Overview

Tradeshift is very excited to announce our next major release, which will be generally available on March 2. This release will help you close the gap to exception-free AP and it makes buying easier for your users. Here are some of the highlights:

Tradeshift Pay

• Managing unplanned costs that are added to the invoice by the seller in addition to what was ordered usually results in manual exceptions. You can now automate handling of unplanned costs using Ada that will code the cost based on machine learning. Any unplanned costs exceeding your defined thresholds will be assigned to the right people for approval.
• Automatic order changes based on approved invoice discrepancies delivers a faster change order process and keeps the documents updated for faster posting.
• Invoice tax validation is critical for compliance and cost validation, but validating the tax manually is cumbersome. The new tax validation extensibility point enables you to leverage 3rd party tax engines to validate the tax on the invoice.

Tradeshift Buy

• Sellers can now create product variants. It helps requesters to find what they are looking for and enables them to configure it as they prefer.
• A new extensibility point enables you to get purchase requests approved or rejected by an external service, for instance to validate against available budget. This real-time, automated validation enables better compliance and control.

Tradeshift Apps

• When using the external collaboration panel, you can now quickly check the relationship profile of the trading partner you are having the conversation with. This enables you to access and manage all the data that facilitate the business between your companies.
• The new spend data report provides you with the data to analyze your spend down to item level. It enables you to group all spend by category, supplier or cost center. The spend data is based on all invoices received within the selected time period.

This document presents the main planned enhancements. Release notes will be available two weeks prior to the release with the final updates. You will find all the material about the new features in the Knowledge Base, on the Tradeshift support portal.

Note: Features and screenshots in this document describe the intended scope of the release and they are not a commitment. The scope of the release may be subject to change.

Tradeshift Pay

Unplanned Cost Handling

Functionality

Managing unplanned costs such as freight, packaging, extra fees, adjustments, services that are added to the invoice by the seller in addition to what was ordered usually results in manual exceptions. You can now automate handling of unplanned costs using Ada that will code to the cost based on machine learning. Any unplanned costs exceeding your defined thresholds will be assigned to the right people, that can code and approve it at the same time as handling other matching related exceptions resulting in fewer manual touches. Unplanned costs include header level charges and lines in a PO invoice that don’t relate to an order.

This feature enables a full touchless process of unplanned costs that are within acceptable thresholds and ensures these are coded so the invoices can be posted in the ERP.

Availability

Configuration required. Please engage with your service delivery manager for more information.

Order Line Remapping

Functionality

Reduce exceptions and increase straight-through processing with a next generation AI enhanced matching. Some invoices, such as invoices from other networks or scanning partners, are sometimes missing order line references. Using machine learning, incoming invoice lines are in such cases matched with order lines based on fields such as item description, seller’s item id, amount, quantity, and unit price.

In addition, you can now add order line references to invoice lines where Ada wasn’t confident in a mapping or change the existing line references made by the seller. This can also be used to create links to change orders for unplanned costs. Changing the line mapping will retrigger matching, and reevaluate the matching decision, and hence this can be used to resolve discrepancies.

Any changes made manually will also improve the machine learning algorithm. It will drive future automation, and remove the dependency on UBL references, limiting rework and reduce cost related to processing scanned invoices.

Availability

Configuration required. Please engage with your service delivery manager for more information.

Automatic Order Change for Approved Invoice Discrepancies

Functionality

Tradeshift Pay can now create automatic order change documents based on approved invoice discrepancies. Speed up invoice processing and keep documents up to date without having to worry about manual calculations, and potential multiple iterations of order change approval workflows. When enabled, Tradeshift Pay generates correctional order change documents to cover approved discrepancies in prices, amounts, quantities, currencies and added items. The automatically created order changes are marked as correctional to distinguish them from the manually created change orders.

Availability

Configuration required. Please engage with your service delivery manager for more information.

Tax Validation Extensibility Point

Functionality

Invoice tax validation is critical for compliance and cost validation. Sellers are typically expected to add tax on the invoice, but validating the tax manually is cumbersome. And once the invoice reaches the ERP for the payment, handling tax problems becomes complicated.

The new tax validation extensibility point enables you to leverage 3rd party tax engines to validate the tax on the invoice before the invoice proceeds for approval. Invoices failing tax validation will be assigned to a team to accommodate the tax validation failure process. They can reject the invoice and inform the seller regarding the issues or assign it for approval. Validating the tax on the invoice at the entry point will streamline your invoicing process.

