CloudTrade, the market leader in document automation, has announced that invoice data capture for SAP R3 is now available. The cloud solution helps organizations with large vendor invoice volumes capture and validate invoice data. The technology provides customers with 100% data accuracy, a large improvement over legacy OCR.
Many companies struggle with vendor invoice data capture. Invoices are received in either emailed or paper format and the information is manually keyed in. Human error, missed invoices and the resources to perform this function can hamper the ability of accounts payable departments to operate efficiently.
The CloudTrade solution receives invoices in electronic format delivered through email and within minutes of receipt, the invoice is processed in the cloud and made available in SAP R3. CloudTrade’s solution guarantees 100% data accuracy because the data is extracted directly from the data layer of the document or PDF. Complex, logic-based rules are then applied to this data to provide customers with an automated, data secure file that can be seamlessly passed through SAP R3.
One concern when changing to new systems is the effect it has on suppliers. CloudTrade has no impact on suppliers because there are no infrastructure changes, software installs or third-party portals to log into. Suppliers send their electronic email to a specified address where the data is extracted and then forwarded to SAP R3.
“Clients appreciate the low impact on suppliers, and for suppliers the adoption rate is very high,” said Roger Hatfield, Vice President North America for CloudTrade, an Advanced company, “because most ERPs can output an electronic format PDF quite easily.”
To find out more about CloudTrade’s Invoice Data Capture for SAP R3, visit: https://www.cloud-trade.com/en-us/invoice-capture-sap-r3
About CloudTrade, an Advanced company
As the market leader in document automation, CloudTrade makes 100% accurate data processing accessible for all senders and receivers of application generated documents. Over 650+ customers globally around the world trust CloudTrade with $20bn worth of documents as their application generated document automation tool, alongside 50+ partners.
Founded in 2010, CloudTrade offers a fresh, unique approach to electronic document processing. CloudTrade’s unique patented technology, enables companies to evolve past their reliance on paper or labor-intensive manual processing and transact digitally with their trading partners, irrespective of size or technical maturity. CloudTrade was acquired by Advanced, a leading provider of business software and services in October 2021.
CloudTrade’s core product suite focuses on automating the processing of invoices, orders, freight and logistics documents, as well as Invoice Fraud Protection. CloudTrade now forms an integral part of several global business service provider’s solutions, interfacing directly into the providers’ APIs.
CloudTrade’s software is protected by lasting patents in Europe, the U.S. and Australia. CloudTrade is an Advanced company. For further information visit www.cloud-trade.com.
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Release ID: 89063012