New app allows Tradeshift e-invoicing customers to analyse business relationships based on location data

London, UK – 12 June 2012 – Geosho Ltd, a location-based services provider, today announced the release of Cartobi, a spatial analysis application on Tradeshift, the online business network that simplifies and automates common tasks such as invoicing and supply chain finance. The application provides instant map visualisation and analysis tools allowing Tradeshift customers to segment buyers and suppliers based on their geographic location.

Using Cartobi, Tradeshift users can pinpoint the location of the companies they do business with and gain new insights through geographic analysis. For example, using the application, users can monitor invoice payment times by location and query sales totals by area, representing them individually or in clusters on a map. Users can also extract outstanding invoice data and prioritise certain transactions.

Tradeshift allows companies of all sizes to tap into the networked economy by making online connections and transactions fast, easy and efficient. Using Tradeshift, businesses can complete and automate simple tasks such as e-invoicing and supply chain finance. In addition, users can take advantage of a range of apps developed by Tradeshift and third parties to further improve the effectiveness and value of the network. Geosho is one of the first third party apps to go live on the network and is available immediately for all users, for free.

Paul Sandham, Managing Director of Geosho said: “We are seeing an ever increasing trend where businesses are able to make use of location data to inform the decisions they are making. In the world of finance, this is particularly applicable and so this relationship with Tradeshift makes perfect sense. We hope that Tradeshift customers will find new and exciting ways to use this data and location to improve their customer and partner relationships and discover new methods of delivering their business.”

Christian Lanng, CEO and cofounder of Tradeshift said: “Here at Tradeshift, we love to champion business innovation. We also believe that traditional business software is clunky and outdated. The Geosho app is a great example of how, by moving into the cloud on a modern, flexible network, Tradeshift users can get access to cutting edge technologies that allow them to do amazing things with the data they hold.”

Rob Carswell, Director of sustainability and energy consultants Energy Count and one of the first users of the Geosho spatial analysis app said “Tradeshift vastly simplifies our invoicing process and enables us to keep better track of monies outstanding. The Geosho app is an exciting extension to this as it shows data visually for even better invoice recognition and management.”

Dr John Mihell, Investment Executive at leading UK SME investor, Finance Wales said:

“Geosho’s spatial analysis app is one of it’s suite of exciting new location-based products.  Finance Wales backed the company in early 2011 with a £200,000 equity investment to develop and commercialise these products, so the Tradeshift tie-up is a major step forward.  Geosho is part of our growing portfolio of technology investments and we have high hopes for its future.”