Current AP processes are typically reliant on people to either manually register invoices or correct the results from an OCR service.
Many organisations are already seeing a backlog of invoices as a result of staff unable to work from the office or due to sickness or isolation.
How is your Accounts Payable function managing in these unprecedented times?
To provide business continuity support, CloudTrade is offering a quick start e-invoicing service that enables you to scale up or down each month, while only paying for the transactions processed.
Access to the CloudTrade network will be made available free of charge and the minimum subscription term reduced to just 12 months.
The following provides an indicative cost based on a 1-year term.
| Typical service set-up | £3,000 – £5,000 / $5,000 – $7,500 |
|---|---|
| Typical monthly service fee | from £500/ $750 per month |
The service can be set up remotely in under 2 weeks.
This provides an automated system to receive invoices and helps to ensure that your suppliers are paid on time even if your organisation has significantly reduced staff in the weeks and months ahead.
It is important that we understand your business requirements including expected volumes and the data requirements of the application for integration.
CloudTrade have standard integrations with most leading ERP and Finance solutions, any new integrations can normally be set up within 2 – 3 days.
We will work with you to complete our Project Initiation Document which provides the information needed to successfully take a project from initiation through to go live.
The Project Initiation Document (PID) aims to answer these core questions:
What data is needed by your ERP/FMS in order to ingest and process an e-invoice file?
What business rules need to be embedded in the service and how to manage documents that fail validation?
What data output structure and method connectivity is required? Typically, this is in an XML, CSV or JSON but we can build other outputs as required.
Once the PID has been completed, the team moves into the build and testing phase. The CloudTrade team build the data acquisition and processing environment based on the information received. The team will also allocate suppliers already on our network to your environment and configure any suppliers that are used by you but new to the network.
When written, the supplier rules are managed by the CloudTrade team for the lifetime of the contract, any reasonable changes such as changes to invoice formats are free of charge.
The testing phase focuses on end-to-end and scenario testing to ensure the rules and processes function as required. When both parties are happy, we go live!
Finally, we need to get as many of your suppliers onboard as much as possible to bring about maximum product benefit.
Although many of your suppliers will already be sending your invoices via email, we will work with you on an outreach programme to inform suppliers of the new CloudTrade process (typically a change in email address) and also encourage any suppliers still using paper and post, to email these over instead.
Once live, you will receive e-invoices directly into your processing application typically within 5-10 minutes of the supplier sending it – with 100% data accuracy guaranteed!
Arrange a 15 minute, no obligation call back with our team to see a demo and discuss your requirements
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