How long does it take you to on-board a new supplier?

October 27, 2014  |  Adoption, Electronic Invoicing

According to this post CloudTrade onboarded a new supplier in just 26 minutes – from initial request via email (to a supplier we’ve never had contact with before) to the supplier actually submitting their first, live production invoice via CloudTrade.

So how is CloudTrade able to onboard a supplier that quickly? Well, perhaps of their drive and because CloudTrade is different from other e-invoicing solutions. There are three key differentiators, why CloudTrade can onboard more suppliers and more quickly than anyone else:

  1. They don’t ask/require suppliers to change any of their processes

    E-invoicing solutions require suppliers to send EDI or XML files which involves changes to their applications or infrastructure causing cost and time, and as a result all but the largest suppliers don’t do it… and when they do, you are talking months to get them live rather than minutes!

  2. They don’t ask suppliers to raise their invoice twice

    Raising the invoice in the suppliers own system and then again in a 3rd party portal causes extra effort, cost, errors and nuisance.

  3. They don’t charge suppliers for sending their invoice

    Charging suppliers for sending an invoice is a standard model for many e-invoicing solutions on the market and one CloudTrade fundamentally disagree with.

Actually, CloudTrade doesn’t require the supplier to do anything differently and this is probably why they have such good onboarding rates – typically in excess of 90%. Suppliers can create their invoice using their current process. All they need to then do is generate a PDF invoice (which almost all accountancy packages can do) and email it to you. CloudTrade intermediates and maps the data directly from the PDF and populates your accounting package. There is no change or inconvenience to the supplier, and because the data is taken straight from the PDF we can also guarantee 100% data accuracy, so no checking, correcting or data input needed on your side.

On-boarding suppliers couldn’t be easier: they simply email the supplier asking them to send their next invoice to us as a PDF. And this is where the ubiquitous nature of PDF invoicing has allowed us to achieve what must surely be an onboarding world record – 26 minutes from the initial email requesting the supplier to follow the new process, to the supplier sending their invoice and being set up on CloudTrade.

 


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