August 10, 2011
If you’ve ever freelanced, you know that invoicing can be a dreaded chore. After finishing the work you were contracted to do, you have to create multiple invoices before actually getting paid. Tradeshift is taking the frustration out of invoicing and making sweeping changes in the e-payment arena.
Tradeshift allows everyone, from freelancers to large companies, to exchange invoices and connect to all their suppliers and customers. Calling itself the “social network for business,” Tradeshift is creating a global business network for online invoicing and other business transactions. Tradeshift connects businesses with suppliers and customers to save time and ensure they get paid at both ends of the supply chain. Besides invoicing, the company facilitates document trading, analytics, collaboration and more. Tradeshift users can comment on changes made to invoices, make payments, and activate additional features through apps, all in real time and for free.
Of course, in the payment industry, Paypal is still king. Paypal provided Tradeshift with seed funding, and it is currently one of the company’s technology partners. Paypal is a major player in the ushering in of a new era for money exchange. As Daniel Roth explained in a Wired article, Paypal opened up its code, allowing programmers of all levels access to its secret sauce of technology and payment industry knowledge. Thousands of developers have already used this access to bypass a tangle of regulatory and licensing bodies and are focusing on building applications instead. Now Tradeshift is benefiting from Paypal’s forward-thinking leadership on currency exchange, as well as from its expertise.
Tradeshift is disrupting the way money changes hands because rather than levy charges, as credit card companies and banks do, transactions with Tradeshift are free. And, the transactions still come with the security of being legally binding, so customers are really getting a lot here. Take a look at their website to see how Tradeshift can help you move money.
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