The tool allows suppliers to add and manage their catalogs, and for employees to meet their purchasing needs while following procurement policies. According to Tradeshift, the integrated offering addresses issues of traditional e-procurement systems, including poor usability, limited product content and the difficulties of bringing more spend under management. Tradeshift Buy offers a virtual store spanning all supplier and product categories, including services. It frees employees to buy from any online source while remaining compliant. And it integrates a full procure-to-pay system using third-party and Tradeshift applications. In another company announcement, Tradeshift has entered into a global partnership with Selectica, a global provider of procurement and sourcing applications. To be made available on the Tradeshift platform, the technology integration makes Selectica's SmartSource strategic sourcing capabilities, such as RFX, bidding, reverse auctions and contract awarding, available to Tradeshift's network of suppliers and buyers. According to the companies, adding the "plug-in" sourcing capability to the platform will enable buying organizations to more holistically manage and connect the sourcing process to the downstream procure-to-pay process.
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