CloudTrade Paperless Invoicing, offered by Wolters Kluwer ELM Solutions, allows our clients to automatically process PDF (and other file formats) invoices through either of our Enterprise Legal Management systems – Passport® or TyMetrix® 360° – instead of manually entering them as they do today. The process is simple:
With CloudTrade, clients can opt to have all of their legal spend processed entirely through our solutions to ensure:
- All relevant legal spend data is captured for detailed reporting and analysis
- Attorneys and claims professionals able to review and adjust all invoices prior to payment
- Entire process is precise, fast, and efficient
Capture Detailed Spend Data
When PDF invoices are manually entered into a spend management system for processing, usually only summary information is captured in order to save time. CloudTrade Paperless Invoicing ensures that all of the important line item and expense details are captured via UTBMS codes and included in the LEDES file created from PDF invoices. Once the invoice is in Passport or TyMetrix 360°, the invoice is subject to the client’s automated application of billing rules and guidelines to strictly manage and control legal spend.
Simple to Use and Secure
Neither the client nor the legal services provider need to install any software, significantly change their billing procedures, or dedicate additional resources to take advantage of CloudTrade Paperless Invoicing.
Invoice emails and data are secure. No invoice data is stored by CloudTrade and the file itself is never opened. The service extracts the PDF metadata to create a LEDES file, and that file is submitted to the client’s e-billing system.
Key features of CloudTrade Paperless Invoicing include:
- No software to purchase – Law firms and other legal service providers use their own billing systems to generate PDF files and corporate legal and claims departments use their existing Passport or TyMetrix 360° to process invoices
- Onboarding by Wolters Kluwer and CloudTrade professionals – law firms and other legal services providers are onboarded into the CloudTrade invoicing process by Wolters Kluwer and CloudTrade, requiring no time or effort from our clients
- Individualized templates – CloudTrade creates a custom template for each legal service provider, ensuring invoice header and line item data is appropriately mapped from the PDF to the LEDES format during conversion
- Secure invoicing process – PDF documents are never opened and emails are deleted soon after the associated LEDES file is created and submitted
Passport® Product Collateral