Hello from Davos, Switzerland where the World Economic Forum is currently underway. I couldn’t be more excited to share the news that Tradeshift has won The Circulars’ Digital Disruptor award – beating out some very strong competitors, including Lyft.
The Circulars is an annual event recognizing individuals and enterprises from commerce, civil society and academia that have made a notable contribution to driving circular economy principles. It is also an initiative of the World Economic Forum Young Global Leaders whose vision is to create a socially and environmentally prosperous world where profitable businesses provide smart goods and services within the resource limits of the planet.
We were nominated last autumn, and that alone was an honor in itself. View our nomination video below:
The circular economy is an alternative to the traditional linear economy. It decouples corporate growth from the use of scarce resources, allowing economic development within the limits of natural resources. It empowers companies to innovate their processes and systems, and enables customers to adopt sustainable products and services.
There are strong signs that the circular economy is going to have an impact within business. Organizations like McKinsey, Ellen MacArthur Foundation, and an array of large companies like Accenture and Philips support the idea. Companies on the forefront of this wave can unleash innovations such as new product-to-service approaches, new materials recovery methods, and smarter projections and preparedness for future costs such as waste disposal or raw materials prices.
Tradeshift is helping the world move toward a circular economy by:
- Offering the world’s first cloud-based, free network for companies to connect and do business, eliminating paper completely from the supply chain.
- Providing an open, global platform for everyone to access and innovate on top of the supply chain data, enabling companies to experiment and be flexible in how they configure their supply chain processes, easing the transition to circular supply chains.
- Freeing up resources and accelerating access to capital for suppliers by enabling earlier payment of invoices through innovative funding programs through our platform and partners such as Citibank.
Together, these three elements can help enable circular supply chains as we remove some of the major but often overlooked barriers for companies to embark on circular supply chain programs, while giving them the data to quantify positive results.
We are moving away from the idea of zero-sum business deals toward a future of value based business partnerships where everyone can win. We lower the environmental impact of supply chains, while lowering the cost of the large buyers, enabling suppliers to grow quickly and hire more people as they gain access earlier access to capital. We call this the value based supply chain.
Tradeshift is creating a foundational change in how business is done which will impact the core of global business processes for years to come. We have done this by delivering a better model for the supply chain to our customers, enabling them to switch from a cost-based to a value-based supply chain focus.