P2D is a unique business services company specializing in document solutions
that turn ‘paper to data’.
It was established as a direct consequence of the fast-changing regulations and
corporate attitudes towards electronic document management and electronic
trading that have taken place with the advent of the 21st century.
The European Union, for example, estimates that every invoice received costs
nearly £1 in data entry costs alone, with a total processing cost typically of
£2 to £6, and in some cases considerably more. A recent report by
PricewaterhouseCoopers stated that companies could increase their net profit by
up to 4% by adopting electronic invoicing. Indeed, the EU has now passed
legislation that is set to have a dramatic effect on the use of e-invoicing.
From 2004, it will no longer be necessary to store a paper invoice in the
country where the transaction took place. This legislation was passed with the
deliberate intention of persuading companies to invoice electronically.
The P2D Document Network, a global e-trading hub based in Virginia, allows
members to freely exchange documents, such as invoices and orders, whether in
electronic or paper form. P2D’s philosophy is to provide state-of-the-art
document solutions at an affordable price to large, medium, and small-sized
companies alike, via its economies of scale.
P2D outperforms the market on both price and performance. Its solutions are
flexible and configurable – we provide not only the sending and receiving of
documents but automation of any associated process that the client may require,
from document imaging, approvals workflows and matching, through to full
e-procurement. Indeed, for most companies, such change needs to be managed in
controlled increments. P2D acknowledges this, and provides solutions that scale
according to its clients’ timescales and budgets. Gone are the days where
companies need to buy ERP-based procurement modules that cost millions and take
years to implement, and then only ever use a fraction of the functionality.
P2D’s solutions are developed outside client’s firewalls, sending data securely
and directly into their systems – it is outsourced data capture at its most
sophisticated.
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