Tradeshift selects TrustWeaver as strategic partner to enhance e-invoicing compliance
Stockholm, 1st February 2017
Tradeshift, the world’s largest business commerce company, today announced a new global strategic partnership with TrustWeaver to extend compliance requirements for electronic invoices processed through the Tradeshift platform. Tradeshift e-invoices comply with local requirements for integrity, authenticity, and real-time tax administration controls in roughly 60 countries worldwide.
Through a seamless, cloud-based integration solution developed by TrustWeaver, a Sweden-based provider of global Value-Added-Tax (VAT) compliance services, Tradeshift guarantees a larger spectrum of its customers’ electronic invoices subjected to VAT requirements meet compliance regulations. Under the terms of this partnership agreement, TrustWeaver is responsible for upholding compliance even as the complex technical and process requirements in supported countries change or evolve.
According to Nav Kalra, Tradeshift’s VP of Global Services and Success, governments have increased focus on technology-based controls for closing the so-called ‘VAT gap’.
“Tax administrations increasingly require companies to send invoice data for inspection in real time as transactions are taking place, rather than auditing transaction evidence after the fact or much later,” said Kalra. “We continually join forces with strategic partners like TrustWeaver to provide leading solutions that facilitate compliant, seamless e-invoicing for our customers,” said Kalra. “TrustWeaver’s service is uniquely optimized to do a lot of heavy compliance lifting especially in France adding a new level of transparency to every Tradeshift invoice,” he added.
Christiaan van der Valk, President of TrustWeaver, said: “The Tradeshift and TrustWeaver teams have collaborated very successfully in the past year to bring Tradeshift customers into a number of complex regions. This broader strategic agreement allows us to accelerate compliance coverage of many more countries and processes. Ultimately, it’s the enterprises leveraging the Tradeshift platform that will benefit as they can stop worrying about ever-changing e-invoicing requirements.”
Founded in 2010, Tradeshift is the world’s largest business commerce platform that connects buyers and sellers. Tradeshift connects over 1.5 million companies across 190 countries, is on track to process over half a trillion USD in transaction value, and has a marketplace containing 28 million SKUs. It offers solutions for procure to pay, supplier engagement and financial services, and enables companies and partners to build custom or commercial apps on its business commerce platform. Tradeshift is headquartered in San Francisco, with offices in Copenhagen, New York, London, Paris, Suzhou, Tokyo, Munich, Frankfurt, Sydney, Bucharest, Oslo, Stockholm, and Kuala Lumpur.
TrustWeaver provides a comprehensive cloud-based compliance service for electronic invoicing and other legally critical documents for more than 55 countries. From a single technical interface and through our unique Compliance Map ™ concept, more than 60 world-leading B2B integration brokerage vendors in our partner network automatically provide interoperable legal certainty to trading partners that use their solutions, regardless of changes in legislation. TrustWeaver’s unique blend of legal and technical components allows modern organisations to execute their ERP, workflow, archiving and B2B consolidation strategies with guaranteed adherence to the multiple national and sectoral laws governing such transactions, as well as their long-term retention and auditability. In business since 2001, TrustWeaver is headquartered in Stockholm, Sweden.