Tradeshift Acquires IBX to Enhance Global Source-to-Pay
Earlier this month, Tradeshift announced the acquisition of Capgemini’s IBX Business Network. According to the press release, this merger will enable Tradeshift’s business commerce platform to see an increase in transacted value to more than half a trillion dollars over the next 12 months, which includes recent growth in China and other new markets. The Tradeshift marketplace will add over half a million suppliers and 27 million stock-keeping units (SKUs).
This acquisition puts Tradeshift ahead of the game in addressing some of the key challenges PayStream has recognized for organizations transacting with overseas suppliers. A truly global business network will enable companies to more easily validate and onboard suppliers while maintaining compliance with complex regulations. Engaging with a high-risk supplier can have dangerous consequences for organizations, but managing supplier validation and compliance processes effectively demands excessive time and resources. A robust global marketplace like the one created through this collaboration allow for more opportunity for organizations to transact internationally while keeping costs low. IBX brings additional modules including e-sourcing, spend analysis, and supplier portal capabilities to the partnership.
“As the creators of one of the largest European B2B networks, IBX is one of the most experienced source-to-procure teams, and the combination of their ingenuity and experience with Tradeshift technology is a winning strategy,” said Christian Lanng, Co-founder and CEO of Tradeshift.
The acquisition is expected to close in April 2017.Rate this Post: