SAP S/4HANA Invoice Capture for AP announced by CloudTrade, an advanced company
CloudTrade, an advanced company, has announced Invoice Capture for SAP S/4HANA which reduces an organization’s reliance on outdated manual entry of invoice data. CloudTrade technology captures invoice data in the cloud within minutes of receipt.
CloudTrade, a cloud-based digital invoice capture provider, has announced Invoice Data Capture for SAP S/4HANA. The technology is used to extract billing data with 100% accuracy from vendor invoices sent to Accounts Payable departments in large organizations.
CloudTrade has a patented rules engine that extracts data from vendor invoices within minutes of receipt. The technology extracts and validates invoice data, and because it directly accesses the electronic invoice data layer, a 100% accuracy rate is guaranteed.
Many organizations struggle with manually entering data from incoming supplier invoices. CloudTrade reduces reliance on manual effort and automates the receipt and processing of critical billing data. Suppliers send their invoices to a specified email address where CloudTrade extracts the data and, once verified, CloudTrade sends the invoice directly to SAP S/4HANA.
CloudTrade’s Invoice Capture for SAP S/4HANA does not disrupt suppliers, as there is no additional cost and it is free to use. Most vendors already send invoices in PDF or electronic format, so adoption rates are very high. Additionally, CloudTrade is easy to implement as there is no software to install or network issues to troubleshoot.
“Extracting data from vendor invoices is always a problem for large enterprises,” said Roger Hatfield, VP North America for Advanced Company CloudTrade, “due to errors caused by manual entry methods. data or legacy technology that creates more work for AP teams.”
OCR and invoice scanning technology are most commonly used in businesses today. However, the accuracy rates are less than 100% because the software “interprets” the information in an invoice. CloudTrade guarantees a 100% accuracy rate because the solution extracts invoice data directly from the data layer of an electronic invoice or PDF.
CloudTrade’s patented rules-based technology extracts, validates, and augments data layer billing data in an SAP S/4HANA-compliant format and publishes it directly to SAP S/4HANA without human intervention.
For more information: https://www.cloud-trade.com/en-us/invoice-capture-sap-hana
About CloudTrade, an advanced company
As the market leader in document automation, CloudTrade makes 100% accurate data processing available to all senders and receivers of application-generated documents. Over 650+ customers worldwide trust CloudTrade with $20 billion in documents as an application-generated document automation tool, alongside over 50 partners.
Founded in 2010 to deliver a new approach to electronic document processing, CloudTrade’s unique, patented technology enables businesses to move beyond their reliance on paper or labor-intensive manual processing and transact digitally. with their business partners, regardless of their size or technical maturity. CloudTrade was acquired by Advanced, a leading enterprise software and services provider in October 2021.
CloudTrade’s core product suite focuses on automating freight and logistics invoice, order and document processing, as well as protecting against invoice fraud. CloudTrade is now an integral part of the solutions of several global business service providers, interfacing directly with vendor APIs.
CloudTrade’s software is protected by enduring patents in Europe, the United States and Australia. CloudTrade is an advanced company. For more information, visit www.cloud-trade.com.
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Name: Roger Hatfield
Email: Send Email
Organization: CloudTrade, an advanced company
Address: 68 Harrison Avenue 6th Floor, Boston, Massachusetts 02111, USA
Build ID: 89056140