Robin Colla, CEO
An efficient accounts payable department is essential to maintain smooth cash flow. Improper management of invoice processing can lead to jeopardized supplier relationships, late payments, and several other consequences. In their quest to improve AP processes, companies often have to partner with different vendors to assist them in varying functions like transitioning to paperless systems, updating data into ERP systems, and reconciliation, to name a few. This may result in organizations getting tangled in a web of multiple partners and incurring huge costs. With future proof yet affordable, cutting-edge AP solutions, P2D is changing the face of accounts payable in organizations. “Powered by AI, P2D offers a comprehensive solution comprising modules for different invoice processing functionalities that cater to the needs of today and tomorrow,” says Robin Colla, CEO of P2D.
Through years of investment in artificial intelligence for invoice processing, P2D has created a combined solution that includes e-invoicing, EDI, invoice automation, and a range of intelligent Purchase-to-Pay modules to cater to businesses of any size. The offerings do not end there. P2D expands its solutions portfolio to fit in customer requirements and offers additions like purchase order systems, modules for matching purchase orders to invoices, and processing employee expense claims, workflows for invoice approval, and the recently popular, automated statement reconciliation on request. The solution automatically reconciles the invoices and statements together and saves employees from time-consuming, mundane processes, allowing them to focus on more relevant tasks.
A notable feature of P2D is its flexibility, which results from its modular format and its capacity to integrate with any financial or ERP systems. “We can transition to any system seamlessly—covering the full spectrum from SAP to Sage 50, and customers love the levels of support that we offer,” says Colla.
The company is working with clients to gradually transition from paper to electronic files, emails, and PDF invoices.
P2D offers a complete guarantee on its invoice processing service and the accuracy of data extracted irrespective of the source. Colla recollects an instance where a restaurant chain with numerous restaurants under its command had employees to double-check processed invoices despite using a competitive product to do the same. Dissatisfied with the whole process, the client approached P2D, who offered a demonstration of their solution, guaranteeing a 100 percent accuracy in its processes. Impressed, the client signed with P2D and currently deploys its cloud-based purchase order system along with the PO flip, matching, and statement reconciliation modules. P2D’s offerings deliver substantial cost savings, are flexible, and help clients achieve unprecedented efficiency levels.
Another integral element of P2D’s e-invoicing platform is its Supplier Portal, which allows suppliers to upload their invoices and supporting documents into the system. Both buyers and suppliers can track the status of invoices, be it old or new, along with informative notes such as whether the invoice is approved or rejected, due or paid, these facilities also reduce query handling for both buyers and suppliers. Being a cloud-based solution, P2D has the highest levels of security in place.
Upon partnering with a client,P2D understands the client’s specifications and obtains supplier information to ensure the authenticity of buyer-supplier relationships and the client’s finance systems.The implementation is a simple straightforward process, which takes anywhere between a week to a few months depending on the size and complexity of the client’s AP process.
In the journey to offer better benefits to clients, the company has recently enhanced its processing capabilities and its PO module for line-level matching of invoices. P2D has also put in place a service for customer switching, where it will work toward ensuring a seamless change process for clientsfrom either manual processes or from competitive solutions. Through continued innovation in AI, the company is also looking at a deeper analysis of invoices to detect duplication, fraud, and overbilling to protect clients from risks. “Irrespective of the size of the organization or industry, our intelligent and robust solution delivers top-notch benefits to customers who have the desire to change,” concludes Colla.