Wipro invests in B2B commerce platform Tradeshift

Wipro Ventures, the investment arm of Wipro, has made an investment in Tradeshift, a B2B commerce platform, to develop applications and trade financing solutions.

Wipro, a leading IT services company from India, 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.

Tradeshift connects 800,000 companies across 190 countries and is headquartered in San Francisco, with offices in New York, Copenhagen, London, Paris, Suzhou, Tokyo, Munich, and Sydney.

The agreement between Wipro and Tradeshift aims to help customers accelerate digitalization and automation in their procurement, finance and accounting functions. Tradeshift offers business commerce platform to digitally connect companies through cloud-based, collaborative accounts payable and procurement automation.

Wipro will add Tradeshift’s capabilities in product database, e-invoicing, procurement automation, mobility-enabled access, and supplier risk management to expand its business process as a service (BPaaS) offerings.

The Bangalore-based Wipro in a statement said that business clients 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.

“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,” said Nagendra P Bandaru, global head, Business Process Services, Wipro.

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