We’re excited to announce that we’ve been included in The Forrester Wave™: eProcurement, Q2 2017 as a Strong Performer! We believe that this recognition is further validation that our innovative approach is breaking through traditional models, and industry analysts are taking note as procurement leaders across the globe increasingly inquire about Tradeshift Procure-to-Pay capabilities. Our platform-based strategy is singular and specific. Forrester, one of the world’s most influential research and advisory firms, notes in the report:
“Tradeshift intends to disrupt the eProcurement market, aided by its IBX acquisition”
The report includes 12 vendors that were selected after Forrester assessed an initial list of 28 candidates. The final dozen was chosen based on a combination of the following: annual revenue, revenue growth, innovation, and client reach (Forrester “also considered whether the vendor would be relevant to a large section of [their] client base”). The analysts then used these criteria to determine the placement of each vendor on the Wave:
“Its innovation record and ambition make it worthy of consideration by AD&D [application development and delivery] leaders who like modern, disruptive vendors”
According to Forrester, eProcurement is at the “heart of enterprise commerce,” which echoes our mission to simplify tools and make it easier for trading partners to engage in digital business commerce for buyers, its employees, and suppliers. The recent acquisition of IBX Business Network combined with the Tradeshift platform strategy and the specific capabilities of Tradeshift Buy are the three pieces that are driving the growth of our network and paving the way for us to accomplish that mission, and we believe that they have earned us a strong position in the report:
“Tradeshift has grown its supplier network business rapidly over the last few years, and about 18 months ago it started to build an innovative eProcurement application. Boosted by the IBX deal, it now has one of the largest customer bases and can offer a comprehensive S2C suite in addition to the new eProcurement application. Tradeshift’s origins as a low-cost invoice network show through in its excellent support for supplier enablement and invoice capture.”
Moreover, eProcurement evaluators aiming to fold in marketplace capabilities to improve both the buying experience and supplier relations should consider our strengths:
“It uses a marketplace approach, giving shoppers more choice because they can see all connected suppliers’ products. This also gives suppliers the chance to win new customers, which may make Tradeshift a good option for AD&D [application development and delivery] leaders who worry about supplier engagement and want a mutually beneficial community rather than a network of reluctant suppliers.”
We believe there’s plenty of room for innovation in the B2B e-commerce space as global organizations turn their efforts to implementing digital solutions based on the simplicity demonstrated by online B2C commerce. Tradeshift delivers this, and then some. We help companies capture more spend under management, drive efficiencies, improve innovation and collaboration and allow users to successfully work together to serve business goals and bring Commerce For All.
The Forrester Wave™ is copyrighted by Forrester Research, Inc. Forrester and Forrester Wave are trademarks of Forrester Research, Inc. The Forrester Wave is a graphical representation of Forrester’s call on a market and is plotted using a detailed spreadsheet with exposed scores, weightings, and comments. Forrester does not endorse any vendor, product, or service depicted in the Forrester Wave. Information is based on best available resources. Opinions reflect judgment at the time and are subject to change.
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