TRADESHIFT and Intuit Partner to Create Large Global Network of Suppliers on One Platform
SAN FRANCISCO, CA, Jan 23, 2013 (MARKETWIRE via COMTEX) --
TRADESHIFT, a platform for all your business interactions, announced
a partnership with Intuit Inc., a leading provider of business and
financial management solutions for small and mid-sized businesses
The partnership includes a significant strategic investment from
Intuit into the San Francisco and Copenhagen based B2B platform
provider. The investment was made at an increased valuation relative
to TRADESHIFT's previous investment round, reflecting the growth and
progress the company has made over the past year.
The partnership marks a watershed moment for TRADESHIFT, a major
player in an industry striving to deliver large networks of connected
suppliers to enterprise customers. Intuit's SMBs customer base of 5
million US businesses, combined with TRADESHIFT's current network of
more than 150,000 SMBs, will together create one of the largest
networks of connected suppliers. The planned integration of Intuit's
accounting and payments products with TRADESHIFT'S electronic trading
network will streamline commerce between Intuit's large SMB customer
base and the participants on TRADESHIFT'S electronic trading network.
SMBs using QuickBooks will find it easier and less time consuming to
comply with their enterprise customers' e-invoicing mandates. Large
enterprises will find that more of their suppliers will be willing to
participate due to the reduced cost and friction enabled by the
"At TRADESHIFT we understand the future of business will rely upon
open connectivity between companies," said TRADESHIFT CEO Christian
Lanng. "At the heart of this understanding is realizing companies of
all sizes must be provided a level playing field where they have
access to the tools needed to operate efficiently and effectively in
a digital world."
"Partnering with Intuit will create one of the largest global
networks of suppliers the business world has ever witnessed and is an
enormous leap forward in achieving our goal of connecting every
company on the planet on one, shared, open network," Lanng continued.
"We chose to partner with TRADESHIFT because of the quality of their
software, the size and growth rate of their network, and their
demonstrated ability to work with some of the largest corporations in
the world," said Eric Dunn, senior vice president of Intuit's
Commerce Network Solutions group. "Connecting Intuit's small
businesses to enterprises via the TRADESHIFT network addresses a very
important pain point for many of our customers."
TRADESHIFT provides the platform for your business interactions,
connecting companies of all sizes to integrate any function from
invoicing to workflow with greater efficiency.
Launched in 2010, TRADESHIFT is used by over 150,000 companies across
190 countries. Businesses on the TRADESHIFT platform include the
National Health Service (NHS), French Government, Kuehne+Nagel, MITIE
TRADESHIFT was awarded Best Enterprise at The TechCrunch Europa
awards and Most Innovative Solution by Financial-I. TechCrunch also
recognized it for "Kicking Ass Globally."
TRADESHIFT Inc is a global business, headquartered in San Francisco
with offices in Copenhagen, London, Frankfurt and Amsterdam.
Find out more at http://tradeshift.com
Press & Interview Inquiries:
(415) 794 -5861
[ Back To Microsoft News 's Homepage ]