Services Received but Not Invoiced
The Co-pilot uses various documentation and confirmation methods, such as service completion reports, timesheets, SLA reports, project management tools, and manager confirmations, to identify services received but not yet invoiced.
Key Features
Service completion reports or milestone certificates
A vendor provides a consulting service that involves multiple deliverables or milestones. The completion of each milestone is documented.
Signed work orders or time sheets
Contractors, freelancers, or professional service firms may submit weekly or monthly time sheets or work logs.
Service Level Agreements (SLAs) and monthly service reports
Ongoing services (e.g., maintenance, security, cleaning) often come with regular service level reports.
Purchase Orders (POs) for services
Some services are contracted via POs that define the scope, timeline, and cost of services.
Project management systems
Larger projects may be tracked in a project management tool that logs the progress and completion status of contracted services.
Expense or budget manager confirmation
Department heads or budget managers who oversee vendor relationships can confirm that certain services were provided.
80%
Accrual processing cost
Co-pilot reports all accrued expenses using AI eliminating the need for manual accruals completely
<5%
Variance in accured Vs actual costs
Co-pilot identifies all expenses comprehensively for all type of scenarios through data using AI.
Human Errors
Accrual reversal
Month end closing pressure
Auditability
VALUE PROPOSITION
Why Hyperbots Accruals Co-Pilot
Hyperbots Accruals Co-pilot automates accrual identification, booking, and reversal processes with high configurability and accuracy, ensuring timely and compliant financial reporting while reducing manual effort and errors.
Why Hyperbots Agentic AI Platform?
Finance specific
Best-in-class accuracy
Synthesis of unstructured and strutured finance data
Pre-trained agents with state of the art models
Company specific inference time learning
FAQs: Services Received but not Invoiced
How does Hyperbots Co-Pilot identify services received but not invoiced (SRNI)?
Can Hyperbots Co-Pilot handle different types of documentation for SRNI accruals?
How does Hyperbots Co-Pilot ensure accuracy when determining the value of SRNI accruals?
Can Hyperbots Co-Pilot incorporate approvals before posting SRNI accruals?
Does Hyperbots Co-Pilot provide transparency into how SRNI accruals were determined?
How does Hyperbots Co-Pilot handle partial service completion scenarios?
What if the final invoice differs from the accrued amount determined by Hyperbots Co-Pilot?
Ready to take the next steps?
Book a demo with one of our Financial Technology Consultants to get started!