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CloudTrade brings patented, 100% accurate, Artificial Intelligence-based PDF capture solution to Cegedim

LONDON, ENGLAND, May 10, 2018 – CloudTrade, the leading provider of cloud-based e-invoicing and e-document services, was today named as one of Cegedim e-business’s worldwide e-invoicing partners. Its proprietary, patent protected PDF capture solution is now available to all Cegedim e-business users.

CloudTrade’s enterprise PDF capture technology solution will form a critical component of Cegedim e-business global offer and will ensure 100% accurate data is uploaded within minutes of a supplier submitting a PDF document. Ensuring users see back office savings in the region of 60% and supplier adoption rates of over 80-90%.

CloudTrade’s unique technology offers cutting edge Artificial Intelligence / Robotic Process Automation for document transfer, managing complex document structures with multi-line and line level data.  CloudTrade’s simplicity, accuracy and speed make it the best choice for businesses, such as Cegedim, to bolster their existing P2P solutions and ability to serve users and suppliers across all sectors.

Patrick Schuller, Business Development Director at Cegedim e-business, says: “CloudTrade provides a non-disruptive way for Cegedim’s network suppliers to send native PDF invoices straight into our processing application, and for buyers to receive accurate data to fully automate the accounting process.”

“CloudTrade offers an easy to use, single integration point with Cegedim’s wider multichannel supplier and customer e-invoicing service. For all our users, that will result in quicker processing, eliminating manual entries and the associated human errors, and removing paper from the invoicing and P2P process.”

Cegedim e-business specializes in digital transformation through electronic data exchange, B2B portals and network, electronic signature and legal archiving, with over 120,000 connected companies and 350 million flows processed every year.

Cegedim’s e-business e-invoicing portal enables users to switch 100% of their invoices to electronic, with a 100% data accuracy rate, in a fully compliant manner. Partnering with CloudTrade brings Artificial Intelligence benefits to achieve higher results, faster.

David Cocks, CloudTrade’s co-founder and CEO, says: “When you’re doing business internationally and interacting with thousands of suppliers every day, your P2P process and EDI systems rely on accurate data to be highly efficient, easy to use and most importantly, operate on a global scale. Two thirds of e-invoices are exchanged in PDF format, so our solution encourages as many of Cegedim’s users’ suppliers as possible to move away from paper and onto electronic document submission methods. Because CloudTrade is incredibly cost effective and easy to use, we enable Cegedim’s users to maximise efficiencies and transform their back-office functions.”

CloudTrade is one of the world’s fastest growing e-invoice and e-document networks, connecting hundreds of global organisations to thousands of their trading partners electronically, across numerous sectors and regions.

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 complex documents, of any type. So, whether its invoices, sales and purchase orders or advanced shipping notices, CloudTrade processes them automatically and cost effectively.

Although CloudTrade offers organisations several ways to send complex business documents (including direct XML / EDI), by far the most popular approach is for an organisation 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 documents are easy to use and out-of-the-box with most ERP and accounting packages. As a result, typically >90% of organisations (irrespective of shape or size!) when asked will send PDF documents – including invoices, sales and purchase orders, advanced shipping notices and other complex, data rich documents.

About CloudTrade

CloudTrade is one of the fastest growing e-invoice and e-document networks, connecting over 200 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, nick.jones@cloud-trade.com.

About Cegedim e-business:

Cegedim e-business is a European leader in B2B process automation and digitalization. It handles over 850 million data flows annually and connects 120,000 companies worldwide. Cegedim e-business uses its unique range of e-procurement, e-invoicing, e-archiving and e-signature services to help companies of every size and in every business sector make a successful digital transition.

Cegedim e-business is a member of the PEPPOL and EESPA European networks. It operates a multichannel electronic exchanges platform that handles any type of document, from contracts to payments, and helps streamline client-supplier relationships while significantly improving administrative efficiency, cash management, and traceability.

To learn more, visit: www.cegedim-ebusiness.com

About Cegedim:

Founded in 1969, Cegedim is an innovative technology and services company in the field of digital data flow management for healthcare ecosystems and B2B, and a business software publisher for healthcare and insurance professionals. Cegedim employs more than 4,200 people in more than 10 countries and generated revenue of €457 million in 2017. Cegedim SA is listed in Paris (EURONEXT: CGM).

To learn more, please visit: www.cegedim.com

And follow Cegedim on Twitter: @CegedimGroup, LinkedIn and Facebook.

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