Automated Remittances
Hyperbots Payment Co-pilot creates remittance communication with customizable templates, multi-channel delivery, and real-time notifications.
Key Features
Automated remittance generation
Generates remittance advice for each payment, detailing invoices, payment amounts, and payment dates.
Multi-channel delivery
Supports creation of remittance advice through email, vendor portals, or direct API integrations, accommodating vendor preferences.
Customizable templates
Has ability to customize remittance templates to align with company branding or vendor-specific requirements.
Real-time notifications
Notifies vendors of payment processing with attached remittance advice, ensuring transparency and reducing follow-ups.
Error detection and resending
Identifies failed remittance deliveries and facilitates quick corrections and re-sending of notifications.
Audit trail for communication
Maintains a detailed record of all remittance communications, including timestamps, delivery methods, and vendor acknowledgments.
10%
Cash outflow
Co-pilot optimizes payment timings and methods, analysing
payment terms, discounts, penalties and, cost of capital
Vendor satisfaction
Vendors have higher satisfaction as they know real-time status of invoice processing and payments
Auditability
Human Errors
Approvals
Reconciliations & Other KPIs
VALUE PROPOSITION
Why Hyperbots Payments
Co-Pilot?
Hyperbots Payments Co-pilot automates payment processing with features like timing recommendations, approval workflows, and multi-method support (ACH, checks, wire transfers), ensuring secure, efficient, and compliant financial operations.
Before and After Hyperbots Payments Co-Pilot
FAQs: Automated Remittances
When does a vendor receive a remittance communication?
Vendors receive remittance communication as soon as the payment is processed, providing real-time updates on payment details.
What details does the remittance communication include?
Remittance communication includes details such as invoice numbers, payment amounts, payment dates, and any applicable references or notes.
Can vendors seek clarification on remittance, and does the Co-pilot provide answers?
Yes, vendors can query remittance details through the vendor portal, and the Co-pilot provides automated or guided responses for clarifications.
Will a single remittance include combined notes for multiple invoice payments?
Yes, the Co-pilot can generate a consolidated remittance for multiple invoices in a single payment, ensuring clarity and reducing communication overhead.
Can remittance communication be customized for each company?
Absolutely, companies can customize remittance templates to include specific branding, fields, or details relevant to their processes.
What channels are possible for receiving remittance communication?
Remittance communication can be sent through multiple channels, including email, vendor portals, or direct API integrations, based on vendor preferences.
Why Hyperbots Agentic AI Platform?
Finance specific
Hyperbots Agentic AI platform specializes exclusively in finance and accounting intelligence, leveraging millions of data points from invoices, statements, contracts, and other financial documents. No other platform has such large pretrained models on F&A data.
Best-in-class accuracy
Hyperbots achieves 99.8% accuracy in converting unstructured data to structured fields through a multimodal MOE model integrating LLMs, VLMs, and layout models. With contextual validation and augmentations, the platform ensures 100% accuracy for deployed agents.
Synthesis of unstructured and strutured finance data
Hyperbots agents emulate finance professionals to autonomously perform F&A tasks by reading and writing data like COA, expenses, and vendor masters from core accounting systems and integrating it with unstructured data from financial documents such as invoices, POs, and contracts.
Pre-trained agents with state of the art models
Hyperbots' Agentic platform, pre-trained on millions of financial documents like invoices, bills, statements, and contracts, ensures seamless integration, high accuracy, and adaptability to any accounting content, form, layout, or size from day one.
Company specific inference time learning
Hyperbots' Agentic platform employs state-of-the-art Auto ML pipelines with techniques like reinforcement learning to enable inference-time learning for tasks such as GL recommendation and cash outflow forecasting, ensuring continuous improvement and adaptability.
Ready to take the next steps?
Book a demo with one of our Financial Technology Consultants to get started!