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TRADESHIFT Continues Interoperability Commitment by Joining OFS Portal Initiative

SAN FRANCISCO, CA--(Marketwire - Oct 2, 2012) - TRADESHIFT [tradeshift.com/enterprise], the fastest growing, global B2B network and the industry leader in supplier onboarding, today continues its commitment to open standards and supplier choice through a new interoperability agreement with OFS Portal, LLC -- a global member-based organization of upstream oil and gas suppliers and service providers.

OFS Portal was created to encourage open standards and promote interoperability for buyers and suppliers in the upstream oil and gas industry. OFS Portal's Members include many leading suppliers and service companies with a global spend of more than $100 Billion. The agreement enables OFS Portal Members to adopt TRADESHIFT as a platform for exchanging valuable data and transactions with the their oilfield customers through the use of open, non-proprietary standards. As a result, industry-players are able to adopt and benefit from latest technologies and services without being locked in to any one tool.

The initiative continues TRADESHIFT'S position at the forefront of global enterprise standards, including its role in PEPPOL, a pan-European project designed to create a universal invoicing interface across every Government and public institution in the region. TRADESHIFT campaigns through 'Real Supplier Choice,' highlighting that the wide variances in pricing models of the many networks causes those buyers who invest in them, to never see the levels of supplier uptake necessary to provide an effective ROI.

Christian Lanng, CEO of TRADESHIFT, sees this as another step in freeing trading partners from proprietary standards and vendor lock-in: "Historically, enterprise software companies have taken advantage of their own customers, using restrictive practices to make it as hard and financially painful as possible to move to a superior service. Initiatives like OFS Portal send a clear message to the e-commerce industry that OFS Portal Members, like trading partners in other industries, want interoperability and efficiency. We should always be looking for ways to promote e-commerce providers that offer the flexibility to allow customers to choose the best provider for a particular service without locking in either trading partner or forcing one to absorb the other's costs. And TRADESHIFT will stand by them."

"The driving principles of OFS Portal in promoting interoperability and efficiency align perfectly with what TRADESHIFT is striving to achieve for all businesses around the globe. This agreement is a great step forward for our members, their customers and our whole industry. It cements interoperability at the heart of the oil and gas business, creating new opportunity and freedom for all," stated William Le Sage, OFS Portal CEO. "The return on investment in e-commerce capabilities is dramatically increased through speed of adoption and flexibility. TRADESHIFT's flexible business model reduces the reluctance of suppliers to adopt e-commerce connectivity and this is critical for our industry."


TRADESHIFT connects businesses on a secure online network to help them work collaboratively and manage tasks such as invoicing and cash flow. In the TRADESHIFT Business Cloud, organizations create a network with their suppliers, customers and partners to streamline common business processes powered by the latest technologies.

Launched in May 2010, TRADESHIFT is used by over 120,000 companies across 190 countries. Businesses on the TRADESHIFT platform include ASP NHS, the French Government, Kuehne+Nagel, TDC, DT Group and DSV. In 2010, TRADESHIFT was awarded Best Enterprise at The Techcrunch Europa awards and Most Innovative Solution by Financial-I. In 2011 the company was also highly commended for "Kicking ass globally" at the Techcrunch Europas.

TRADESHIFT Inc is headquartered in San Francisco with offices in Copenhagen, London, Frankfurt and Amsterdam.

TRADESHIFT fundamentally shifts the way you do business. For more information, visit http://tradeshift.com/enterprise

About OFS Portal, LLC

Headquartered in Houston, OFS Portal, LLC (www.ofs-portal.com) is a global member-based group of upstream oil and gas suppliers and service providers at the forefront of oilfield e-commerce. With e-commerce focused on helping buyers to digitize their supply chain, OFS Portal promotes cost-effective approaches to make e-commerce a reality for both buyers and sellers. OFS Portal works with global standards organizations to converge or develop open and non-proprietary e-commerce standards for use in the upstream oil and gas industry.

Electronic catalogs are provided in standard format at no cost to OFS Portal members' customers. OFS Portal operates with a non-profit objective. Success is measured by the members' ability to reduce costs, increase internal efficiencies and optimize customer service. OFS Portal members include: Baker Hughes, Cameron International, Halliburton, Schlumberger Oilfield Services, Select Energy Services, Trican Well Service, Vetco Gray, and Weatherford International. Membership is open to any oilfield supplier with activities in the upstream oil and gas sector.