B2B Payments

CloudTrade Pushes eProcurement For APAC Hospitality

Electronic invoicing company CloudTrade is promoting digitization within the hospitality industry’s procurement space and has tapped procure-to-pay company Marketboomer to help.

An announcement Monday (Aug. 28) revealed news that CloudTrade and Marketboomer are teaming up, with the two integrating their solutions via API.

“CloudTrade’s integration to Marketboomer’s API provides a simple way for suppliers, who don’t have the technical resources to connect directly to our API to move to paperless invoicing,” explained procure-to-pay company Marketboomer CEO Nathan Gyaneshwar in a statement. “For hotels, that results in quicker processing, eliminates manual entries and the associated errors and eliminates all paper from the invoicing process.”

He added that for hotels using Marketboomer’s purchasing platform, Purchase Plus, the partnership means enhanced purchase order and invoice management capabilities to and from their suppliers.

The companies added that their collaboration means reduced administrative costs for members of the hospitality sector and automated processes, including data entry and accounts payable.

CloudTrade offers an eInvoicing service that removes the barriers typically associated with supplier adoption. We can mop up those suppliers who are not in a position to do the technical development in order to connect direct to Marketboomer’s API,” said CloudTrade Co-Founder and Commercial Director Richard Manson in another statement. “Because the process of onboarding through CloudTrade is so simple, we achieve extremely high onboarding rates and can get suppliers up and running within minutes, something no other eInvoicing solution can do.”

CloudTrade supports eInvoicing in multiple formats, noting that PDF is the most common way for suppliers to send bills. The company can automatically capture data from those PDFs, it noted.

Other financial service providers have similarly taken a focus to eProcurement for the hospitality industry.

Earlier this year, Centreviews and SpendBridge launched a partnership that sees Centreviews providing automated workflow and payments capabilities integrated into SpendBridge’s eProcurement and eSourcing tool for the industry.

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