Insights for Procure-to-Pay and Finance Leaders

Vestas is the latest Multi-billion Euro Global Manufacturer to join Tradeshift

We’re sorry for being coy. The truth is, when Tradeshift started working with yet another multi-billion Euro global manufacturer, we just couldn’t wait to spill a few beans.

But now we can reveal the full truth about the latest enterprise to embrace 100% electronic invoicing.

Vestas Wind Systems is the world’s largest manufacturer of wind turbines and having recently won the $1.5m Zayed Future Energy Prize, its products now generate enough electricity to provide for over 21m people in 70 countries and on six continents.

As you can imagine, that means they work with a lot of suppliers. Nearly 10,000 across the world in fact. And Tradeshift will now be providing the platform for its business interactions with those suppliers, supporting nearly 300,000 exchanged invoices a year.

Once more, it came down to business models. In our discussions with Vestas, the company realised an approach that required its suppliers to pay to start using the service would simply never get them the return on investment that would make it worthwhile.

Although Vestas is a company renowned for its ambitious innovation, 100% electronic invoicing is more basic than that as a concept. If you do it right, it just makes sense.

So, Vestas gets it. Kuehne+Nagel gets it. Every day we’re talking to new companies that really realise the difference our business model makes. If you want your suppliers to use a service with you that will save you money, you have to ask “what’s in it for them?”

If the answer to that question is “Tradeshift”, you might just make them very happy indeed.

If you’d like to learn more about how we’re working with Vestas or how we can help you, get in touch.