Downer Selects CloudTrade as part of its Finance Transformation
Syndey and London, December 2017
CloudTrade will help to drive Downer’s finance transformation with CloudTrade’s patented e-invoicing and e-order solution, which is built firmly on the premise that e-invoicing, should be easy to use and non-disruptive.
Downer’s adoption of CloudTrade’s e-invoice processing solution will 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.
Downer is based in Australia and 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.
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.”
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. CloudTrade’s unique technology, delivers services not widely seen in the market, in a cost-effective way. Our software is also protected by lasting patents in Europe, the U.S. and Australia.
“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.”
CloudTrade is one of the fastest growing e-invoice and e-document networks, connecting over 150 organisations to thousands of their trading partners electronically across numerous sectors and regions across the globe.