CloudTrade and Taulia partner to provide best of breed invoicing solutions to global businesses
LONDON, ENGLAND, 11 October, 2017 – CloudTrade, the leading provider of cloud based e-invoicing services, today announced that some of the world’s leading brands using Taulia will reap the benefits of its unique e-invoicing solution.
The integration of Taulia’s invoicing solution with CloudTrade’s e-invoicing solution is substantially reducing administration costs and drive efficiencies across the businesses, by fully automating end to end accounts payable (AP) processes.
CloudTrade now forms an important part of Taulia’s global offering, interfacing directly into Taulia via its open APIs, enabling many of the world’s leading businesses to transition to paperless invoicing.
Markus Ament, Taulia’s co-founder and Chief Strategy Officer, explains: “CloudTrade offers an e-invoicing service that removes the barriers typically associated with supplier adoption. Their solution allows us to integrate suppliers who are using structured PDF documents today and have the desire to submit them via Taulia to their buyers. This enables global business and their suppliers to align their commercial objectives to eliminate process inefficiencies, connect with their suppliers, build strong, mutually beneficial relationships, and to free up cash.”
Richard Manson, CloudTrade’s co- founder and Commercial Director, says: “The key to success is to achieve high on-boarding rates and to on-board suppliers as quickly as possible. CloudTrade solves that problem with our unique approach to e-invoicing.
“Rather than making suppliers change their technology and processes, or duplicate the creation of their invoices, they can simply create a PDF version of their invoice, email it over to us and our technology maps the data directly into Taulia’s accounting system”.
How CloudTrade’s solution works
- CloudTrade’s patent-protected software uses unique rules based technology with backward tracking search, to interpret, validate, and extrapolate semantic meaning from documents of any type.
- So, whether its invoices, sales and purchase orders and advanced shipping notices, CloudTrade processes them automatically and cost effectively, with unprecedented accuracy.
- Although CloudTrade offers suppliers a number of ways to send their electronic invoice (including direct XML / EDI), by far the most popular approach is for a supplier to simply send an application generated PDF via email. 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, typically >90% of suppliers (irrespective of shape or size!) when asked will send PDF invoices.
CloudTrade is one of the fastest growing e-invoice and e-document networks, connecting over 120 organisations to thousands of their trading partners electronically across numerous sectors and regions across the globe. Founded in 2010 to offer a fresh approach to e-invoicing, CloudTrade enables companies to evolve past their reliance on paper and trade electronically with their suppliers, irrespective of size or technical maturity. CloudTrade’s unique, patented technology, delivers services not widely seen in the market, in a cost-effective way. CloudTrade’s software is protected by lasting patents in Europe, the U.S. and Australia. For further information go to: http://www.cloudtradenetwork.com/ or contact Nick Jones; 07832 115362, firstname.lastname@example.org.