CloudTrade’s e-Invoicing and e-Document solution to help community of leading lawyers drive back office savings and boost efficiency
NEW YORK, May 10, 2017 – CloudTrade, the leading provider of cloud-based e-invoicing and e-document processing services, today announced that its e-invoicing solution has been selected by Lawyers Mutual to help drive efficiency across its mutual professional liability insurance business.
CloudTrade has been selected as part of Lawyers Mutual’s ongoing transformation of its back-office functions and will substantially reduce administration costs and time associated with printing, postage, data entry and claim handling by helping fully automate Lawyers Mutual’s claims processes.
Lawyers Mutual spokesperson says: “CloudTrade’s e-invoicing solution will enable Lawyers Mutual’s administrative team to gain greater financial control, give greater visibility of any claims and will increase our ability to process those claims and pay out to our members quickly and efficiently.”
Lawyers Mutual has been providing continuous financial protection from professional liability to its stable of over 7,500 lawyers since its inception in 1977.
Roger Hatfield, CloudTrade’s VP for North America, says: “CloudTrade offers businesses in the legal sector, who rely on manual data entry for their invoices and claims, a simple, cloud-based and cost-effective solution that is easy to integrate into their back offices systems and that compliments their existing manual or automated workflow management processes.”
CloudTrade’s e-invoicing solution will integrate directly into Insurance System Inc’s ISI Enterprise – a fully-integrated browser-based insurance policy administration software solution.
How CloudTrade’s e-invoicing solution works
PDF invoices are sent to a designated email address are automatically detached via the hosted cloud service which extracts all of the claim number and invoice data. This data is then validated against open claims before being converted into an e-invoice that eFinancials can interpret and validate before processing payment. No manual intervention is required for this process.
Original PDF invoices will be stored by Lawyers Mutual in ISI Enterprise which links to the relevant transaction records in the invoice register. This ensures quick and secure online access to images without the need to handle paper.
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.
Find out more about CloudTrade by visiting https://www.cloudtradenetwork.com/ or by signing up for one of our webinars at http://www.cloudtradenetwork.com/resources/webinars