CloudTrade removes the barriers to supplier adoption. More paper is removed in a shorter time frame than any other e-invoicing approach. Guaranteed.
It is a sad fact that e-invoicing projects often fail as they do not consider the role the supplier is expected to play.
Suppliers are like any organisation: they don't like change. So when they are asked to change their systems to send XML or EDI files; or to log onto a 3rd party portal to raise your invoice, more often than not their answer will be: "No".
CloudTrade is built firmly on the premise that e-invoicing should be free for suppliers, easy to use and non-disruptive - only then will suppliers move away from paper.
By removing the barriers, more suppliers move away from paper and onto e-invoicing
CloudTrade takes advantage of tools organisations already have and use
Typically >90% adoption: suppliers are usually live by their very next invoice
No one solution fits all, which is whay we have solutions to cater for every profile of supplier
Let suppliers know your e-Invoice email address
Supplier sends PDF invoice or other document (e.g. HTML, XML, EDI)
Incoming PDF or other data document converted into e-invoice structure (no OCR)
For the long tail of suppliers who provide just a few invoices a year our Cloud Capture service converts image & data invoice files - using OCR where needed - into e-Invoice structures
Validated e-Invoice received into your environment ready for processing
Free for suppliers, easy to use and non-disruptive - invoice submission options that maximise the adoption of e-invoicing in your supply chain.
Did you know?
When an application generates a PDF, in almost all instances it will be a text PDF. CloudTrade reads the document text straight from the PDF without the use of OCR – which guarantees 100% quality.
PDF invoicing is easy to use and out-of-the-box with most accounting packages. As a result, >90% of suppliers (irrespective of shape or size!) when asked will send PDF invoices.
Did you know?
Though XML and EDI is a great vehicle once set up, it often requires the supplier to make costly and difficult changes to their billing application and infrastructure to send them.
These changes can restrict all but the largest organisations with the budget and invoice volumes needed to justify the changes.
For those suppliers who prefer this method, we will map their data to your preferred structure.
Did you know?
A supplier portal is great for many things, though creating an invoice is rarely one of them. If a supplier already uses an accounting application, the question must be asked: "why would they want to duplicate effort and raise their invoice in the accounting package, then do it again in a 3rd party portal?"
Though CloudTrade integrates with a number of free-to-use invoice portals, this method of invoice submission is rarely liked by suppliers.
Did you know?
Although we strive to move all suppliers onto electronic invoice submission, the reality is that a small percentage of invoices may stubbornly remain on paper.
By asking the supplier to scan their invoice and email - or where not possible requesting the buyer to do the same - our Cloud Capture service can convert the image files using OCR into an e-invoice structure.
CloudTrade acts as a front door to your business. If the document doesn't pass the validation rules previously agreed with you, it doesn't get in. Though rules can vary between customers, common across each e-invoice service is a set of document compliance checks, which includes logic to ensure all mandatory fields are present and the data is valid.
This can be extended where required, to reconcile the invoice against the Purchase Order to make sure it is valid for the supplier and to check that sufficient funds exist to process. In scenarios where the customer’s processing environment requires the invoice data to be enriched before being uploaded, we can simulate the activities normally performed by Accounts Payable staff and derive the PO line number for each invoice line and/or auto code invoices prior to posting.
For more information about the Validation & Compliance, please contact us.
CloudTrade removes the barriers to supplier adoption which guarantees the maximum number of suppliers move away from paper and onto electronic invoicing.
Suppliers like our approach as it's non-intrusive: they don't have to change their systems to send XML or EDI; they don't have to log onto a 3rd party portal and they don't have to install any software. Buyers like our service because of the results: more paper removed in a shorter time frame than any other e-invoicing service provider.
For more information about invoice submission options, click here.
CloudTrade is growing. Each month, more and more buyers chose CloudTrade as their e-invoicing service provider. Each new buyer brings suppliers, some of which will already be on-board, some of which aren’t. As we grow, so does our network of connections, and sector and regional communities of suppliers start to appear and flourish.
In some sectors where we operate, we often find we have over 50% of a buyer’s invoice volume already on our network. Buyers can leverage the value in the network and the connections we have. If a supplier is already on-board, a connection exists and is shared with all buyers through our directory - further reducing the time and cost to on-board a supplier.
For more information about our network, please contact us.
In almost every organisation, the ‘80/20 rule’ can be seen: a relatively small number of suppliers are sending the vast majority of invoices. The biggest benefit is usually found by moving this section of the supply chain over to e-invoicing as quickly as possible.
But what about the long tail of low volume suppliers? Our Cloud Capture service tackles this section of the supply chain. Low volume suppliers submit their invoice in any format, via any delivery method. If already on the network, the connection is shared. If not, then the buyer is able to take advantage of Cloud Capture’s machine learning algorithms, to on-board the supplier themselves; removing the reliance on CloudTrade and associated on-boarding charges.
Conceptually what we do is easy to understand: we let a supplier send an invoice in ANY format or structure, via ANY delivery mechanism. We intermediate, converting the document into the format and structure you want to receive it in.
Although transparent to the customer, technically it is of course slightly more complex. Our patented technology - developed in a language usually reserved for AI applications – provides us with the power to make traditionally complex tasks, simple. Whether it's interpreting data from semi and unstructured documents, or using machine learning algorithms to allow buyers to on-board their own suppliers using our Cloud Capture service, the power of our technology lets us make the complex tasks simple - which in turn allows us to maximise adoption and usage.
For more information on our Advanced Technology, please contact us.
PEPPOL was conceived as a means of creating a cross border messaging standard to enable suppliers to trade with public sector organisations across Europe.
In the UK, PEPPOL is a central pillar of the Government’s eProcurement strategy for the NHS, the aim to increase the use of eProcurement within the NHS and to make trading with the NHS easier for business of all sizes. Ultimately, PEPPOL aims to save money within the NHS back office which can be used for front line services.
CloudTrade is a PEPPOL Access Point and can help both supplies and buyers with their PEPPOL project.
We don't ask your suppliers to change their systems to send EDI or XML.
We don't ask your suppliers to log onto a portal to submit their invoice or order.
We don't charge an organisation to send their invoices or orders to you.
Paper is removed: Electronic invoices are delivered straight into your financial management application.
E-invoicing is the foundation element for accounts payable automation and straight through processing.
Validation and integrity checks are embedded in the CloudTrade service to ensure processing compliance.
Want more information about CloudTrade and the services we offer?