CloudTrade brings Oracle users ERP e-invoicing solution
In partnership with UKOCN, leading provider of cloud based e-invoicing services to deliver cost-effective, high adoption e-invoicing solution to Oracle's enterprise network.
CloudTrade’s e-invoicing solution integrates seamlessly with Oracle’s enterprise resource planning (ERP) platform and will ensure 100% accurate data is uploaded within minutes of a supplier submitting an invoice. Ensuring users see back office savings in the region of 60% and supplier adoption rates of over 80-90%.
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.
Steve Britton, CloudTrade’s Client Director, says: “When you’re doing business internationally and interacting with thousands of suppliers every day, your P2P process and ERP systems rely on accurate data to be highly efficient, easy to use and most importantly, operate on a global scale.
“Our solution encourages as many suppliers as possible to move away from paper and onto electronic document submission methods and because CloudTrade is incredibly cost effective and easy to use, we enable Oracle users to maximise efficiencies and transform their back-office functions by delivering a seemless ERP e-invoicing solution."
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 . 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.
UKOCN is the UK's leading on-line information service for Oracle customers and business users. At www.ukocn.com discover the latest news, events and business/cloud solutions from Oracle and their leading specialist partners. With over 30k people subscribed to UKOCN, it is the UK's largest FREE to join dedicated network of Oracle business and IT professionals. It is the place to find the latest innovative products, services and solutions to meet your business challenges and provides everything you need to know about the world of Oracle.
Would you like to know more about an e-invoicing system that really delivers the expected benefits within the planned timescale?