Tradeshift,
the fastest growing business transaction and collaboration platform,
today announced that Fortune 50 company Archer
Daniels Midland Company (NYSE: ADM) will shift to a global
e-invoicing model using the Tradeshift cloud-based business platform.
The Tradeshift platform will provide an open and fluid environment to
transact over 2.5 million invoices annually between ADM and its global
supplier network.
The Tradeshift platform will initially be deployed across ADM’s Accounts
Payable in North America. It will then be expanded globally to create a
collaborative workflow between ADM and its thousands of suppliers. ADM
Suppliers click here for more info.
“ADM connects crops to markets in more than 140 countries on six
continents. To do that, we process more than 2.5 million invoices a
year. Transaction efficiency is fundamental to our business, and we
needed to find a vendor with a global footprint to establish a single
system throughout our company,” said Suzanne Leopoldi-Nichols, director,
ADM’s shared services group. “The Tradeshift platform will allow us to
innovate and improve collaboration and transaction efficiency across our
global supplier network without disrupting our existing infrastructure.”
The Tradeshift collaborative workflow automates many of the repetitive
administratively intensive aspects of invoicing and transactions. It
allows buyer and suppliers to communicate in real time to resolve
questions, exceptions or disputes before they enter an ERP system. This
approach reduces the cost of supply chain management and reduces
friction by enabling transparency, productivity, and simplicity.
Said Christian Lanng, CEO of Tradeshift, “The addition of ADM to the
Tradeshift business platform is a huge endorsement that our vision and
strategy to end the cycle of inefficiency and frustration at the point
of transaction and replace it with collaboration creates additional
value for the entire supply chain and is transformational to global
business efficiency.”
About ADM
For more than a century, the people of Archer Daniels Midland Company
(NYSE: ADM) have transformed crops into products that serve vital needs.
Today, 31,000 ADM employees around the globe convert oilseeds, corn,
wheat and cocoa into products for food, animal feed, industrial and
energy uses. With more than 270 processing plants, 470 crop procurement
facilities, and the world’s premier crop transportation network, ADM
helps connect the harvest to the home in more than 140 countries. For
more information about ADM and its products, visit www.adm.com.
About Tradeshift
Imagine a place where all companies, big and small, come together to
work, collaborate and transact. Now stop imagining and start
participating. Tradeshift is the single, shared and open platform
connecting buyers and suppliers easily and without limitation. Launched
in 2010, Tradeshift connects 500,000 companies across 190 countries,
with over ten thousand more joining every month. Businesses on the
platform include DHL, the National Health Service (NHS), French
Government, CBRE and Vestas Wind Systems. 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 is a global business, headquartered in San
Francisco with offices in Copenhagen, London, Suzhou and Tokyo. Find out
more at http://tradeshift.com
Copyright Business Wire 2014