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E-invoicing, SCF & E-procurement

Palette, CloudTrade provide e-invoice capture tool

Thursday 4 July 2019 | 10:51 AM CET

US-based purchase-to-pay automation company Palette and e-invoicing provider CloudTrade have teamed to digitally capture supplier invoices.

Palette Software has announced a partnership with CloudTrade Networks to deliver end-to-end automation for supplier generated invoices delivered into the Palette Purchase to Pay cloud platform.

CloudTrade’s invoice capture service reads and converts emailed invoices in PDF, XML, EDI, or other electronic format. CloudTrade delivers 100% data accuracy at the header and line level, and converts and enriches the acquired data to a format required by the client’s ERP. The service is free to the supplier and reduces their costs, as their invoice is simply emailed to a designated email address where CloudTrade technology extracts invoice data. The buyer receives a validated data stream together with the original invoice for automated delivery to Palette’s invoice processing module.

Invoice collection and capture is the initial step in implementing a purchase to pay automation solution. Once invoices have been digitalised by CloudTrade, Palette uses the data for invoice processing, mobile approval workflows, and the automated matching of purchase orders, goods receipts, and contract data.

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