Accounts Payable

Process Direct Pays And Subawards

Accounts Payable

At Ishaan Prem we are focused on effectively automating your company’s procedures for document management, exception resolution, transaction management, elimination of duplication and disbursement-related services, thus transforming your payment actions. We aim to keep you at the forefront of the financial sector.

The Accounts Payable Outsourcing Services are able to give you the benefits of the best technology and expert staff, without the need to invest in them or have the need to buy and then maintain pricey software. We deliver industry best practices such as Sarbanes-Oxley compliance, which reduces discrepancies and increases financial control, therefore leading to better profitability.

Our Accounts Payable Services

Our Accounts Payable Services are used by clients across the world, such as customers in the UK and the USA. With end-to-end solutions including the following:

Data capture: Receipt and organisation of documents pertaining to paper-based payables. Including:

  • Batch preparation
  • Scanning
  • Sorting
  • Audit and reconciliation of scanned invoices
  • Document indexing
  • Receiving and handling incoming mail
  • 100% availability of scanned invoices
  • Document storage and retrieval

Data Processing - Exception Management/Resolution: Resolution and dynamic organisaton of exception transactions. Including:

  • Documented audit trail
  • Shortened month-end closing process
  • Approval and exception routing

Suspect Duplicate Analysis: Audit and control functions to remove the danger of duplicate payments and support retrieval and reclamation by way of:

  • Electronic invoice processing
  • Three-way database matching
  • Manual and automated data entry

Disbursement Services: Every element of the payments in the least possible time to limit customers floating charges:

  • Online check proofing
  • Secured maintenance of check stock
  • Special invoice mail handling
  • Return check handling
  • Electronic payment handling
  • Print and distribution of checks

Our Work Process:

Stage 1 - Invoice Receipt: The fist stage involves receiving the customers hard copy and electronic invoices.

Stage 2 - Image & Data Capture: Every piece of document is stored as images, with all invoice images being viewable.

Stage 3 - Process and Route: The processing of invoice documents, which are then directed to the appropriate customer executives for approval and final resolution.

Stage 4 - Disburse and Archive: Approved invoices are uploaded to the client’s A/P system for payment via standard interfaces across all accounting platforms. Once this is complete, the invoices are then sent to the general ledger and filed as ‘normal’. Since we also perform disbursements, the hard copies are stored at our facility with the electronic images being available online