Tuesday 17th October 2017,
Payables Place

P2P Tech Round-Up – February 10, 2017

P2P Tech Round-Up – February 10, 2017

Publisher’s Note: Last call to get our latest P2P research study available here (registration required).

NvoicePay and Mastercard Integration will Speed Up Supplier Payments Process

In January, Nvoicepay, the accounts payable automation software company for domestic and international b2b payments, recently announced that it will integrate Mastercard’s inControl for Commercial Payments as a way for businesses to speed up and simplify supplier payments for their customers. The inControl for Commercial Payments platform was created by Mastercard as a way to help businesses streamline the important details regarding how and when card payments can be made. With more and more businesses realizing that automation is essential for large-scale operations to work efficiently, this integration will go a long way in supporting both Nvoicepay’s and Mastercard’s efforts to promote payment automation through the utilization of virtual cards for supplier payments.

And now, three news items about Tradeshift…

Tradeshift announces presence in China with Two New Joint Ventures

In December, Tradeshift, the cloud-based business network announced two new joint ventures in China that will increase the digital network of millions of trading partners in China and digitalize the transactions between them. As China looks to modernize their technology, these joint ventures offer a digital framework for connectivity and collaboration. When we heard Tradeshift CEO, Christian Lanng speak back in June, he mentioned that China was going to be an important market for buyers and sellers across the globe. The XunLian Tradeshift joint venture will provide supply-chain financing to some of the largest state and privately owned enterprises in China, including new customers, Zongshen and Automobile Motorcycle Exchange. The San Francisco based Tradeshift will be able to provide these customers an electronic infrastructure for trading and other financial services. The 85-person Baiwang Tradeshift joint venture already serves more than 100 customers, from large insurance, banking, and hospitality industries. This joint venture is one of only two companies in China authorized to implement and market e-invoicing solutions for VAT (value-added taxes) compliance, which the government recently implemented for all service-based industries.

Wipro Limited and Tradeshift Partner to Help Customers Accelerate Automation

On January 30, Wipro Limited, the information technology, consulting and business process services company, and Tradeshift, the cloud-based business network, announced a new strategic partnership that will offer their customers a way to accelerate the digitalization and automation of their procurement and finance functions. Wipro Limited is a leading global information technology and business process services company that provides Source-to-Pay solutions. Tradeshift, the San Francisco based flexible business commerce platform allows companies to tailor solutions to meet their needs. This partnership will combine Tradeshift’s platform with Wipro’s integrated services will allow customers to automate their supply chain platform with greater accuracy and efficiencies.

Biz2Credit Partners with Tradeshift, Expanding Access to Capital 

On February 9, Biz2Credit, an all-in-one solution for small business financing, and Tradeshift, the cloud-based business network, announced a brand new partnership. Companies that use Tradeshift will be able to access Biz2Credit’s business lending marketplace, via a new platform app. Suppliers will now be able to apply for financing without leaving the Tradeshift platform, with delivery of funds expected within 48 hours. Since its founding in 2007, Biz2Credit has arranged more than $1.6 billion in business financing for small and mid-sized companies and is recognized for its credit resource for working capital, commercial real estate and other funding options in the U.S.

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