Tradeshift’s latest release, Magellan 8, gives you access to a host of significant updates across the platform. With the newest updates, you’ll have an enhanced, more intuitive experience to help you boost collaboration, invoice faster, and collaborate with anyone across our marketplace. Take a look at what’s new across the whole Tradeshift platform.
What’s new in Tradeshift Pay?
With every update, your invoicing process getting faster, easier, and more flexible. This time around, look forward to enhanced coding and adaptable financial approval.
- Enhanced invoice app: Ready to accelerate the invoicing process while boosting collaboration? Say hello to bulk line coding: now you can get all your similar items coded at once, including lines and charges. And we’ve made it easier for you to quickly find items that require your attention—they’re automatically highlighted with a clear message. That includes all lines coded by Ada, our built-in artificial intelligence. Every user, even the assignee, can also see delegations and escalations to give you full transparency, increase collaboration, and help speed up invoicing.
- Cost objective hierarchies: Get more flexibility to define your approval structure. If the first approver doesn’t have the right authority, the document gets forwarded automatically to the first approver in the hierarchy who has that authority to speed up the process.
- Enhanced invoice cycle time insights: Our last release introduced the invoice cycle time report, and with Magellan 8, we’ve gone even further. Get statistics from your CloudScan to help you analyze and optimize your invoicing and decrease invoice cycle time.
What’s new with Tradeshift Buy?
Global marketplace additions
Meet company objectives with any buying system by using our global marketplace to manage how users across your organization purchase items. And with marketplace manager, buyers work with engaged suppliers in real time to build the content you need for more automation, order accuracy, lower exception process rates, and gain better insights.
- Access more Tradeshift marketplace capabilities from any of your buying systems from anywhere in the world. That includes access to supplier offers, written requests coded by Ada (our built-in artificial intelligence), and collaboration with your procurement team via procurement assistance.
- Buyer marketplace manager
- Revamped user experience: We’ve enabled your category managers to work directly with their suppliers to accept, reject, or negotiate supplier offers, delivering up-to-date products, services, and pricing for your buying employees.
- Seller marketplace manager
- Make more informed decisions: Suppliers can now provide more information and attachments to help you identify the right products and services that meet your buying objectives, such as environmental, sustainability, or other responsible sourcing initiatives.
- Embedded forms in item details: Sellers can now collect additional product and service information from buyers using custom embedded forms.
And for those using Tradeshift Buy to create purchase requests, you can optimize your buying so that everyone in the organization has the power to buy what they need for any kind of spend across the entire Tradeshift network. New for this release:
- Purchase request description upgrades: In addition to using our smart features, you can now search purchase requests using your own custom descriptions and keywords. Quickly find and get the status, history, and follow-on activities for all those purchase requests without having to slog through pages of work.
- Goods marking/shipping address changes: Add additional instructions to your shipping addresses to make sure your deliveries make it to the right place, including routing at the delivery location.
- Cost object hierarchies: Get more flexible and comprehensive financial approvals so that the right person is approving with the right authority, including purchase requests that impact multiple cost objects.
What’s new with apps?
Magellan 8 helps you connect with the right stakeholders and systems so you can quickly complete collaborative processes.
- Ada collaboration: Ada, Tradeshift’s AI, can suggest the right contact to collaborate with based on the document you’re on. Need coding help? Ada will suggest a contact for you. Need a quick approval? She’ll provide you with an appropriate contact.
- Default collaboration: Need to get in touch with an external partner? Increase your response times by automatically connecting with the right people based on your seller relationship.
- Seamless SSO: Get all those task related emails done with seamless and secure login for Tradeshift users.
Magellan 8 furthers our aim to create a connected end-to-end supply chain organization. We’re dedicated to continually improve your buying and selling needs, from an outstanding user experience to greater value throughout your supply chain.
Visit tradeshift.com to find out more