Payment Approvals
Hyperbots Payment Co-pilot streamlines payment approvals with configurable workflows, partial approvals, and real-time cash status visibility, ensuring flexibility and informed decisions.
Key Features
Separation of payment and invoice approvals
Payment approvals are treated distinctly from invoice approvals, typically involving senior finance executives or higher authorities.
Configurable approval workflows
Hyperbots Co-pilots allow payment approval workflows to be defined and customized based on organizational structures or business units
Partial approvals for flexibility
The co-pilot supports partial payment approvals, enabling selective approval of specific payments within a batch.
Triggering ERP payment runs post-approval
Payment files or runs in the ERP can only be initiated after all necessary approvals are completed, ensuring compliance and accuracy.
Real-time cash status visibility
The co-pilot provides approvers with a real-time view of cash balances and liquidity in accounts to aid decision-making.
Granular role-based access
Only authorized personnel with specific roles in the workflow can view, approve, or trigger payments, ensuring security and accountability.
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: Payment Approvals
How are payment approvals handled differently from invoice approvals?Can payment approval workflows be customized? Copy
Payment approvals are distinct from invoice approvals and typically involve senior finance executives or higher authorities, ensuring added oversight and compliance.
Can payment approval workflows be customized?
Yes, Hyperbots Co-pilots allow configurable workflows tailored to organizational structures or business units, ensuring alignment with specific departmental needs.
Does the Co-pilot support partial payment approvals?
Absolutely, the Co-pilot enables partial payment approvals, allowing approvers to prioritize critical payments while deferring others based on cash flow or business needs.
When are ERP payment runs triggered in the workflow?
ERP payment runs are initiated only after all required approvals are completed, ensuring compliance and accuracy in the payment process.
How does the Co-pilot assist in decision-making during approvals?
It provides real-time visibility into cash balances and liquidity, enabling approvers to make informed decisions that align with current financial conditions.
Is access to payment approvals restricted to authorized personnel?
Yes, the Co-pilot uses granular role-based access control, ensuring only authorized personnel can view, approve, or trigger payments, maintaining security and accountability.
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!
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