Welcome to IDeas D-LITE
A Product of Ideas++ Knowledge Management Pvt Ltd
Automation Solutions For Business Processes
As organizations seek to reduce costs and improve efficiency, paper-intensive processes such as accounts receivable (AR), accounts payable (AP) invoice processing are likely candidates for automation. At many companies, AP and AR processes are still largely manual and paper-intensive.
The need for AP automation continues to open up as companies large and small adopt solutions that eliminate the vast majority of challenges that AP faces in their day-to-day operations and achieve the following:
Invoices are the backbone of your procurement processes and so much more. Digital invoices help your organization streamline processes and meet financial supply chain management goals.
But if your invoice processing system is manual, paper-based, or otherwise inefficient, every other component in the procure-to-pay process will feel the effects. The current scenario is explained in the image to the right.
The need for AP automation continues to open up as companies large and small adopt solutions that eliminate the vast majority of challenges that AP faces in their day-to-day operations, including as outlined in the section below.
The approach we follow for an effective AP automation process is a 4 step as detailed below:
Invoice imaging is often the first step in automating accounts payable. Imaging helps tackle the toughest part of a manual accounts payable process, which is paper. Once a paper invoice is translated into an electronic document, it becomes much easier to manage.
IDEAS D-LITE analysts attribute the steady increase in front-end imaging solutions to improvements in invoice pre-processing and data capture tools. Invoice preprocessing is the methodology for using data capture and pre-defined business rules to allow the majority of invoices to bypass accounts payable.
Data can be captured majorly in two ways: Optical Character Recognition (OCR) - (Subject to possibility) OR Manual Capture.
Our system automatically matches each incoming invoice against the relevant PO and receipt of goods using an algorithm specifically designed by our AP experts. If the invoice matches (within tolerances you specify and manage) the system passes it straight through to your finance system, earning it the nickname of “straight through processing".
Once the invoices are verified by the 3 way matching mechanism by the IDEAS D-lite system, it generates reports automatically and sends it to the ERP client for further processing
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