Digital transformation company Genpact and supply chain payments provider Tradeshift have entered into a partnership to help businesses boost their Accounts Payable (AP) and procurement processes and achieve digital transformation more quickly.
The highly manual and fragmented processes within Procure-to-Pay (P2P), which links procurement and AP operations, traditionally involve lengthy cycle times and plenty of resource.
Using Genpact’s expertise in Artificial Intelligence (AI), machine learning and Robotic Process Automation (RPA), and Tradeshift’s business-to-business network technology, organizations will be able to re-imagine P2P.
Through the partnership, companies will be able to link their AP and procurement to a global network of buyers and sellers. Enterprises can digitize supplier and trade processes and accelerate innovation with apps.
They can strengthen invoicing infrastructure, improve cash optimization, and harness data more efficiently which will help driving scale, agility, and better decision making through insights-to-action analytics.
Katie Stein, Chief Strategy Officer and Global Business Leader of Enterprise Services at Genpact, said: “Finance organizations often face challenges with P2P operations in viewing and analyzing data quickly across disconnected supplier systems, limiting the added value they could provide to respond more effectively to market demands.”
Rinus Strydom, Chief Commercial Officer at Tradeshift, said: “Genpact is a leader in finance and accounting, with decades of experience running operations for numerous Fortune 500 companies. Its deep process and domain expertise, coupled with its strength in analytics and artificial intelligence, will enable Tradeshift to scale its services faster to jointly help our clients speed up their digital transformation.”
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