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Downer partners with CloudTrade for e-invoice processing

Thursday 14th December 2017

Australian owned company Downer has named CloudTrade as preferred e-document supplier, as part of its Finance Transformation.

Downer’s adoption of CloudTrade’s e-invoice processing solution will help substantially reduce the time associated with invoice capturing and validation, lower administration costs and drive efficiencies across the Group, by automating its accounts payable processes.

Micha Veen, an Operational Innovation specialist and Downer’s P2P Lead for Group Finance Transformation, explains: “Following the CloudTrade implementation, Downer’s suppliers can submit their PDF invoices to Downer in an easy and non-disruptive way, supporting Downer’s vision towards a best in class Procure to Pay.”

Downer employs over 56,000 people across more than 300 sites, primarily in Australia and New Zealand. Downer’s shared service division manages the Group’s accounts payable processes and is responsible for processing over 600,000 purchase orders and invoices per year.

David Cocks, CloudTrade’s co- founder and CEO, says: "CloudTrade enables companies, like Downer, to evolve past their reliance on paper and trade electronically with their suppliers, irrespective of size or technical maturity."

He added, "CloudTrade offers an e-invoicing service that removes the barriers typically associated with supplier adoption. Because the process of on-boarding through CloudTrade is so simple, Downer is set to achieve more effective invoice on-boarding rates and can get their suppliers up and running within days, something no other e-invoicing solution can do."