Tradeshift’s Magellan 7: what you need to know
Tradeshift’s latest release, Magellan 7, goes even further to help you connect your supply chain processes and organizations in the cloud. It gives you more tools to turn long-siloed departments like accounts payable, procurement, and treasury, into a connected collaborative network for streamlined AP automation and standout working capital management returns.
With Magellan 7, it’s easier than ever to make digital the default and realize the future of finance.
Hyper-efficient AP Automation: now with AI
Our new invoice design makes it easier for you to work with and collaborate on invoices. The interface is more transparent, collaborative, and mobile friendly. And our built in artificial intelligence, Tradeshift Ada, helps you code invoices faster than ever. Finally, we make it easy to move your workflows into Tradeshift with an extensible workflow.
- New Invoice App — A simpler interface that is more transparent, collaborative, and mobile.
- Ada-Assisted Coding — Easier for the user, improved accuracy, and more time to make the best use of cash.
- New Interface — View and flip advance shipping notices to get shipment status updates and flip into goods receipt or invoice.
- Up-to-date E-Invoicing Compliance — E-invoicing in Italy with clearance by the tax authorities becomes mandatory on January 1, 2019. You’re already ready to go with Tradeshift.
- Analyze Invoice Cycle Time — Measure and continuously improve invoice cycle time to uncover more opportunities to improve working capital.
- Extensible Workflow — Lower the hurdle to convert from legacy workflows to Tradeshift by re-using logic and approval tables.
Business your way: your trade, your platform
Our new platform enhancements let you do business your way. Magellan 7 continues to enable custom and differentiated processes on the Tradeshift platform with new extensibility points.
- Have your own workflow? With more extensibility points, you can reduce the hurdle to convert current workflows to Tradeshift.
- Have your own external system? Connect your collaboration messages to your preferred external. Network the right stakeholders and the right solutions with the right information.
Marketplace: take advantage of a collaborative network that goes beyond content
Now, with marketplace management, procurement and suppliers can easily build their content through active collaboration. That means more automation, reduced exceptions, and better insights. An Improved upstream process makes your whole end-to-end process more efficient. Magellan 7 enables:
- Keywords — Whether you’re a supplier or buyer, you can use keywords to find the right products and services on our active seller marketplace.
- Apps — Use Tradeshift Apps or third-party apps to address category- and industry-specific processes on our app platform, including our own AI-enabled blanket order app for value-based spending or long-running orders.
Magellan 7 enables companies to solve their network challenges across their global supply chain and supply chain organizations. Collaborate as a connected network (AP, treasury, procurement, suppliers, and end users) for hyper-efficient AP automation and big returns from working capital management. Start building your network and make digital the default, starting with Payments 2.0 and Marketplaces.
It’s never been easier to accelerate trade. Magellan 7 provides a simpler interface that is more transparent, collaborative, and mobile, with built-in artificial intelligence that helps all users enable faster and more collaborative trade. Visit Tradeshift to find out more.