Wipro teams with Tradeshift for source-to-pay processes
India’s IT giant Wipro has teamed with and invested in supply chain finance platform Tradeshift to offer a cloud-based source-to-pay (S2P) business-process-as-a-service (BPaaS) solution.
The partnership will provide digitalisation and automation in procurement, finance and accounting functions; and combines Tradeshift’s platform with Wipro’s integrated S2P services. Along with the partnership Wipro Ventures, the strategic investment arm of Wipro, has made an unspecified investment in Tradeshift.
Christian Lanng, CEO and co-founder of Tradeshift, says the “partnership has already delivered two new joint enterprise clients”.
Wipro says by adding Tradeshift’s capabilities in product database, e-invoicing, procurement automation, mobility-enabled access, and global supplier risk management, it will be able to standardise and “continually expand” its BPaaS offerings.
Wipro recently acquired InfoServer, a provider of custom application development and software deployment services to banks, financial institutions and insurance companies in Brazil. It paid BRL 27.6 million ($8.7 million) for the deal.
Last year, San Francisco-based Tradeshift attracted investment from Santander InnoVentures and completed its series D finding round, which raised $75 million from new and existing investors, such as HSBC and American Express Ventures.