CloudTrade announces 50 percent increase in revenue

Monday 28 November 2016 10:29 CET | News

E-invoice network CloudTrade has announced that transaction volumes – that is, the number of e-invoices and other documents being processed – more than doubled from 2015-16, and revenue has increased 50% year on year.

What`s more, CloudTrade forecasts another 50% increase to March 2017.

In this period CloudTrade has grown the business through new partners, including IBM and Hewlett Packard Enterprise, and from an increase in projects through existing partners. This corresponds to a 20% increase in partners, and a 30% increase in end-customers using the service.

As planned for 2016 CloudTrade is launching exciting new products, including Cloud Capture which processes customers’ ‘long tail’ suppliers using machine learning algorithms. The main objective of Cloud Capture is to allow our customers to on-board suppliers, not typically addressed by more traditional e-invoicing service providers.

For more information about CloudTrade, please check out a detailed profile of this company in our dedicated, industry-specific online companies database.

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Keywords: CloudTrade, e-invoice, transactions, revenue, UK
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech