Many organisations exclusively use OCR to capture data held within documents and then manually input it into your back-office AP or Invoice Automation solution. CloudTrade offers you several ways to receive and process electronic invoices – including EDI invoice submissions.
However, the most common format today is the PDF invoice, via email.
PDF Invoicing is the key to improving the accuracy of your data. Validating each invoice before passing it on takes time, and any that are rejected, contested or corrected will only delay the process. Boost the efficiency of your AP processes and save further costs caused by unnecessary paper invoices. Suppliers also benefit from e-Invoicing, as bills are processed more quickly and payments made on time.
What type of Invoice can CloudTrade Process?
Every proprietary sales or invoicing solution can produce an PDF – so why not capture the data directly from the document?
These ‘application generated PDFs’ almost always carry the invoice data within the PDF itself; the data is secure, embedded in the PDF and 100% accurate. CloudTrade’s service can read the data, directly from the PDF and can run complex, logic-based rules against the data to provide you with 100% accurate file to pass through to your Sales Order Processing or Accounts Payable/Invoice Automation system.
In simple terms our patented rules engine interprets and categorizes the data in the PDF to create an output file, to your specification (usually XML), for automated ingest into your accounts payable system.
Our solution is non-disruptive for suppliers to use and it’s very likely they are already sending PDF invoices via email already.
We know that creating and sending a PDF invoice is the preferred way for most suppliers to invoice. It is easy to use, non-disruptive and out-of-the-box for all accounting applications and the supplier invoice will be processed faster – what could be simpler?
Why would my suppliers use it?
DO MY SUPPLIERS HAVE TO DOWNLOAD ANY SOFTWARE TO USE CLOUDTRADE?
NO. Your suppliers are probably already sending all their invoices to an email of your choice e.g. firstname.lastname@example.org (not a real email address). CloudTrade can pick these up, map the data and process the document within minutes of receipt.
WILL THERE BE ANY COST TO MY SUPPLIER?
NO. If they aren’t already sending you an invoice you just ask them to send you an electronic PDF – this will be a small change to their internal invoice process.
CAN A SUPPLIER SEND MORE THAN ONE INVOICE PER MAIL?
YES. We can support almost all scenarios that a supplier can throw at us. For the full description of our service, speak to a CloudTrade expert today.
ARE ELECTRONIC SIGNATURES REQUIRED?
In most European, North American and Asia Pacific countries, electronic signatures are not required. In regions where electronic signatures are a requirement, but we support them.