Tradeshift, the leader in supply chain payments and marketplaces, has been selected by Axfood to bring digital transformation to its procure-to-pay processes. By choosing Tradeshift, the 48 billion SEK grocery company plans to collaborate with its suppliers more effectively, increase innovation and drive efficiency.
Axfood was established in 2000 and is the second largest player in the Swedish food retail market with a roughly 20 percent market share. With Tradeshift Buy and Pay, Axfood plans to solve problems with complex processes and a lack of transparency and traceability with its suppliers and purchases.
Axfood selected Tradeshift for the intuitive interface and functionalities of its solution, its experience in the Swedish market, and the trust and transparency that Tradeshift established with Axfood throughout the engagement.
Tradeshift will be used to digitize and simplify Axfood's entire payments process including engagement with its suppliers. Tradeshift delivers Axfood a modern, easy-to-use interface, industry-leading supplier onboarding practices, end-to-end supply chain payment functionalities and an innovative marketplace that supports retail companies with franchises. With Tradeshift, Axfood plans to ensure that all suppliers in scope will benefit from a simple and easy-to-use solution.
"This project gives us an end-to-end solution for managing our process on a customizable marketplace, including all our supplier relationships," said Annika Åberg, project owner at Axfood. "Tradeshift enables us to digitize the entire process with a modern, easy-to-use solution for our users and suppliers, thereby improving collaboration, efficiency, and overall process metrics."
"Axfood's decision to use Tradeshift solutions signals a fundamental shift in the way the company wants to work with its suppliers, by providing a simpler and more streamlined, digital-first approach to business-to-business buying and payments," said Christian Lanng, CEO and co-founder of Tradeshift. "We are excited to be a part of Axfood's quest for an efficient and collaborative supply chain."
Tradeshift drives supply chain innovation for the digitally connected economy. As the leader in supply chain payments and marketplaces, the company helps buyers and suppliers digitize all their trade transactions, collaborate on every process, and connect with any supply chain app. More than 1.5 million companies across 190 countries trust Tradeshift to process over half a trillion USD in transaction value, making it the largest global business network for buying and selling. Discover commerce for all at tradeshift.com
Axfood aspires to be the leader in good and sustainable food. Our family of companies includes the store chains Willys and Hemköp as well as Tempo, Handlar'n and Direkten. B2B sales are handled through Axfood Snabbgross, and our support company Dagab is responsible for the Group's product development, purchasing and logistics. The Axfood family also includes Mat.se, Middagsfrid and Urban Deli as well as the partly owned companies Apohem and Eurocash. Together the Group has more than 10,000 employees and sales of nearly SEK 50 bn. Axfood has been listed on Nasdaq Stockholm since 1997, and the principal owner is Axel Johnson AB. Read more at www.axfood.se