The e-invoicing and trading network, Tradeshift, has added connections to the Kashflow and Sage small business accounting systems via its Tradeshift Apps package, expanding its reach in the UK as it seeks to attract corporate treasurers, financiers, factoring firms and other players in the financial supply chain to its network.
Users of the Kashflow and Sage accounting software can now directly share and manage invoices via Tradeshift Apps. According to the firm such software is one of the most powerful tools available to modern businesses, but typically operates in a series of islands. Users crunch the numbers in their accounting system and then rely on email for the next step, of getting paid. The new set-up eliminates this need. Once activated, a business can manage the process of getting paid by partners as if it were a natural extension of the system.
That means corporations can know when their invoices have been accepted and paid, or can even discuss important details in a comments thread linked directly to the document, potentially easing the process, making it more efficient and aiding straight through processing (STP). The full invoicing situation can be quickly assessed via a simple news stream.
Tradeshift signed a deal with Intuit last month to form the world’s biggest e-invoicing network. While this latest link-up is relatively minor in comparison it does show the e-invoicing and trading network’s continued ambition to attract volume to its platform.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
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