Automated Remittances
Hyperbots Vendor Management Co-pilot talks to Payment Co-pilot and receives remittance communication with customizable templates, multi-channel delivery, and real-time notifications.
Key Features
Automated remittance generation
Receives the automatically created remittance advice by Payment Co-pilot for each payment, detailing invoices, payment amounts, and payment dates.
Multi-channel delivery
Supports receipt of remittance advice through email, vendor portals, or direct API integrations, accommodating vendor preferences.
Customizable templates
Has the 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.
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 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.
