tradeshift.com Open in urlscan Pro
45.60.45.78  Public Scan

Form analysis
1 forms found in the DOM

GET https://tradeshift.com/

<form role="search" method="get" id="searchform" class="searchform" action="https://tradeshift.com/" data-gtm-vis-polling-id9074240_39="44">
  <div>
    <label for="s" class="screen-reader-text">Search for:</label>
    <input type="search" id="s" name="s" value="">
    <button type="submit" id="searchsubmit">Submit</button>
  </div>
</form>

Text Content

 * Search
   * Search
     Search for: Submit
 * en
   *  * English
 * Contact Sales: +1 (800) 381-3585
 * Contact
 * Login
   * Login
   * Tradeshift Platform
   * Tradeshift Go

 * Solutions
   * Column 1
     * Solutions
     * By Business Need
       * B2B Marketplaces
       * AP Automation
       * E-Invoicing
       * French e-Invoicing Mandate
       * E-Invoicing Compliance
     * By Industry
       * Transportation & Logistics
       * Retail
       * Manufacturing
   * Column 2
     * Products
     * Marketplace
       * B2B Marketplace Platform for E-Procurement
     * AP Automation
       * PayAP Automation, Supplier Onboarding & e-Invoicing
     * Finance Solutions
       * CashSupplier Financing
       * GoVirtual Credit Cards
   * Column 3
     * Partners
     * Professional Services
     * Supplier Onboarding Training Supplier-Onboarding-Training-Icon
   * Column 4
     
     * AP benchmarks are vital to your organization
       
       Watch our Webinar
 * Resources
   * Column 1
     * Resources
       * Global Trade Index Report
       * Blog
       * Events & Webinars
       * Customer Stories
       * Global E-Invoicing Compliance Map
         Global-E-Invoicing-Compliance-Map-Icon
   * Column 2
     * Trending Topics
       * French e-Invoicing Mandate
       * How to Prepare for the French e-Invoicing Mandate
       * The Ultimate Guide to e-Invoicing and Supplier Engagement
       * Accounts Payable Metrics that Matter in 2023: Ardent Partners Report
       * B2B Marketplace White Paper
   * Column 3
     * Learn More
 * Company
   * Column 1
     * Company
       * About Tradeshift
       * Why Tradeshift
       * Sustainability
       * Press Room
       * Careers
       * Contact Us
   * Column 2
     * Why Tradeshift
 * Support
   * Column 1
     * Support
       * Integrate
       * Submit a Request
       * Developer Center
       * Knowledge Base
   * Column 2
     * Most Viewed Questions
       * Getting Started with TS
       * Documents Uploader
       * Sent an Invoice by Mistake
       * Add More Users to My TS account?
       * Contact TS Support
   * Column 3
     * Contact Support
 * Request demo

Tradeshift-Logomark
 * Solutions
   * < Back
   * Column 1
     * Solutions
     * By Business Need
       * B2B Marketplaces
       * AP Automation
       * E-Invoicing
       * French e-Invoicing Mandate
       * E-Invoicing Compliance
     * By Industry
       * Transportation & Logistics
       * Retail
       * Manufacturing
   * Column 2
     * Products
     * Marketplace
       * B2B Marketplace Platform for E-Procurement
     * AP Automation
       * PayAP Automation, Supplier Onboarding & e-Invoicing
     * Finance Solutions
       * CashSupplier Financing
       * GoVirtual Credit Cards
   * Column 3
     * Partners
     * Professional Services
     * Supplier Onboarding Training Supplier-Onboarding-Training-Icon
   * Column 4
     
     * AP benchmarks are vital to your organization
       
       Watch our Webinar
 * Resources
   * < Back
   * Column 1
     * Resources
       * Global Trade Index Report
       * Blog
       * Events & Webinars
       * Customer Stories
       * Global E-Invoicing Compliance Map
         Global-E-Invoicing-Compliance-Map-Icon
   * Column 2
     * Trending Topics
       * French e-Invoicing Mandate
       * How to Prepare for the French e-Invoicing Mandate
       * The Ultimate Guide to e-Invoicing and Supplier Engagement
       * Accounts Payable Metrics that Matter in 2023: Ardent Partners Report
       * B2B Marketplace White Paper
   * Column 3
     * Learn More
 * Company
   * < Back
   * Column 1
     * Company
       * About Tradeshift
       * Why Tradeshift
       * Sustainability
       * Press Room
       * Careers
       * Contact Us
   * Column 2
     * Why Tradeshift
 * Support
   * < Back
   * Column 1
     * Support
       * Integrate
       * Submit a Request
       * Developer Center
       * Knowledge Base
   * Column 2
     * Most Viewed Questions
       * Getting Started with TS
       * Documents Uploader
       * Sent an Invoice by Mistake
       * Add More Users to My TS account?
       * Contact TS Support
   * Column 3
     * Contact Support
 * Request demo

