Kompany and Tradeshift have partnered to provide Tradeshift’s global customers with the tools and authoritative company data needed to reduce the time and costs associated with supplier verification. This will allow for up to 90% reduction in total cost and risk exposure compared to traditional services.
As part of the cooperation, kompany will enable the Tradeshift platform via an app with real-time access to worldwide official commercial register data through its BREX (Business Register Exchange). “kompany and BREX will add tremendous value to trading partners on the Tradeshift platform with information to help them reduce fraud risk, collection costs, and third party risks,” said Lars Krüger, Director Alliance Management, EMEA Tradeshift.
In the future, kompany will also involve a company blockchain to offer one-stop-access to all available official information and documents on a company and its officers, including the identification and visualization of interconnections with other companies and beneficial owners worldwide. “Going forward, we are not only looking to provide a valid and completer picture of a company, but also want to harmonize the current jungle of company identifiers such as LEI, EUID, REID, DUNS®, Bloomberg Global ID/FIGI, Thompson Reuters PermID, EIN, VAT numbers etc.” said Russel Perry, CEO and Co-Founder, kompany.
About kompany and BREX:
kompany® provides real-time access to structured, official and authoritative commercial register data, including company filings covering more than 55 million companies in 80 jurisdictions. It also offers an Enterprise RESTful API called BREX.io to power third party business applications. kompany was founded in 2012 and is headquartered in Vienna, Austria. It has raised US$ 5 million in seed and angel funding. An experienced team of multi-national industry professionals develop and grow the platform and business. The founders and the start-up team worked together in several companies in Europe, South Africa and the USA during the past 15+years and have a successful track record in the mobile and digital media industry.
About Tradeshift: Tradeshift is a global network and platform that connects buyers and suppliers. Tradeshift transforms the way companies, pay and work with suppliers. They connect 800,000 users across 190 countries and are headquartered in San Francisco with offices in Copenhagen, New York, London, Paris, Suzhou, Tokyo and Munich.
Source: 360kompany GMBH – a member of BIIA