Palette Group have become CloudTrade’s latest partner in a move that will strengthen Palette’s position as a market leader of AP automation and P2P payment software.
CloudTrade’s patented e-invoicing technology will enable Palette to offer customers a paper-free alternative, meeting a growing demand for high adoption and fast delivery. By further expanding their existing product offering, Palette has ensured that they remain innovative and lead the development of increasingly flexible solutions. With CloudTrade’s supplier adoption rate averaging 90%, Palette expects to see both an increase in new business and additional revenue from current customers
Palette Group, established in 1993, has offices worldwide and a web of clients stretching throughout Europe, America, Asia and Australia. London based CloudTrade was founded in 2010 by a team with over 25 years’ experience in e-invoicing, aiming to remove all barriers to adoption and usage. This 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 leader in advanced information logistics and Echovera, who offer document automation solutions. Richard Manson, Commercial Director of CloudTrade described the latest developments: “CloudTrade has entered a period of exceptional growth, having doubled its revenue continuously for the past 3 years. This new endeavour with Palette is the latest in a series of partnerships for us and it’s great to see our technology continuously complement and enhance existing services and solutions”.
Palette have 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 paper-free option that can accommodate any existing systems. Current economic and environmental factors have increased the desire for the removal of paper in favour of more cost-effective, cutting edge practices. Through this partnership Palette are set to widen their existing customer base and strengthen their position among the competition.