CloudTrade awarded US Patent for its Gramatica document data extraction.

CloudTrade announced that its proprietary document data extraction software ‘Gramatica’ has been awarded a patent by the U.S. Patent and Trademark Office (U.S. Patent No. US 20130318110 A1).

CloudTrade’s Gramatica software uses unique artificial intelligence (AI) rules with backward tracking search, to interpret, validate, and extrapolate semantic meaning from documents of any type including invoices, sales and purchase orders and advanced shipping notices. CloudTrade’s Gramatica software is now protected by lasting patents in Europe, the U.S. and Australia.

David Cocks, CEO of CloudTrade:
“CloudTrade is committed to developing innovative software solutions and this patent demonstrates the novelty of our approach to document data extraction.  We have solved an old problem of how to get a computer to interpret a human-readable document by matching patterns using AI. That means we can automate document processing saving time, money and paper.”

“80% of all invoicing in the U.S. is still paper-based, so we are extremely excited to bring our unique approach to the U.S. At CloudTrade, we recognize that the biggest obstacle to e-invoicing and e-document processing is getting vendors to adopt, that is why CloudTrade, and our technology, is built firmly on the premise that it should be free for vendors, easy to use and non-disruptive – only then will vendors move away from paper.”  

One business which is already using CloudTrade’s patented technology is San Francisco-based Taulia. Andy Stinnes, Chief Product Officer from Taulia, says: “Taulia’s mission is to automate and optimize the financial supply chain. CloudTrade is an important part of our e-invoicing offering, and helps moves companies from a manual, paper-based approach to a simple, electronic way of doing business.”

More information

CloudTrade’s patent, “System for data extraction and processing” (U.S. Patent No. US 20130318110 A1) is held exclusively by Keywordlogic Limited, a wholly owned subsidiary of CloudTrade. CloudTrade’s European Patent (EP2671190B1) has been live since 2014. The new Australian Patent reference is 2012213242.

About CloudTrade

CloudTrade is one of the fastest growing e-invoice and e-document networks, connecting over 120 organisations to thousands of their trading partners electronically across numerous sectors and regions across the globe. Founded in 2010 to offer a fresh approach to e-invoicing, CloudTrade enables companies to evolve past their reliance on paper and trade electronically with their suppliers, irrespective of size or technical maturity. CloudTrade’s unique, patented technology, delivers services not widely seen in the market, in a cost-effective way.

Find out more about CloudTrade by signing up for one of our webinars at http://www.cloudtradenetwork.com/resources/webinars

For further information go to: http://www.cloudtradenetwork.com/ or contact Nick Jones; 07832 115362, nick.jones@cloud-trade.com.

 

 

 

 

 


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