A particular application of a cloud platform is for sellers of parts and buyers of parts (B2B) to transaction much more easily (e-commerce). Reducing transaction cost has always been a harbinger of greater trade (much like reducing tax or barriers).
While Alibaba (NYSE:BABA) receives much credit for revolutionizing the B2B e-commerce world, connecting China manufactures with buyers around the planet - other smaller companies are also playing in adjacent space. One such example is Tradeshift.
Tradeshift has a cloud platform that allows for e-commerce documents to be shared easily between sellers and buyers. You might think "e-commerce document sharing" is boring, but anything that streamlines mundane transactions deserves a drink of coffee.
In the scenario below, you have a seller of tires "Parts Producer", and you have buyer of tires "Factory". In step 1, the Factory orders 100 tires. Step 2, the Parts Producer recognizes that Factory is a known customer with good credit and ships 100 tires. Step 3, Parts Producer sends an Invoice to Factory to pay up for the 100 tires. Step 4, Factory checks to make sure that the tires did arrive and wires funds to Part Producer.
Now, wouldn't be nice if all of this was automated - so that no paper needs to be shuffled around, found, updated, be kept consistent between Parts Producer and Factory (if the order changes, for example).
With Tradeshift, all this is automated!
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| Tradeshift has a platform (cloud software and database) and a network (buyers and sellers) so that a document tracking orders, shipment, invoice, and payment can be put in one place for all to see. Thanks cloud! |
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