Tradeshift is included in two recently published Gartner reports focused on procurement and sourcing technologies: Hype Cycle for Procurement and Sourcing, 2015 and IT Market Clock for Procurement and Sourcing, 2015.
We’re extremely pleased to be mentioned as a sample vendor in six major categories: Multienterprise Grid Functionality; B2B Networks; All-In-One Supply Collaboration Platforms; Dynamic Discounting; E-invoicing; and Procurement Networks. While all are important, the first one deserves special attention.
Multienterprise grid functionality may be a mouthful, but it has the potential to be a technology well worth learning to say three times fast. According to Gartner, it has transformational benefits to a business – not a characterization casually thrown around. And it’s among other next generation capabilities, identified by Tradeshift.
But what is it? Let’s start by examining Gartner’s definition:
Multienterprise grid functionality is a feature of third-party-owned business process networks (BPNs). Specifically, it is the unique set of capabilities that emerge when all BPN customers — buyers, suppliers and partners — agree, on a permission basis, to share specific, common content in a many-to-many fashion.
According to Gartner, multienterprise grid functionality is transformational because it lowers costs across an entire ecosystem of trading partners, instead of transferring costs from buyer to supplier (think supplier fees). I would add multienterprise grid functionality offers a much more balanced approach, providing value to both buyer and supplier. This is starkly different from traditional “supplier networks” or “supplier portals” that remain largely focused on the buyer.
Additionally, Gartner notes that perhaps even more valuable is the data that flows across the grid and the intelligence and trends that can be gathered by accessing it. Here’s what to look for when considering such grids:
- The ability for suppliers to upload content (supplier master data, product information, certifications and more) once and have it applied to all relevant buyers on a permission basis
- An existing community of trading partners to plug in to
- Ongoing business and technical support for suppliers
Again, we are all truly pleased to be included, especially in categories that align strongly with what the Tradeshift vision has been all about from the very beginning.
The reports – relevant to procurement, supply chain and IT leaders alike – highlight multiple categories of technologies, define them, talk about their market adoption and business impact, as well as provide insights into the different stages of the technologies’ market life.