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cloudtradenetwork.com

Founded Year

2010

Stage

Acquired | Acquired

Total Raised

$2.6M

About CloudTrade

CloudTrade is a UK-based provider of cloud-based e-invoicing, e-order and complex data capture services. CloudTrade's technology – which has been patented in Europe, the US and Australia – enables companies to automatically process electronic documents such as invoices and sales orders received by email.On October 18th, 2021, CloudTrade was acquired by Advanced. Terms of the transaction were not disclosed.

CloudTrade Headquarters Location

One Redcliff Street

Bristol, England, BS1 6NP,

United Kingdom

+44 203 637 9334

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Latest CloudTrade News

CloudTrade Celebrates $3B Worth of Invoice Processing for SAP Ariba Customers

May 18, 2022

Share CloudTrade announces that $3B worth of invoices have been processed via its platform since 2018, when the CloudTrade and SAP Ariba Standard PDF Invoice conversion application was released. Boston,United States - May 18, 2022 /PressCable/ — CloudTrade , an Advanced company, the leading provider of e-invoicing and complex data capture services, is celebrating a significant milestone in its partnership with SAP Ariba. CloudTrade announces that $3B worth of invoices have been processed via its platform since 2018, when the CloudTrade and SAP Ariba Standard PDF Invoice conversion application was released. CloudTrade was acquired by Advanced, the leading provider of business software and services, in October 2021 and continues to drive investment and grow its relationship with SAP Ariba. Advanced’s expanding portfolio of solutions across Finance and Spend Management positions it well to support its customers and partners such as SAP Ariba, to overcome more and more of the business challenges they face. Nathan Ollier, Vice President of ERP for Advanced, explains: “SAP Ariba offers the World’s supply chain the opportunity to trade fully electronically, helping businesses of all sizes to achieve digital transformation and optimal scalability. The size of Ariba Network is unparalleled and, thanks to CloudTrade’s suite of unique, proprietary e-invoicing solutions, the methods by which the buyers and suppliers can transact are massively enhanced, so much so that $3B worth of invoices have now been processed via CloudTrade’s platform, since the solution was launched on Ariba Network in 2018.” Today CloudTrade offers a suite of solutions, available via the SAP® App Centre independently or as a solution suite. Those tools provide Ariba users with a single, affordable solution for the automation of all their inbound invoices, including PDF’s and images, low and high volume. CloudTrade’s solutions include: CloudTrade’s PDF Invoicing for Ariba Network, which extends the reach of electronic invoicing and enables medium volume senders and upwards (suppliers that submit over 100+ invoices per annum) to transact digitally on Ariba Network. Removing the need for suppliers to do PO Flip or undertake lengthy technical setups or use error prone OCR. PDF Invoicing Customizations PDF Invoicing Customizations reads, converts, and enriches machine generated PDF data to a format required by both Ariba Network and the buyer’s finance application. This can include additional fields or validation needed by the buyer to allow them to upload the document and data to their downstream processes. CloudTrade’s Two-way PO match and invoice enrichment service allows a buyer’s PO data to be accessed via the SAP Ariba published Open PO API, so the suppliers invoice can be checked and verified against a PO and mandatory fields before creating an SAP Ariba compliant cXML file for automated downstream processing. CloudTrade’s Buyer ANID Email Insertion delivers a customized, unmonitored service to automatically populate the subject line of the email with the sender’s ANID number to speed up identification checks, without any system changes from either the sender or buyer. CloudTrade Invoice conversion Services (CICS) for OpenICS add-on enables SAP Ariba users to process image files, alongside data PDF’s and Word, XLS and XML format invoices using CloudTrade’s patented technology, without making any operational or technical changes. CICS also ensures any specific extraction requirements and validation rules are met before the invoice is uploaded to Ariba network. New add-ons are also set to be launched later this year to further enhance CloudTrade’s existing PDF universal data capture and conversion solutions for senders and receivers of any application generated documents. CloudTrade’s rapid invoice automation enables submission and receipt of invoices from supplier to buyer with ease. A supplier simply emails or uploads the invoice (as produced from their billing system as standard) and it is converted to an Ariba Network compliant invoice for automated processing. Nathan Ollier concludes: “We are immensely proud of our ongoing partnership with SAP Ariba and the assistance the team have brought to Ariba Network during that time. The team and I look forward to enabling more of the network to transact digitally and reap the rewards of automating their back-office functions.” About SAP Ariba Founded in 2010 to offer a fresh approach to electronic document processing, CloudTrade forms an integral part of several global business service provider’s solutions with over 850+ customers globally around the world who trust CloudTrade with $20bn worth of documents as their application generated document automation tool, alongside over 50 partners. SAP Ariba supports businesses achieve digital transformation through its e-procurement and supply chain capabilities. Supported by Ariba Network, it connects small to large organizations across the world connect on a single platform. The SAP Centre connects Ariba Network users with real-time access to approximately 1,900 innovative partner solutions that complement and extend their SAP solutions, enabling digital transformation of their business. SAP App Centre customers can buy solutions directly from partners and centrally manage purchases, billing, and vendor communications. CloudTrade Technologies is a partner in the SAP® PartnerEdge® program. As such, it is empowered to build, market, and sell software applications on top of market-leading technology platforms from SAP. The SAP PartnerEdge program provides the enablement tools, benefits, and support to facilitate building high-quality, disruptive applications focused on specific business needs – quickly and cost-effectively. The program provides access to all relevant SAP technologies in one simple framework under a single, global contract. 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. 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 and freight and logistics documents, as well as Invoice Fraud Protection. 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 . Media Contact: Contact Info:

  • When was CloudTrade founded?

    CloudTrade was founded in 2010.

  • Where is CloudTrade's headquarters?

    CloudTrade's headquarters is located at One Redcliff Street, Bristol.

  • What is CloudTrade's latest funding round?

    CloudTrade's latest funding round is Acquired.

  • How much did CloudTrade raise?

    CloudTrade raised a total of $2.6M.

  • Who are the investors of CloudTrade?

    Investors of CloudTrade include Advanced and Calculus Capital.

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