Availability

Configuration required. Please engage with your service delivery manager for more information.

Enhanced Pre-Flow Extensibility

Functionality

Tradeshift’s extensible platform lets you customize and extend the power of Tradeshift Pay. It enables you to re-use existing business logic, and it gives you the freedom to create your own. With the pre-flow extensibility point you can set events based on the outcome of the ERP pre-posting, invoice enrichment and validation. The pre-flow extensibility is enabled after the invoice has been validated and before any workflow task has been assigned to a user. It can trigger events such as:

• Complete the workflow (without any additional actions)
• Accept the invoice, and then complete the workflow
• Proceed the workflow as configured
• Jump straight to approval

The last event, jump straight to approval, is new for this release and can be used for scenarios where the invoice is enriched with coding from the external source.

Availability

Configuration required. Please engage with your service delivery manager for more information.

Coding Editor (Beta)

Functionality

Sometimes you need to do complex account allocations to certain spend types based on spreadsheets or databases. It could be operating expenses that need to be allocated across many departments, or facility expenses that need to be split across many locations. This is now made simple as you can copy and paste the data directly into the coding editor from the external source creating a much faster and user-friendly coding process. When handling large invoices with a high number of lines or coding line splits, users can copy the coding from a spreadsheet to the coding editor and apply it to the invoice lines immediately. The coding editor also provides coding validation to ensure the coding is correct before it’s applied to the invoice.

Availability

Configuration required. As a beta feature, this feature is a preview and will become generally available in a later release. Please engage with your customer success manager for more information.

Extended Optional Invoice Fields

Functionality

The list of available optional invoice fields has been extended with the following fields; EAN/GTIN, ECCN, Country of origin, Incoterms, and buyer material number. Based on document firewall settings, sellers fill required fields while creating the invoices and credit notes. This enhancement enables you to capture the necessary information on the invoices and credit notes to optimize your invoice process and meet compliance requirements.

Availability

Configuration required. Please engage with your service delivery manager for more information.

Enhanced Copy Coding and Matching Reevaluation

Functionality

Benefit from real-time updates that makes collaboration easier. Users with matching tasks are now notified of changes and re-calculations when new documents arrive, and when the line relations are changed manually. Coding information is also automatically copied and tasks are rerouted when line relations are made.

Availability

Standard. The feature will be available for users.

Faster Connection of Sellers via CloudScan VAN

Functionality

When you receive documents from either a VAN or a scanning partner you will no longer have to do a first-time mapping for every seller connection. Instead you can let CloudScan VAN setup the seller connection automatically based on identifiers in the document. In addition, it’s now possible to process VAN documents without seller side enablement which will further speed up the process of connecting new sellers via VANs.

Availability

Configuration required. Please engage with your service delivery manager for more information.

Currency Conversion of Matching Tolerances

Functionality

You can now maintain absolute matching tolerances in your preferred currency and Pay will automatically convert it to the document currency using up to date conversion rates. This enables you to control absolute tolerances, but without having to maintain them in each and every currency.

Availability

Standard. The feature will be available for users.

Tradeshift Buy

Variants

Functionality

Many products are almost identical and differ only by one or a few product attributes. For example, a t-shirt may be available in different sizes and colors. Sellers can now group these items into a set of product variants. They will then appear in the Shop search result as one item. This will make it easier for requesters to find the items they are looking for as there are less items to scroll through. The requesters can select between the available variants on the product detail page. When selecting a preferred size and color, the image, the product information and the price will dynamically update based on the users’ selection.

Sellers can freely define up to three product attributes (e.g. color, size and material) that are used to group the products into a set of variants.

Availability

Standard. The feature will be available for users.

Customer Specific Taxonomy

Functionality

Requesters can now find what they are looking for by navigating and filtering by your company specific product category tree. By using your own company specific category tree, you can get the categories that best match your needs and processes.

When enabled, the requesters can search and find products by the custom category description, and the filtering on the left side of the search result displays the custom category description instead of the UNSPSC description.

Sellers still categorize their products with UNSPSC version 19.1 according to Tradeshift’s standard requirements. The UNSPSC product category is mapped to your custom category using a customer-maintained mapping table.

Availability

Configuration required. Please engage with your service delivery manager for more information.

