CloudTrade’s patented e-invoicing technology will enable Palette to provide customers with a paperless alternative.
The Palette - CloudTrade partnership marks the formalisation of a relationship spanning over 5 years, involving a network of shared end-users and channel partners. Both CloudTrade and Palette have pre-existing ties with Converga, a provider of advanced information logistics and Echovera, who provides document automation solutions.
Palette has traditionally focused on a combination of OCR and EDI to support the delivery of their P2P suite of applications, which depend on e-invoice technology. However OCR involves scanning documents and converting into data, which can require constant quality control measures to ensure consistency. CloudTrade’s solution has removed the reliance on OCR and provided a paperless option that can accommodate any existing systems.
CloudTrade is an e-invoice and e-document network. The company is electronically connecting over 100 organisations to their trading partners across a number of sectors and regions across the globe.
Palette is a provider of solutions for enterprise purchase-to-pay and automated processing of supplier invoices. The company’s accounts payable product suite, PaletteArena, provides an automated approach to supplier invoice matching and straight-through-processing. Palette was founded in Sweden in 1993, and has sales offices across Europe and in the US, with 1700 customers in 50 countries.
For more information about CloudTrade, please check out a detailed profile of this company in our dedicated, industry-specific online companies database.
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