< Back to Resources


AP Automation



WHY YOU NEED TO CREATE A STRATEGIC ACCOUNTS PAYABLE FUNCTION




MAY 10, 2023

LinkedInTwitterFacebook

 


KEY TAKEAWAYS, AT A GLANCE:

 

 1. 1. 88% of “Best In Class” AP departments are using e-invoicing to generate
       huge time-savings related to error-fixing and responding to supplier
       inquiries.
    2. Strategic AP teams are using time savings from automation to focus on
       adding value to the wider business in areas such as improved capital
       management and supply chain visibility.
    3. With the right automated accounts payable platform in place,
       organizations can easily transition from tactical to strategic AP.
    4. Tradeshift’s technology facilitates a digital workflow across orders,
       invoices, conversations, and payments, with AI providing automated
       support.

 

If you’re wondering what separates a strategic accounts payable team from a
tactical one, then start by taking a look around you. If you see a mound of
paper on your desk, then it’s very likely that your department is tactical. If,
on the other, your desk and the desks of colleagues are clear (and stay that way
through the month), then you’ve already taken the first vital step in taking
your department to the next level to become more strategic.

 

 



 


STILL NEED CONVINCING?

Then take a look at the findings from Ardent Partners’ AP Metrics that Matter
report, which found that 88% of “Best in Class” AP teams have made the switch to
an e-invoicing platform, and they’re reaping the benefits.

 



Ardent’s report shows that “Best In Class” AP departments spend less than half
the amount of time fixing errors and fielding calls from suppliers wondering
about the status of their invoices. They’re also processing invoices more than
80% faster, with far fewer manual interventions.

 

Around a quarter (22.5%) of AP staff time is taken up handling supplier
inquiries – approximately 9 hours out of a standard work week.

 



No doubt about it, when it comes to the kind of manual tasks that have long been
the preserve of tactical AP departments, automation is better, faster, cheaper,
and more accurate than any human being. And it’s only going to get better.

 



 

The percentage of executives that say that Accounts Payable is exceptionally or
very valuable has changed dramatically over the past six years, more than
doubling from 32% in 2017 to 66% in 2023.

If data entry is what gets you and your team up in the morning then this might
be a little scary. But if you’re willing to view this as an opportunity to
reimagine the scope of your role across more value-driven lines, then AP
automation is a gift. Your route to becoming a strategic AP function revolves
around how you plan to use that gift.

 


WHAT DOES A STRATEGIC AP DEPARTMENT LOOK LIKE?

We see a lot of RFPs from AP departments solely looking to generate cost
savings, often through a reduction in headcount. This isn’t necessarily wrong,
but it is a missed opportunity. Reducing headcount is a one-time benefit that
pales in comparison to the value obtained through elevating AP’s mission. A
business case built purely around cost-savings is an admission that your
department views itself as a cost center rather than a potential value center
capable of actively contributing to the wider strategic goals across your
business.

A strategic AP department is far more likely to build their business case for AP
automation around the additional value they can offer to the business as a
result of the efficiencies they gain from the technology itself. Areas these
teams are likely to focus on from the outset include:

 

 * * New strategies for working capital management
   * Enhanced approaches to fraud mitigation and compliance
   * Increased supply chain visibility and collaboration
   * Proactive, data-driven insight to support financial planning

 

 



Strategic AP teams strive to break down silos, creating a more collaborative
process with cross-functional engagement. By utilizing data and intelligence,
they proactively engage with sellers and foster positive relationships.

 


HOW TRADESHIFT HELPS YOUR AP DEPARTMENT TO BECOME MORE STRATEGIC

Becoming a strategic AP function isn’t something that happens overnight. With
the support of a strong digital platform and a connected network, the transition
from tactical to strategic can be done more easily. That’s where Tradeshift
comes in.

