Adding the C2FO App to the Tradeshift Platform Will Provide More Suppliers Access to the World’s Largest Working Capital Market
SAN FRANCISCO/KANSAS CITY – June 30, 2015 – Tradeshift, the fastest growing supplier collaboration platform, today announced a global partnership with C2FO, the largest market for working capital, to expand dynamic discounting solutions to a broader network of suppliers and buyers. The partnership will provide more suppliers access to the C2FO working capital market to improve cash flow and allow more buyers to increase EBIT by paying their suppliers early.
According to The Hackett Group Senior Manager Derrick Steiner, “Collaborative marketplaces that enable faster invoice processing and higher supplier participation can significantly simplify the process of dynamic discounting and help companies drive real working capital improvements.”
Tradeshift and C2FO both enter into this partnership sharing a similar view that suppliers are strategic partners and that it is essential for buyers to help improve the financial health of their supplier chain. Buying organisations using Tradeshift will gain unprecedented access to C2FO’s working capital optimisation tools to help their suppliers accelerate payments.
“C2FO exists to provide much-needed working capital to suppliers, at a rate cheaper than any other source of capital. In just five years, our marketplace has delivered more than $15 billion in working capital and over 100 million days of accelerated payment to companies across the globe,” said Kevin Daniels, Chief Product Officer at C2FO. “Tradeshift shares our belief in helping supply chains flourish, so we are excited to form such an aligned partnership that combines two world-leading technologies into one offering.”
Suppliers that use the C2FO app on the Tradeshift platform will have access to more affordable working capital and take advantage of the competitive suite of Tradeshift and C2FO collaboration tools in one place. Buyers using Tradeshift will also witness an immediate growth in early payment demand by syncing their suppliers with C2FO. At scale, the increased collaboration can help solve the global problem of delayed payments and working capital accessibility within the supply chain.
“We’re committed to continually extend value to businesses at Tradeshift through an open and collaborative app platform, and the partnership with C2FO speaks to that,” said Rinus Strydom, VP Alliances & Solutions Consulting. “This partnership provides Tradeshift’s ecosystem with the tools to optimise customers’ working capital easier and faster than ever.”
Learn more about the partnership on Tradeshift.com.
About Tradeshift – Tradeshift is a global supplier collaboration platform that connects buyers, suppliers, and all their processes. Tradeshift helps businesses of every size to run more efficiently, using cloud technology to improve processes like AP automation, procurement, supplier management and working capital optimisation. Businesses rely on Tradeshift to transform and digitise their supply chain relationships and processes. Tradeshift’s open platform enables third parties to build business apps, which let businesses respond to their growing business needs, now and in the future.
Launched in 2010, Tradeshift connects 500,000 companies across 190 countries. Customers include Archer Daniels Midland, Air France-KLM, CBRE, DHL, the National Health Service (NHS) and Vestas. Tradeshift was awarded The Circular’s “Digital Disruptor” award and “Best Enterprise” at The TechCrunch Europas. TechCrunch has also recognised Tradeshift for “Kicking Ass Globally”. Tradeshift is headquartered in San Francisco with offices in Copenhagen, London, Paris, Munich, Suzhou and Tokyo.
C2FO is the world’s market for working capital® and risk-free profit. C2FO is the largest working capital exchange in the world and enables companies to Name your rate™ for working capital in a live marketplace. Companies across the globe use C2FO to increase their operating income while simultaneously producing vital working capital flows to their supply chains. C2FO is a leader in retail, industrial, manufacturing, energy, healthcare, technology, telecom and transportation sectors. C2FO is Collaborative Cash Flow Optimization.