P2D: Transforming Invoicing through Automation

P2D: Transforming Invoicing through Automation

CIO VendorRobin Colla, CEO
As a company grows in size, its data management becomes all the more complicated. Driving innovation tends to be hindered by the loss of key documents like invoices and order memos. A pioneering Internet-based end-to-end pay-as-you-go solution developed by P2D helps companies maintain electronic records of essential documents. The flexibility of the P2D solution in processing and uploading invoices through any device brings the much-required simplicity to document automation.

“We cater to companies of all sizes across a variety of sectors. We have incorporated advanced technology in our solutions to be used by SMBs in a cost effective manner,” elucidates Robin Colla, CEO, P2D. The e-invoicing solution is tailored by P2D after a careful assessment of a client’s requirements and environment. P2D’s customer-oriented objectives include reducing costs by going paperless along with increasing profitability and amplifying the efficiency of client’s operations, IT optimization through cloud backups, storage and security and providing a paperless environment-friendly solution. P2D’s e-invoicing solution is divided into two parts—invoice automation, which transforms paper/emailed invoices into electronic documents, the intelligent OCR software create highly accurate data. This automation solution extracts data from any supplier invoice, validates the accuracy of the data, and further analyzes it for anomalies based on the historic data of the client. The second aspect is a complete e-invoicing solution that supports uploading additional documents for both the client and its suppliers and a supplier portal. The solution can also be easily integrated with any client’s finance/ERP system and does not require suppliers to change their process of invoicing while shifting to e-invoicing.

We want to provide a solution that clients and suppliers enjoy using, by constantly listening to our clients, we believe we have found that balance. They are the right people to tell us what they need

P2D’s Purchase Receipt matching module assists in increasing the company’s efficiency and saves time and cost by matching the data from any purchase order system to that of the invoices on the basis of certain customized parameters set up on the P2D platform. The module decides which invoices to send to the system and which to refer back to the supply managers. The additional workflow module that sends invoices in expense batches is routed to clients for code verification and approval. The modules can be departmentalized and customized according to clients’ necessities.

In an instance, a global retailer sought to reduce its paper trail and manage its different categories of invoicing of suppliers and market. They required a hybrid solution that would simplify the workload and integrate with the global workflow. P2D catered to this need with its flexible paperless e-invoicing solution that prevented invoice duplication, provided simple accurate reports, coding and re-coding liberty, rectified the manual errors, and helped in identifying fraud on the part of the suppliers. After adopting P2D’s solution, the client was able to save as much as 1.3 million dollars per annum on invoice management and increase its efficiency.

P2D’s suite of paperless solutions is seamless to implement in a client’s environment and its scalability is a testament to the years of research conducted by P2D. Looking to tomorrow, Colla shares that P2D is enhancing its solution with features like documents and task management, purchase order system, invoice photographing application, and dynamic discounting. Having established itself as a renowned solution provider in the UK, P2D has set its sights on creating an impact in the U.S. market. “At the end of the day, we constantly listen to our clients. They are the right people to tell us what they need,” concludes Colla, highlighting the customer-centric nature of P2D.