Automated Acceptance and Rejection of Invoices
Hyperbots Vendor Management Co-pilot integrates with the Invoice Processing Co-pilot to deliver real-time notifications to vendors about invoice corrections and rejections.
Key Features
Seamless integration with invoice processing co-pilot
The vendor management co-pilot communicates with the invoice processing co-pilot via the Hyperbots Agentic AI platform to synchronize invoice status updates. Example: Notifications about invoice corrections or rejections are automatically fetched from the invoice processing copilot.
Real-Time Notification Delivery
Sends real-time notifications to vendor users regarding any corrections or rejections of their submitted invoices, ensuring prompt communication. Example: A vendor is notified immediately if an invoice is rejected due to a mismatch with the PO.
Detailed Notification Content
Provides vendors with detailed reasons for corrections or rejections, such as missing fields, mismatches, or compliance issues. Example: A notification specifies that the invoice total does not match the PO due to tax discrepancies.
Actionable Insights for Vendors
Includes actionable recommendations for vendors to rectify issues, ensuring faster resolution and resubmission. Example: suggesting that the vendor update the invoice date to match the PO shipment date.
Consolidated View for Vendor Users
Offers a centralized dashboard for vendors to view all notifications related to invoice corrections and rejections, along with their current statuses. Example: Vendors can see a list of rejected invoices, reasons, and pending actions required for resolution.
Audit Trail for Notifications
Maintains a comprehensive record of all notifications sent to vendors, including timestamps and details, ensuring accountability and transparency. Example: Logs show when a vendor was notified about an incorrect tax amount and when they acknowledged the issue. These features enhance vendor communication, reduce invoice processing delays, and ensure efficient resolution of issues through a collaborative approach.
Spend optimization due to vendor rationalization
Co-pilot helps in spend reduction by consolidating suppliers, enabling bulk discounts, reducing administrative costs and improving procurement efficiency
Vendor onboarding effort
AI-enabled automation in vendor information capture and W-9 form verification significantly reduces vendor onboarding time by streamlining data entry, ensuring compliance, and minimizing manual errors.
Realtime status update
A vendor portal benefits vendors by providing real-time visibility into purchase orders, invoice processing, and payment statuses, enhancing transparency and trust
VALUE PROPOSITION
Why Hyperbots Vendor Management Co-Pilot?
Hyperbots Vendor Management Co-pilot streamlines vendor onboarding, identity verification, and collaboration while automating tasks like data uploads and real-time communication, ensuring efficiency, compliance, and transparency in vendor relationships.
Before and After Hyperbots Vendor Management Co-Pilot
FAQs: Automated Acceptance and Rejection of Invoices
How does the Vendor Management Co-pilot notify vendors about invoice corrections or rejections?
It communicates with the Invoice Processing Co-pilot via the Agentic AI platform to send real-time notifications to vendors, detailing the reasons for corrections or rejections.
What kind of details are included in the notifications sent to vendors?
Notifications include detailed reasons for invoice corrections or rejections, such as missing fields, mismatches with POs, or compliance issues.
Can vendors view all notifications in one place?
Yes, vendors can access a centralized dashboard to view all notifications related to invoice corrections and rejections, along with their current statuses.
Are vendors provided with suggestions to fix rejected invoices?
Yes, the Co-pilot provides actionable insights and recommendations for vendors to rectify issues and resubmit invoices quickly.
Does the Co-pilot maintain a record of all notifications sent to vendors?
Absolutely, it maintains a detailed audit trail of all notifications, including timestamps and acknowledgment statuses, for transparency and accountability.
How quickly are vendors notified about issues with their invoices?
Vendors are notified in real-time as soon as the Invoice Processing Co-pilot detects a correction or rejection issue, ensuring prompt communication and resolution.
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.
