the new enrollment feature enables small and mid-sized sellers to self-enroll. While larger value sellers enroll in Tradeshift Cash through a sales-assisted process, small and mid-sized sellers can now enroll themselves. With the addition of the self-enrollment functionality, all sellers can get quick, frictionless access to affordable funds while buyers enjoy accelerated digitization rates and working capital benefits.

  • Small and mid-sized sellers can quickly enroll in as little as one day
  • Enroll all sellers in your supply chain to get them the cash they need
  • Scales the number of suppliers working digitally with you


Availability

Available by default.