Wipro Limited (NYSE:WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company today announced a strategic partnership with Tradeshift, the fastest growing business commerce platform, to offer cloud-based Source-to-Pay (S2P) Business Process as a Service (BPaaS) solution.
The partnership aims to help customers accelerate digitalization and automation in their procurement, finance and accounting functions. Headquartered in San Francisco, Tradeshift offers a business commerce platform to digitally connect companies through cloud-based, collaborative accounts payable and procurement automation.
The agreement combines the capabilities of Tradeshift’s platform with Wipro’s integrated S2P services. Wipro’s S2P solutions enable enterprises to achieve efficiencies across the procurement value chain. By adding Tradeshift’s capabilities in product database, e-invoicing, procurement automation, mobility-enabled access, and global supplier risk management, Wipro will be able to standardize and continually expand its business process as a service (BPaaS) offerings. In turn, businesses can automate processes, connect stakeholders and help customers collect and analyse data around all of their transactions, covering invoices, purchase orders and payments.
“Our partnership with Wipro will enable customers to easily capitalize on the value of the Tradeshift business commerce platform and the innovative solutions we can bring to the market together,” said Christian Lanng, CEO and Co-founder of Tradeshift. “Wipro’s global scale and procurement services expertise will amplify the benefits gained from an agile supply chain enabled by a single, digital connection between customers and their entire supply bases, including both process efficiencies and process transformation. We are very pleased to note that this partnership has already delivered two new joint enterprise clients.”
Nagendra P Bandaru, Senior Vice President and Global Head, Business Process Services, Wipro Limited said, “With transformation as the prime objective, enterprises are ready to adopt the next generation of process automation services, accelerating the digitization of business processes. Joining forces with an innovative company such as Tradeshift will provide our customers access to their global, cloud-based supply chain platform. Our combined BPaaS utility will allow customers to automate their supply chains and will usher in greater accuracy and superior efficiencies at a remarkable pace.”
Along with the partnership agreement, Wipro Ventures, the strategic investment arm of Wipro Limited, has made an investment in Tradeshift to strengthen the partnership and further develop Tradeshift’s innovative applications, trade financing solutions, platform and business-to-business marketplace ecosystem.
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