Reconciling Check Payments with Agentic AI
Automates check matching, tracks presentation status, and links invoices to improve reconciliation accuracy and visibility into cash outflows.
Key Features
Check status monitoring
Tracks issued checks, whether cleared, presented, or pending, through bank feeds or manual updates.
Invoice and check matching
Links checks to the right invoices to ensure accurate allocation and smooth reconciliation.
Anomaly detection
Flags issues like mismatched amounts, duplicate checks, or unknown entries in bank statements for quick review.
Stop payment integration
Integrates with stop payment workflows to halt specific checks and manage reissuance when necessary.
Detailed audit trails
Tracks all check-related actions, issuance, status changes, and invoice matches in a clear, searchable log.
Customizable matching rules
Lets teams set reconciliation rules based on company policies, including amount tolerances and matching criteria.
KEY BENEFITS
Payment Co-Pilot boosts cash flow by timing payments for discounts, routes approvals automatically for same-day releases, supports ACH, checks, and wire transfers with a full audit trail—delivering accurate, secure payments and tighter spend control.
10%
Cash outflow
Co-pilot optimizes payment timings and methods, analyzing 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
Before and After Hyperbots Payments Co-Pilot
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.
FAQs: Check Reconciliation
How does the Co-pilot monitor the status of issued checks?
The Co-pilot tracks the status of issued checks, such as presented, cleared, or pending, by integrating with bank feeds or using manual updates, ensuring transparency in payment processes.
Can the Co-pilot match checks to corresponding invoices?
Yes, it matches checks to invoices for accurate allocation and reconciliation, supporting scenarios like linking a single check to multiple invoices or handling partial payments.
How does the Co-pilot handle anomalies in check transactions?
It flags discrepancies, such as mismatched amounts, duplicate entries, or unrecognized checks in bank statements, alerting the finance team for further review.
Does the Co-pilot integrate with stop payment processes?
Yes, it supports stop payment integration, allowing users to halt specific checks and manage reissuance in cases of loss or fraud.
Can check matching rules be customized?
Yes, the Co-pilot allows configuration of reconciliation rules, including tolerances for matching amounts, ensuring alignment with company-specific policies.
Ready to take the next steps?
Book a demo with one of our Financial Technology Consultants to get started!