Welcome to IDeas D-LITE

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• Late Payments
• Missed Discounts
• Long invoice processing cycles
• Lack of visibility
• High discrepancies
• Lost or missing invoices
• Audit related requirements

STAGE 1 - INVOICE IMAGING

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.

 

STAGE 2 - DATA CAPTURE

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.

 

STAGE 3 - AUTO MATCHING AND CONTROL CHECK

Automatic three-way matching

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".

 

SAMPLE CONTROL MATRIX [based on detailed system study]

   

STAGE 4 - INVOICE DATA INTERFACED WITH ERP

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

 

Benefits for our clients

• Improve payment processing time.
• Manage cash flow better when processing supplier Invoices
• Take advantage of supplier discounts for on-time payments
• Single point of entry for accessing all AP information and status
• Seamless integration with existing ERP systems
• Audit trail of all invoice processes to ensure legislative compliance

System Features

• Captures invoices from multiple channels,
• Creates and stores electronic images of those invoices,
• Extracts information from images to populate invoice fields
• In-built Control checks
• Three Way Matching of Invoices with Purchase Order
• Integrate the results into ERP
• MIS Reports and Dashboards
• Automatic Email and SMS alerts.

Why Choose Us?

• Organization with young and budding leaders with extensive knowledge and rich hands-on experience.
• having worked with Global Financial and IT Consulting Firms and dealt with large scale clientele across industries over 15 years.
• Expertise in Information Systems Audit and other Internal Controls.
• Prior Successful Implementations of IDEAS D-lite with other multinational corporate clients.
• 4+ Years of practical imaging experience with multi nationals.
• Dedicated business and finance professional consultants’ who provide accounting, tax, regulatory and legal inputs.
• Single point of entry for accessing all AP information and status
• Reports generated by IDEAS D-lite system are robust and seek to meet the management’s needs.
• Audit trail of all invoice processes to ensure legislative compliance
• All solutions are tailored to your organization’s needs, ensuring continuous process improvements.
• Our solutions are delivered in SaaS form – we keep your budgets in mind.

Industries Catered

• Steel Industry - Assisted an Indian conglomerate in automating their accounts payable process.
• Automobile Industry
  • Assisted a subsidiary of a German based multinational in automating their accounts payable process. We have now achieved automated payment processing of approximately 5,000 invoices per day, with adequate internal controls
  • Assisted a subsidiary of a Japan based multinational (listed in Japan) who are world’s leading manufacturers of automotive parts in automating their business processes like Inventory Valuation, Scrap management etc.