Tradeshift, the leading B2B commerce platform, has unveiled a new AI-based smart interface branded as “Ada” to help businesses buy, pay and collaborate with new automation features. Tradeshift Ada is one of world’s first AI-based B2B collaboration tool that allows everyone in the procurement platform, including third-party app developers, to participate. The latest AI collaboration feature comes within a month of Tradeshift acquiring IBX Business Network to create world’s largest business commerce platform.
Earlier in 2016, Tradeshift introduced a virtual assistant – Tradeshift Go, for payments. Ada by Tradeshift is a step ahead of the virtual assistant, adding AI capabilities for every user, anytime, without questions.
Thijs Stalenhoef, SVP of Enterprise Products at Tradeshift says,“Rapid innovation is at the heart of everything we do at Tradeshift. First an idea hatched at one of our hackathons, Tradeshift Ada is a next-generation technology using capabilities such as machine learning (ML) and natural language processing (NLP). It’s the foundational layer for bringing AI into our platform everywhere. Currently, Tradeshift Ada integrates with Tradeshift Go, Tradeshift Buy, Business Analytics, and externally to Slack. This enables users to gain insight, complete tasks more easily and save more money every day.”
How Tradeshift Ada Adds Power to B2B Commerce Platform
In his blog, Christian Lanng, Co-Founder and CEO of Tradeshift explains –
“Ada assists our users by responding to information requests and by providing contextual suggestions at the point of task across the platform and even beyond, such as the popular collaboration tool, Slack. That means instant response to any requests related to transactions, procurement, spend, payments, etc. It connects the dots between data sources, workflows, and patterns.”
By deploying Tradeshift Ada, B2B marketers can generate instant response to any requests related to procurement, spend, payments and other transactions. Langg adds, “Ada can “listen in” to your online conversations and clue in on keywords and unobtrusively suggest an app, such as for order collaboration or supply chain financing when you happen to mention them in a context.”
Apart from deriving quick insights about users and companies, B2B marketers can fully or partly (depending on their requirements) automate their tasks, and link any workflow decision in Slack for further collaboration.
New CMO at Tradeshift Drives the Zeal for Innovation
Less than a fortnight ago, Tradeshift significantly expanded their leadership team by hiring former SAP executive David Ahrens as the Chief Marketing Officer. Ahrens resumed functional responsibility for all digital, product and brand initiatives, along with traditional demand generation activities aimed at engaging organizations running the world’s largest enterprise supply chains.
Tradeshift scooped an undisclosed amount in January 2017 from Wipro Ventures. In July 2016, the SF-based B2B commerce platform raised $75 million Series D from seven investors. So far, the company has raised $182 million in six rounds of funding rounds. Tradeshift is expected to accelerate its product innovation efforts towards bringing more ROI-specific value to B2B commerce from an automation angle.