24 August 2017
visit www.avoka.com

Danish start-up Tradeshift launches e-invoicing platform

10 May 2010  |  10715 views  |  0 Outsourcing Strategies

Danish firm Tradeshift is launching an international e-invoicing platform designed to disrupt traditional international payment mechanisms by offering fee-free transactions over an open-standards and Internet-based smart supply chain network.

Founded by three Danes with a background in creating large-scale government and European level invoicing systems, the start-up also numbers Morten Lund from Skype and Jon Bosak of XML fame among its board members.

The Tradeshift platform promises to steal a march on bank and credit card-based payment systems by offering free, legally-binding transactions to small businesses worldwide. The system is launching in Denmark this week with the UK, Germany and a number of Bric economies to follow over the coming months.

Recent research by Deutsche Bank indicates that e-finance is less popular among small firms. The shortfall is most evident when it comes to more advanced features of e-finance, with only 21% of SMEs sending or receiving electronic invoices and barely 29% using automated data exchange for sending payment instructions to financial institutions.

The European Commission has estimated that every year handling, transporting and creating paper invoices cost government and companies more than €64 billion.

Tradeshift plans to offer e-invoicing as a free lure to small businesses and charge a flat rate subscription for larger enterprises and governments, who will additionally be able to access smart applications for exchange rate monitoring and dynamic supply chain management.

The Tradeshift platform is 100% standards compliant with new EU regulations, says Tradeshift CEO, Christian Lanng, and offers interfaces to existing legacy transaction networks including EDI and major ERP systems including SAP and Oracle eBusiness Suite.

"I believe that modern business software has grown too complex and difficult to use for most businesses," he says. "Our goal was to create something extremely simple, that allows all small businesses to replace their paper processes with electronic ones."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Deutsche partners Inttra for container shipping e-invoicing service

Deutsche partners Inttra for container shipping e-invoicing service

07 April 2009  |  5542 views  |  0 comments
EC rule changes to give boost to e-invoicing

EC rule changes to give boost to e-invoicing

29 January 2009  |  8726 views  |  0 comments
Swift set for greater involvement in e-invoicing

Swift set for greater involvement in e-invoicing

28 November 2008  |  16040 views  |  0 comments
ING takes full control of e-invoicing firm Billington

ING takes full control of e-invoicing firm Billington

12 November 2008  |  6855 views  |  0 comments
Equens partners ICBPI and Isabel on European e-invoicing pilot

Equens partners ICBPI and Isabel on European e-invoicing pilot

16 September 2008  |  9684 views  |  0 comments
Royal Bank of Scotland selects Accountis for e-invoicing

Royal Bank of Scotland selects Accountis for e-invoicing

17 June 2008  |  11213 views  |  0 comments
Nordea recruits TietoEnator to supply B2B e-invoicing system

Nordea recruits TietoEnator to supply B2B e-invoicing system

24 September 2007  |  7394 views  |  0 comments
E-invoicing network to save EUR243 billion in EU supply chain costs

E-invoicing network to save EUR243 billion in EU supply chain costs

30 August 2007  |  7730 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.dorsum.euvisit www.worldpaymentsreport.comvisit www.vasco.com

Top topics

Most viewed Most shared
Rabobank constructs physical model to understand IT architectureRabobank constructs physical model to unde...
20765 views comments | 43 tweets | 86 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
12016 views comments | 22 tweets | 35 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
11324 views comments | 21 tweets | 35 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
11154 views comments | 10 tweets | 8 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
10848 views 0 | 7 tweets | 1 linkedin