Tuesday 27th March, 2018
CloudTrade has been named by BT as the preferred supplier to provide e-invoicing services to Account NI, the finance shared service for the Northern Ireland Government Departments. The service is provided in partnership with BT.
Account NI manages the Accounts Payable process and is responsible for handling over 160,000 supplier invoices per year. Account NI will use CloudTrade’s e-invoicing and e-document processing solution as an integral part of their accounting solution provided by BT.
This will further automate and enhance the AP function and align to the EU Directive (2014/55/EU) on electronic invoicing in public procurement.
Account NI pays over 90% of suppliers within 10 days and this solution will assist in meeting this commitment by reducing the time associated with invoice processing and payment.
John McBurney, Head of Purchasing and Payment Services at Account NI, explains: “We process thousands of invoices every week to local Small and Medium Enterprises (SMEs), many of which prefer to e-mail us invoices generated from their billing systems in PDF format. This new e-invoicing solution converts PDF invoices to an XML file, guaranteeing 100% accuracy in the quality of the invoice data transferred electronically to AP.”
Geraldine McNulty, Business Director at BT explains: "CloudTrade offers an e-invoicing service that removes the barriers typically associated with supplier adoption. Because the process of on-boarding through CloudTrade is relatively straightforward, we are confident that Account NI will achieve extremely high on-boarding rates. We expect to transition 30-35% of invoices to the CloudTrade solution within the first three months."