CloudTrade, the leading provider of cloud based e-invoicing and e-document processing services, today announced that it will be partnering with Melbourne-based, Valta Technology Group, as part of its global expansion and to satisfy the increasing demand for its solutions in the APAC markets.
CloudTrade’s partnership with Valtatech will strengthen the business’s presence in the Australian, Asian and Pacific markets. Enabling businesses of all sizes to adopt CloudTrade’s unique e-invoicing solution; that substantially reduces administration costs and drive efficiencies across businesses by fully automating accounts payable (AP) processes and enables a simple transition to paperless invoicing.
David Cocks, CEO of CloudTrade, says: “At least 80% of all invoicing in APAC is estimated still paper-based, so we are extremely excited to be bolstering our activities in the region. 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.
“We offer businesses who rely on manual data entry for their invoices and orders a simple, cloud-based and cost-effective solution, that is easy to integrate into their existing system and actually compliments their existing manual or automated workflow management processes.”
CloudTrade has existing partnerships in APAC with: Marketboomer, whose mission is to conquer the challenges of achieving business efficiencies in the hospitality industry. Improving efficiency, profits, and providing insights to ensure their customers and their suppliers achieve their full potential.
And Converga, a 100% owned subsidiary of Canon, who offer a range of office and business solutions which use imaging, data capture, document management and workflow technologies to provide clients with a real competitive advantage. Converga specialises in Procure-To-Pay, Accounts Payable Automation and Electronic Invoicing with their solution, Converga Digital Hub.
Cocks continues: “Our significant experience of working in the European market gives us insight into best practice and how to avoid some of the pitfalls associated with integrating an automated workflow management solution.
“Our partnership with Valtatech demonstrates CloudTrade’s commitment to extending our offering in the APAC marketplace. We are already in several active sales cycles in the region and look forward to expanding both our partner, and direct client, networks over the next 24 months.”
Jussi Karjalainen, CEO and founder of Valta Technology Group, says: “As a result of the continued economic growth in the APAC region, organisations are seeking innovative and effective ways of driving efficiencies across their back-office functions. CloudTrade’s leading, non-disruptive approach to e-invoicing, coupled with Valtatech’s reach and experience, will be the perfect fit for many businesses and we look forward to helping CloudTrade to grow across the whole Asia Pacific region, via our operations in Australia and the Philippines.”
Electronic and automated invoice processes can result in savings of 60-80% compared to traditional paper-based processing.
CloudTrade’s software is protected by lasting patents in Europe, the U.S. and Australia.
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.
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. CloudTrade’s software is protected by lasting patents in Europe, the U.S. and Australia. For further information go to: http://www.cloudtradenetwork.com/
About Valta Technology Group
Valtatech is a modern IT managed services and consulting provider, with offices in Melbourne, Australia and Manila, Philippines. Valtatech offers leading managed technology solutions, best practice consulting and outsourced solutions assisting organisation across Asia Pacific to automate their finance and procurement functions. Further information is available at: www.valtatech.com