CloudTrade Logistics - Helping to unlock $147 billion
Introducing CloudTrade Logistics as a trusted partner for US Freight companies.
I’m truly excited to be setting up and leading this new initiative for CloudTrade: CloudTrade Logistics.
The US team have a great opportunity to help freight carriers, freight audit and freight technology companies get 100% validated data from freight invoices with no OCR or human intervention. Our technology is unique: it delivers efficiencies with the automated capture of Freight data within minutes of receiving the invoice - and we know this is a key area for ALL carriers in the US as over $147billion is locked up in AP invoice disputes!
The U.S. Federal Government ELD mandate requires all applicable operators of commercial motor vehicles to use Electronic Logging Devices (ELD’s) which will enable unparalleled access to vehicle and transport-goods data. This, in turn, will provide opportunities for new and existing businesses to provide solutions to access this data.
The most significant problem is that many organizations run legacy/heritage systems which still can’t ingest a PDF invoice… and this is where CloudTrade comes in.
CloudTrade Logistics gives organizations the opportunity to test a sample invoice and then engage with us to process electronically generated documents - at a fraction of the cost of OCR/Manual input, and with 100% validated data.
The best part is that our patented RPA and rules engine allows us to model complex data scenarios that were previously managed by human operatives, and in some instances, this has reduced the invoice processing time down from 30 minutes to a matter of seconds, with 100% data quality guaranteed.
Over the next few months I’ll be providing some updates on how things are going - so wish me luck!
Vice President – North America