HSBC and Tradeshift, a business commerce platform, have announced a strategic partnership that will enable companies to manage their global supply chains and working capital requirements from one online platform, from any device.
HSBC and Tradeshift are developing an integrated proposition that will allow buyers to automate and digitize paper-heavy supply chain processes from all their suppliers and organize supply chain financing all in one place. This solution will combine the benefits of electronic ordering and invoices, document matching and early payment capabilities.
For customers, adopting electronic invoicing could lead to considerable cost savings. The innovative solution will dramatically improve transparency and visibility and will allow buyers and suppliers to collaborate in real-time. Suppliers will also benefit from best in class on-boarding and quicker invoice processing times.
HSBC and Tradeshift’s integrated solution will be available to clients from July 2017. HSBC intends to expand the range of working capital solutions available via the platform in 2018.