All inbound documents in one place
Our unique solution extracts data from digital files as well as image files, long tail and short tail.
Digital files and image files,
long and short tail
CloudTrade’s Universal Capture for e-invoicing provides one solution for the automation of all types of inbound invoices, including pdf’s and images, low and high volume. It is the only solution on the market that can be specifically tailored to your business requirements, is suitable for enterprise businesses as well as SMEs and fully automates the ‘short tail’ as well as ‘long tail’ invoices, while maintaining optimum levels of data quality.
Get rid of the tricky
Automating the processing of inbound invoices can be a tricky process. Businesses usually have to use a myriad of technologies tailored to meet the supplier’s needs, rather than the business, often resulting in duplicated processes and wasted time and resources.
It is particularly challenging when a business has many suppliers with low volumes of invoices, as the cost of automation, by tailoring solutions to meet these supplier numbers, often cannot be justified.
But what if you could use one solution for all your inbound digital invoices?
A new solution
to rid the data headache
CloudTrade’s Universal Capture for e-invoicing is the new and unique solution that targets all volumes and document types for inbound invoices and is fully customisable for your business requirements.
The specialist solution optimises automation for all inbound invoices with high supplier adoption, no costly supplier on boarding, and submits all your inbound invoice data into your FMS or ERP solution, automatically.
Universal Capture automates inbound documents, usually received via email, in a three tiered structure and adapts to the file type and volume. Automation rules are tailored for suppliers with high volumes, with the data taken straight from the data-layer of the PDF so that we can guarantee 100% data accuracy, every time. Inbound invoices from image files and those with low volumes use universal rules to extract the data, with accuracy dependent on the quality of the document received.
all the way
CloudTrade solutions are delivered as a Managed Cloud Service. Our internal team makes sure that the product is fully operational and extracting the data you need, before the project is made live and are here to support you with any queries for the lifetime of the contract.
How does Universal Capture work?
CloudTrade’s Universal Capture adapts the processing of the data, depending on the file type and volume to maximise data accuracy and minimise human input.
1. The short tail invoices, suppliers with high volumes - digital documents (incl PDF, HTML, XML, Word, CSV etc.)
With the highest supplier invoice volumes, 100% data accuracy is guaranteed by setting up a standard set of rules per supplier. The data capture is therefore fully replicated on each invoice transmitted through CloudTrade, with full automation.
Not only do these rules guarantee 100% accurate data but once a group of rules has been set up, the rules are managed and maintained by CloudTrade support team for a one off fee for the lifetime of the contract. If there are any changes to the invoice design, types of data to be captured or supplier details, this is all updated routinely without manually buyer edits.
2. Image files, invoices scanned using OCR Technology
While less commonly used, image files are still a key part of data capture, either generated by a buyer (the company using CloudTrade) receiving a paper invoice and scanning the document on arrival, or a supplier sending an image file directly to the buyer.
Due to the identification technology for image interpretation, accuracy levels range from around 80-90%, so some small manual correction may be required during processing. Unlike digital documents, image files do not contain a ‘data layer’ so the characters are recognised rather than extracted, so accuracy levels vary. We recommend encouraging suppliers to submit digital documents to improve the accuracy of data capture.
3. The long tail invoices, suppliers with lower transaction volumes - digital documents (incl PDF, HTML, XML, Word, CSV etc.)
It is common that companies receive invoices from some suppliers infrequently or for one-off projects. For these suppliers with low volumes of inbound invoices, the cost of set up for full automation and the short set up time may not be feesible or cost effective for such infrequent invoice volumes.
In these cases, Universal Capture uses the knowledge learnt from other invoice types and the CloudTrade network to extract the data your business requires. The data extracted is done under a best efforts basis, so may require some checking or correction, but removes much of the manual and costly data input that would usually be incurred.