CloudTrade and Capita help UK public sector organisations achieve 60% back office savings

CloudTradeCloudTrade announced that its e-invoicing solution is now part of Capita Integrated Business Solutions’ (Capita) transformational partnership programme to help drive efficiency savings across the public sector.

CloudTrade’s hosted e-invoicing solution working in partnership with Capita will:

  • reduce administration costs and time associated with printing, postage, data entry and document handling by fully automating a customer’s accounts payable (AP) processes.
  • speed-up the processing of customer invoices;
  • help organisations to go paper-free
  • remain compliant with Government late payment legislation.

Richard Manson, CloudTrade’s co-founder and Commercial Director:
“CloudTrade offers organisations who rely on manual data entry for their invoices a simple, cloud-based, cost-effective e-invoicing solution that guarantees high adoption amongst suppliers.

Our solution is easy to integrate into an organisation’s existing financial systems and can actually compliment their manual or automated workflow management processes. CloudTrade’s customers typically see back office savings of over 60% and supplier adoption rates of over 80-90%.”

Eamonn Morris, Managing Director at Capita Integrated business solutions:
“We are pleased to collaborate with CloudTrade because of their extensive public sector experience. We believe that our Financial Management solution, Integra, together with CloudTrade’s e-invoicing solution, will help public sector organisations to deliver more sustainable services and effectively adapt to changing needs against a backdrop of ongoing budgetary pressures, changing technology and customer needs.”

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 application generated PDF via email.  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.

About CloudTrade

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


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