View List of Removed Offer Items

Functionality

Sellers can remove items from their offers at any time. This could for instance be necessary as old items are replaced by newer items. The removed items are instantly hidden from the Shop, so that requesters cannot order items that are no longer available for sale. To provide control and transparency for the professional buyers, they will now receive notifications about removed offer items and be able to review the list of removed items in the Buyer Marketplace Manager.

Availability

Standard. The feature will be available for users.

Seller Blocking

Functionality

When you decide to discontinue the business relationship with any of your suppliers, you can now block this seller from receiving orders in addition to removing the seller’s offer from Buyer Marketplace Manager. By blocking the seller, you can ensure that no more orders are sent to this seller. It also removes the possibility to create written requests and blanket purchase orders for this seller. Any purchase requests already created that are awaiting approval and contain items for the blocked seller will automatically be rejected. Invoices can still be received from the blocked seller to be able to pay for any previous orders.

Availability

Standard. The feature will be available for users.

External Validation of the Purchase Request

Functionality

Tradeshift’s extensible platform lets you customize and extend the power of Tradeshift Buy. A new extensibility point enables you to get purchase requests approved or rejected by an external service. You can for instance use this extensibility point to validate the purchase requests against available budget. This real-time, automated validation of the purchase requests enables better compliance and control.

The extensibility is available at two points in the workflow. First point is after the purchase request has been submitted for approval, but before the approval happens. The second point is after the purchase request has been approved. This extensibility enables you to re-use existing business logic, and it gives you the freedom to create your own.

Availability

Configuration required. Please engage with your service delivery manager for more information.

Set Available Currencies per Seller

Functionality

To ensure that the currencies that the requesters use for written requests and blanket purchase orders are supported by the seller you can now maintain the list of supported currencies per seller as a connection property on the seller connection.

When requesters create written requests or blanket purchase orders, they can change the currency for the estimated price by selecting from the list of available currencies for the selected seller. If there is no such configuration then the buyer's default currency is used.

Availability

Configuration required. Please engage with your service delivery manager for more information.

Goods Receipt Numbering

Functionality

You can now define specific prefixes and starting numbers of the Goods Receipts created inside Tradeshift and Goods Receipt sent over API. This enables you to clearly distinguish between Goods Receipts created in Tradeshift and over API and ensures that there is no conflict in between these number series.

Availability

Configuration required. Please engage with your service delivery manager for more information.

Tradeshift Apps

Check Relationship Profile from Collaboration Panel

Functionality

When using the external collaboration panel you can now quickly check the relationship profile of the trading partner you are having the conversation with. This enables you to access and manage all the data that facilitate the business between your companies.

For instance, if you as a buyer have the external collaboration panel open an invoice, you can now check the relationship with the seller by clicking the seller’s company name. After checking and managing the relationship profile, you can directly go back to the collaboration panel by closing the relationship modal app.

This quick navigation makes it easier for users who use the collaboration panel and needs to access and manage the data about the other company. This feature is available for both buyers and sellers.

Availability

Standard. The feature will be available for users.

Schedule Recurring Email Reports on Behalf of Others

Functionality

Now you can schedule recurring reports from the Insight Center and get them sent to a colleague via email. The email will contain a link that enables the receiver to download the report without having to login. The link is valid for up to seven days after they receive the email.

This capability enables you to schedule reports for yourselves, along with other users within your company. It also enables you to send the report to a defined group.

Availability

Standard. The feature will be available for users.

New Report: Spend Analysis

Functionality

This report will provide you with the data to analyze your spend down to item level. It enables you to group all spend by category, supplier or cost center. The spend data is based on all invoices received within the selected time period.

As a seller, this report enables you to analyze your sales by customer account and category, and provides all the invoiced items.

The report is available for download in the Insight Center.

Availability

Standard. The feature will be available for users.

New Report: List of Activated and Deactivated Users

Functionality

This report will help you ensure that the proper people in your company have the appropriate access. The report will give you a list of activated and disabled user accounts within your organization. It shows their past and present access roles, and business properties like approval and spend limit.

Availability

Standard. The feature will be available for users.

Enhanced Report: CloudScan Documents

Functionality

This report will give you a list of all invoices and credit notes that have been received through CloudScan AP and CloudScan VAN. The report has been enhanced with more details about the sellers.

Availability

Standard. The feature will be available for users.