The Tradeshift network facilitates a fully digital approach to AP. We make
digital the default for the orders, e-invoices, conversations, and other
transactions that occur between you and your sellers. And, with access to early
payment options, you can work to get paid faster and more reliably, helping you
maintain a steady cash flow.

 



Using Tradeshift Pay, your organization can embrace a digital-first approach by
implementing artificial intelligence to help create an efficient payables
process. You can quickly and easily adjust the level of involvement our AI has
in your process, allowing unbridled customization and tiered implementation.

We’re so passionate about that this issue that we partnered with the Institute
of Financial Management IOFM to explore the benefits of a true automated AP
processing solution — one that should manage your processing tasks by handling
all the repetitive, manual work and free up your team to build relationships and
create value.

The road to embracing strategic AP doesn’t need to be a long and challenging
one. With the right support system and the right tools in place, you can shift
your organization from a tactical approach to a more insightful, effective, and
strategic one.


LEARN MORE ABOUT TRADESHIFT’S B2B
E-COMMERCE MARKETPLACE

Talk to us

#SHIFTHAPPENS

 * Solutions
   * Source-to-Pay
   * B2B Marketplaces
   * E Procurement
   * AP Automation
   * E-Invoicing
   * e-Invoicing Compliance
   * Enterprise spend management
   * Supply Chain Finance
   * Supplier Relationship Management
   * Financing Receivables With Accounts Receivable Factoring
   * Digital supply chain management
 * Products
   * B2B Marketplace Platform
   * Pay: AP Automation
   * Cash: Supplier Financing
   * Go: Corporate Virtual Credit Cards
   * Partner with Tradeshift
   * Ask about Professional Services
 * Resources
   * Global Trade Index Report
   * Blog
   * Events & Webinars
   * Customer Stories
 * Company
   * About Tradeshift
   * Why Tradeshift
   * Sustainable supply chain
   * Press
   * Careers
   * Contact Us
 * Support
   * Integrate
   * Submit a request
   * Developer Center
   * Knowledge Base

Facebook Twitter LinkedIn

LANGUAGE


 * English

 * Tradeshift Privacy Policies
 * Terms of service
 * Terms of use
 * Communication preferences
 * Cookie policy

© 2023 Tradeshift Holdings, Inc. or a Tradeshift affiliate company. Site by Red
Branch Media, Inc.


THIS SITE USES COOKIES

We and our partners use technology such as cookies on our site to personalize
content and ads, provide social media features, and analyze our traffic. Click
below to consent to the use of this technology across the web. Additionally,
several cookies are necessary for this site's operation. These include load
balancing and support for features that allow downloading content. Read More >

Accept All Decline Cookie Settings
Close
 * About Cookies
   
   
   ABOUT COOKIES
   
   Tradeshift uses cookies to deliver website functionality and enhance your
   experience. For example, cookies allow us to provide you with a secure
   log-in, collect statistics that help us optimize speed and performance, and
   deliver content and marketing that is customized to your interests. The
   performance and customization that Tradeshift can provide you is determined
   in part by the level of cookie use that you accept
 * Necessary
   
   
   NECESSARY
   
   Always Active
   Necessary cookies help make a website usable by enabling basic functions like
   page navigation and access to secure areas of the website. The website cannot
   function properly without these cookies.
   
 * Marketing
   
   
   MARKETING
   
   Marketing
   Marketing cookies are used to track visitors across websites. The intention
   is to display ads that are relevant and engaging for the individual user and
   thereby more valuable for publishers and third party advertisers.
   
 * Analytics
   
   
   ANALYTICS
   
   Analytics
   Analytics cookies help website owners to understand how visitors interact
   with websites by collecting and reporting information anonymously.
   
 * Preferences
   
   
   PREFERENCES
   
   Preferences
   Preference cookies enable a website to remember information that changes the
   way the website behaves or looks, like your preferred language or the region
   that you are in.
   
 * Unclassified
   
   
   UNCLASSIFIED
   
   Unclassified
   Unclassified cookies are cookies that we are in the process of classifying,
   together with the providers of individual cookies.
   

Save And Accept
✓
Thanks for sharing!
AddToAny
More…

AddToAny
More…