CloudTrade, the leading provider of cloud based e-invoicing services, was today named as one of IBM’s worldwide e-invoicing partners.

The partnership means that IBM’S Business Process Service (BPS) customers will be able to incorporate CloudTrade’s proprietary e-invoicing software into their solution, significantly reducing their back-office costs and the time associated with handling and processing invoices.

Shelley Davies, Global Offerings Lead - Accounts Payable and Cloud ERPs, says: “E-invoicing is a win-win for our users and their suppliers. Our users benefit from increased visibility, efficiencies and control over invoices, while their suppliers benefit from quicker invoice processing and potentially faster payment and improved cash flow.

“CloudTrade’s offer is unique in that it offers unprecedented accuracy and it is extremely simple to use, which helps drive high adoption rates amongst suppliers. That means my team can maximise the opportunities to automate and ultimately boost the savings our end-users see when they use our ERP platform.”

CloudTrade’s e-invoicing solution integrates seamlessly with all enterprise resource planning (ERP) platforms, and ensures 100% accurate data is uploaded into a system within minutes of a supplier submitting an invoice. Ensuring users see back office savings in the region of 60% and supplier adoption rates of over 80-90%.

CloudTrade is one of the world’s fastest growing e-invoice and e-document networks, connecting hundreds of global organisations to thousands of their trading partners electronically across numerous sectors and regions.

Richard Manson, co-founder and Commercial Director of CloudTrade, says: “When you’re doing business internationally and interacting with thousands of suppliers every day, your P2P process and ERP systems rely on accurate data to be highly efficient, easy to use and, most importantly operate on a global scale.

“Our solution solves a problem which has plagued e-invoicing and EDI projects for decades: namely how to encourage as many suppliers as possible to move away from paper and onto electronic document submission methods. Because CloudTrade is incredibly cost effective and easy to use, we enable IBM’s customers to maximise efficiencies and transform their back-office functions.”