Tradeshift – the way it looks from the Intuit side of the fence

Tradeshift – the way it looks from the Intuit side of the fence

Posted by Pete Loughlin in AP Automation, Electronic Invoicing 05 Mar 2013

In the fast moving space that is e-invoicing, like many other areas of business, the impressive announcements of vendors can become tiresome. Claiming customers that everyone claims – promises of new approaches and ludicrous claims about the use of bleeding edge technology that turn out to be no more than smoke and mirrors. Tradeshift’s announcement of a partnership with Intuit was genuinely impressive but it’s not till you hear the other side of the story – the Intuit version of events – that you get to see what the true significance is.

I’m in New York at the Tradeshift analyst day, headlined Tradeshift – the Power of the Platform. There’s a good turnout here – Jason Busch and Henry Ijams and a pleasant surprise to see Susie West here too. The highlight was the presentation from Eric Dunn from Intuit on the Tradeshift partnership and it illuminated the detail of why this partnership is important. Eric explained that there were four key elements to their rationale for getting together with Tradeshift.

1. Compatible visions – the future isn’t paper based and neither does it have to be complex. Eliminating paper processes and simplifying business are core principles of both Tradeshift and Intuit.

2. Modernity -Tradeshift doesn’t have the disadvantage of archaic technological baggage. Their mobile centric and SOA based technical platform delivers a future proof design that is compatible with the Intuit vision.

3. Market traction – Tradeshift are winning business and they’re winning big customers. For all kinds of reasons, the client success stories don’t get into the public domain but get close to Tradeshift and their customers and the traction that they’ve developed in their short life is impressive.

4. Finally – the team. Tradeshift people are passionate and focused but their killer attribute is – they get it right. Intuit have seen it with their own eyes and, according to Dan, the faith they’ve put in Tradeshift is being validated again and again as they work together.

The Intuit deal marks a significant milestone in the Tradeshift story but it’s also a significant milestone for Intuit too. Business, for every business, is getting easier.

Pete Loughlin can be found on twitter @peteloughlin

  • john mardle March 6, 2013 at 10:31 am /

    Glad to note you are keeping such good company Peter and indeed this is a fascinating post. I cannot help wondering however whether the introduction of the 34 character IBAN code under the Single European Payments Area (SEPA) – being rolled out from February 2014 will assist or delay einvoicing especially if applied alongside a supply chain finance.dynamic discounting solution.

  • Thordur Erlingsson March 7, 2013 at 10:22 pm /

    Purchasing insight is a source of good insights in the industry once in a while, but it is of course and for obvious reasons, the voice of the sponsors most of the time. Any hope for an objective report in the near future?

  • Pete Loughlin March 8, 2013 at 1:54 am /

    Thordur, Purchasing Insight has never been and never will be the ‘voice’ of it’s sponsors. It’s true of course that there is a balance to be weighed between securing the support of sponsors, without whom Purchasing Insight could not exist, and reporting objectively but I maintain that we do a pretty good job of this. Indeed, while I was in New York, I had a long conversation with another very respected industry analyst about this very issue and they pointed out to me how objective and critical Purchasing Insight has remained despite this apparent dilemma.

    Christian Lanng, CEO of Tradeshift, is outspoken an opinionated. It’s part of his job. So am I and I’ve p****d him off more than once for writing things he strongly disagrees with.

    This article is not the article that Tradeshift would have had published. They’d have preferred (I think) to have seen some publicity about their growing client numbers and their new user interface, both of which topics I think, objectively, would be premature to report on. For me, hearing the thoughts of Intuit, a seasoned industry player, on why they chose to partner so closely with Tradeshift, was a validation of some of the claims that Tradeshift made about their partnership.

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