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P2D: Transforming Accounts Payable Processes with Automation

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Robin Colla, CEO, P2DRobin Colla, CEO
In the current marketplace, any business that envisions a future of growth and operational expansion must first get their finances in order. In fact, without a solid accounts payable and receivable process, firms are doomed to run themselves out of resources by overpaying for services acquired and undercharging for the delivery of their offerings. Despite this, a majority of accounts payable (AP) issues are still driven by outdated practices such as paperbased invoice processing, writing checks, and maintaining manual records or one-off spreadsheets. At the same time, slow and inefficient AP processes also cause inaccuracies in financial forecasting while also downgrading customer relationships. As an antidote to this problem, firms started deploying tech-driven AP solutions to enhance their process efficiencies. However, due to the requirement of highly complex and expensive integrations with ERP and other disparate deployments, even organizations that implemented dedicated AP solutions struggle to gain the desired efficiencies. So how can a business maximize the efficiencies of their AP processes in an efficient and affordable manner?

UK-based P2D answers this question with its portfolio of AP automation tools that allow its clients to digitalize and exchange commercial documents such as invoices, purchase orders, and expense claims electronically. The company’s suite comprises e-invoicing, EDI and invoice processing, which is powered by P2D’s proprietary AI, all offered through its modular ‘Pay-for-Usage’ approach that allows businesses of any size to gain the capabilities of a cutting-edge, yet affordable, cloud platform. “We offer our clients the flexibility they need to always stay on top of their AP procedures by automating common business processes with a secure, tax compliant service,” says Robin Colla, CEO at P2D.

The company’s solution supports a multitude of document formats, including computer-generated PDF files, which can be seamlessly shared between buyer and supplier via dedicated web-based portals. Concurrently, client data is run through P2D’s AI-powered optical character recognition (OCR) software that allows the company to boast a 100 percent guarantee of accurate data validation, eliminating the need for manual processes.

P2D has also developed a purchase order (PO) system and PO matching module, the latter of which can be seamlessly integrated with third-party PO systems as well. In addition, P2D offers approvals workflow, automated statement reconciliation, and employee expense claim processing services to help clients gain a holistic understanding of both their internal and external expenses. “All these modules allow us to thoroughly understand the unique needs of our clients and our flexible approach enables to satisfy all of them from both a processing and cost prospective,” adds Colla.

With such strong core competencies, P2D has ignited several success stories since its inception in 2004. In one instance, the company helped a hospitality giant, The Gordon Ramsay group, enhance their AP processes’ efficiencies. Initially, due to an expansive footprint across the globe, the client was struggling to handle the problem of data duplication in their AP processes. With P2D’s portfolio, the customer was able to minimize human error and cut down their invoice volumes, thereby helping them reduce the cost of processing while improving the efficiency of their corporate governance.

  • “We offer our clients the flexibility they need to always stay on top of their AP procedures by automating common business processes with a secure, tax compliant service,” says Robin Colla, CEO at P2D.


Looking ahead, P2D is developing a state-of-the-art MI and analytics service that will enable its clients to analyze payables at specific levels across their operations. In addition, the company has ongoing development programs in the automation of KPIs and the creation of a benchmark that allows users to compare their AP performance against the market. From a collaboration standpoint, P2D is completing APIs for Sage Intacct, NetSuite, and Microsoft products to further boost data transfer across disparate cloud environments. According to Colla, his company is also currently enhancing its data privacy and security capabilities by improving on its existing 24/7 threat detection and DNS firewalls. Lastly, with respect to product releases, P2D is poised to launch its enhanced automated statement matching reconciliation offering that will assist clients in minimizing human intervention, thereby driving time and cost savings.
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Top 10 Accounts Payable Solution Companies - 2021

P2D

Company
P2D

Management
Robin Colla, CEO

Description
UK-based P2D specialises in digitalising and exchanging commercial documents electronically such as invoices, purchase orders and expense claims. The company's suite comprises e-invoicing, EDI and invoice processing, which is powered by P2D's proprietary AI, all offered through its modular 'Pay-for-Usage' approach that allows businesses of any size to gain the capabilities of a cutting-edge, yet affordable, cloud platform. With such strong core competencies, P2D has ignited several success stories since its inception in 2004.