May 2024 Releases

Peakflo has exciting new releases for 2024 May. Take a look at the video or read the full article here:

Accounts Receivable Releases:

Now Account Managers and AM leads can track the customer replies from the Tasks tab to stay on top of customers’ pending queries.

They can view the pending and future tasks, and customer timeline and reply to customers via email, SMS, and WhatsApp within Peakflo. They can also re-assign the task to another user, mark the reply as unread, or skip it.

Account Managers can reply to customer WhatsApp messages after 24hrs from their last reply without abrupting the previous conversation thread.

Accounts Receivable admins can now customize the invoices as per company requirements by creating custom fields for invoices 

Invoice custom field details can be mass-uploaded to Peakflo as well.

Additionally, the custom field data can be visible in the invoice PDF if needed.

Admins can now set rules for invoices based on reference number, currency, or invoice status so that they can modify invoice custom fields, pause or unpause reminders, and set up split payouts.

Now customers in Indonesia who have e-materai enabled in invoicing can prepay the e-materai cost using Peakflo wallet for invoice compliance. 

Now AR managers can add withholding tax (WHT) at the invoice level so that they can generate tax-compliant invoice PDFs effortlessly

Now accounts receivable team can choose which email name will be shown in the automated reminders from Peakflo workflow settings. 

Now users can modify currency for payments and apply exchange rates using Peakflo wallets so that they can facilitate cross-border payments easily.

Accounts Payable Releases:

Based on the company requirements, the accounts payable team can now make multiple file uploads mandatory for bills, receipt notes, PRs, PQs, and POs. 

AP team can make certain file uploads mandatory for the vendors too. When the mandatory attachment is not added the invoice will not be fully approved or issued. Uploaded file details can also be validated. For example, if the vendor uploads a shipping list, it will be scanned through OCR and matched with the invoice for validation when the shipping list is added.

The validated shipping list will be shown as a comment in the timeline so that the AP team does not have to spend time validating the data.

Now finance team can review and approve the changes before any new vendor is created or any vendor detail is updated. This will give higher visibility and control over changes done. This will sync to ERP so that once the details are verified in Peakflo no more manual intervention is required.

Now Accounts Payable teams can invite vendors to Peakflo’s vendor onboarding management through the Vendor Portal.

Vendors can submit and verify their company information including tax details such as GSTIN, PAN, and MSME. The tax number can be customized based on the vendor’s country. GSTIN for India, NPWP for Indonesia, UEN for Singapore. Vendors can also fill out their address details, bank account details, and contact details seamlessly. They can verify their phone numbers via OTP for identification and validation.

AP team can check and validate the vendor details from the Vendors tab in Peakflo. They can view and filter the connection status of vendors to know which vendors to follow up with for onboarding and pending verifications.

AP team can view individual vendors and validate the details. The green tick denotes verified details. Vendor bank account information will be automatically verified using the penny drop process and will be flagged if incorrect to avoid delayed or failed payments.

If vendors make changes to the onboarding form, the AP team can review and approve those changes so that only verified changes are applied as vendor information.

Peakflo can now automatically match the PO details to bills and receipt notes and flag any mismatches to avoid under-deliveries and overpayments to vendors.
After the bill is created and synced to the vendor portal, your vendors will be notified about bill creation, approval, and payment status in the Peakflo Timeline. If the vendor’s WhatsApp notification is enabled, they will get updates in WhatsApp too.

AP teams can now create and share credit notes on behalf of their vendors. The vendor will get a notification to check and approve the details. This enables AP teams to capture vendor approval formally before the bill is paid.

Now vendor portal users can select more than 200 customer POs & RNs so that they can create invoices with 200+ line items in one go. 

Now with Peakflo’s WhatsApp vendor portal, your vendors can easily access a vendor portal through their WhatsApp.

Allow vendors to upload bills to your company to make the process of invoicing much faster and more efficient.

Allow vendors to access and check all the unbilled purchase orders, delivered purchase orders, and their details on WhatsApp.

Allow your vendors to effortlessly check the invoice status without taking a minute from the AP team’s time.

Allow your vendors to get a summary of account PDF for a time frame automatically on WhatsApp so that AP teams can save the time required for generating and sharing SoA with the vendors.

AP teams can share credit notes for your vendors via WhatsApp. Your vendors can check and approve them before the credit note gets applied to a vendor invoice. 

Your vendors can now send invoices against receipt notes through WhatsApp so that you don't have to manually match the bill to the receipt note and PO.

The procurement team can now filter which PQs do not have any PO numbers. This filter will allow them to create or match POs against PQs that do not have any POs associated with them. 

The procurement team can now create bills from approved receipt notes in Peakflo so that after delivery, the procurement team can record and upload the bill immediately without any delay.

Accounts Receivable & Payable Releases:

Peakflo users will be automatically logged out after 20 minutes of inactivity so that security standards are maintained.

Peakflo’s split payout feature allows businesses to automatically split incoming payments from customers and disburse them to different recipients and vendors.

Finance teams can set split payout rules at the invoice level so that they don’t have to manually calculate and create bills when split payout is applicable based on the invoice details.

Once the bill is approved, the split amount is disbursed from Peakflo AP Wallet to the vendor's bank account so that users can save time by eliminating manual payouts.

User can sync back payments made for bills and payments received for invoices from Peakflo to their accounting software so that payments are automatically reconciled under the correct COA/GL code expenses.