CloudTrade's e-invoicing and e-document solution to help community of leading lawyers drive back office savings and boost efficiency
NEW YORK, 10 May 2017
CloudTrade, the leading provider of cloud based e-invoicing and e-document processing services, today announced that its e-invoicing solution has been selected by Lawyers Mutual to help drive efficiency across its mutual professional liability insurance business.
Automation will substantially reduce administration costs
CloudTrade has been selected as part of Lawyers Mutual’s ongoing transformation of its back-office functions and will substantially reduce administration costs and time associated with printing, postage, data entry and claim handling by helping fully automate Lawyers Mutual’s claims processes.
Camille Stell, Vice President of Client Services for Lawyers Mutual, says: “CloudTrade’s e-invoicing solution for paperless invoicing will enable Lawyers Mutual’s administrative team to gain greater financial control and will increase our ability to process claims, while handling all expenses quickly and efficiently.”
Lawyers Mutual has been providing continuous financial protection from professional liability to its stable of over 7,500 lawyers since its inception in 1977.
Simple, cloud-based and cost e-ffective
Roger Hatfield, CloudTrade’s VP for North America, says: “CloudTrade offers businesses in the legal sector, who rely on manual data entry for their invoices and claims, a simple, cloud-based and cost-effective solution that is easy to integrate into their back offices systems and that compliments their existing manual or automated workflow management processes.”
CloudTrade’s e-invoicing solution will integrate directly into Insurance System Inc’s ISI Enterprise - a fully-integrated browser-based insurance policy administration software solution.
Read the article here on E-invoicing Platform.
How CloudTrade’s e-invoicing solution works
PDF invoices are sent to a designated email address are automatically detached via the hosted cloud service which extracts all of the claim number and invoice data. This data is then validated against open claims before being converted into an e-invoice that eFinancials can interpret and validate before processing payment. No manual intervention is required for this process.
Original PDF invoices will be stored by Lawyers Mutual in ISI Enterprise which links to the relevant transaction records in the invoice register. This ensures quick and secure online access to images without the need to handle paper.
Find out why accepting pdf invoices supports a successful e-invoicing system: