CloudTrade has announced Invoice Data Capture for SAP ECC 6 that processes electronic invoices with 100% accuracy rates. The technology eliminates manual data entry and all the manual error and resource load this entails.
Boston, United States - September 24, 2021 /PressCable/ —
CloudTrade, a leading invoice data capture software company, has announced Invoice Data Capture for SAP ECC 6 that processes electronic invoices with 100% data accuracy. The technology eliminates manual data entry, and the manual error and resources manual processes entail. Large organizations using SAP ECC 6 deploy the technology to ingest and optimize the invoice data to SAP ECC 6 with unrivalled accuracy levels.
The software uses a patented rules engine to extract the data fields from vendor invoices. Invoice formats include PDF, EDI, HTML, XML and more. The data is extracted upon receipt and validated within minutes. The time savings is considerable for organizations with large invoice volumes.
The cloud-based invoice capture solution eliminates AP scanning and manual data entry and validation. Instead, vendors send their invoices to a specified secure email address where cloud technology extracts the invoice data and sends it directly into SAP ECC 6.
CloudTrade’s Invoice Capture for SAP ECC 6 is non-disruptive for suppliers and it’s likely they are sending PDF or electronic format invoices via email already. There are no infrastructure costs for suppliers and the service is free for them to use. Adoption rates are high because of the low cost and low impact on Accounts Receivable departments in vendor operations.
“Many companies using SAP ECC 6 struggle with invoice data capture,” said Roger Hatfield, Vice President North America for CloudTrade, “and this technology gives them an opportunity to speed up their invoice data capture, reduce manual errors, and have a seamless onboarding process.”
Invoice OCR is a popular alternative but it has some drawbacks. Invoice data scanned and processed with OCR is subject to error, as the data is “interpreted” from a scanned image. CloudTrade technology extracts the data directly from the electronic document’s data layer, which enables CloudTrade to guarantee a 100% data accuracy rate.
Invoices in electronic formats, such as PDF, carry the invoice data within the PDF itself; the data is secure, embedded in the PDF and 100% accurate. CloudTrade’s patented rules-based technology extracts, validates and augments the invoice data from the data layer into an SAP ECC 6 compliant format and posts it straight into SAP ECC 6 without human touch.
For more information: https://www.cloud-trade.com/en-us/invoice-capture-sap-ecc-6
About CloudTrade Technologies
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 to offer a fresh approach to electronic document processing, CloudTrade’s unique, patented technology, enables companies to evolve past their reliance on paper or labour-intensive manual processing and transact digitally with their trading partners, irrespective of size or technical maturity.
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 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. For further information visit www.cloud-trade.com.
SAP ECC 6 and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE (or an SAP affiliate company) in Germany and other countries. See http://www.sap.com/corporate-en/legal/copyright/index.epx for additional trademark information and notices.
All other product and service names mentioned are the trademarks of their respective companies.
Name: Roger Hatfield
Email: Send Email
Organization: Cloud Trade Inc
Address: 68 Harrison Avenue 6th Floor, Boston, Massachusetts 02111, United States
Release ID: 89046786