Check Reconciliation
Hyperbots Payment Co-pilot streamlines the reconciliation of checks, their presentation status, and associated invoices with real-time updates, anomaly detection, and customizable matching rules.
Key Features
Check status monitoring
Tracks the status of issued checks, such as presented, cleared, or pending, by integrating with bank feeds or manual updates.
Invoice and check matching
Matches checks to corresponding invoices to ensure accurate allocation and payment reconciliation.
Anomaly detection
Flags discrepancies such as mismatched amounts, duplicate check entries, or unrecognized checks in bank statements.
Stop payment integration
Supports integration with stop payment processes, allowing users to halt specific checks and manage reissuance if needed.
Detailed audit trails
Maintains comprehensive logs of all check-related actions, including issuance, status updates, and invoice matches.
Customizable matching rules
Allows configuration of reconciliation rules to align with company-specific policies, including tolerances for matching amounts.
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: Check Reconciliation
How does the Co-pilot monitor the status of issued checks?
Can the Co-pilot match checks to corresponding invoices?
How does the Co-pilot handle anomalies in check transactions?
Does the Co-pilot integrate with stop payment processes?
Can check matching rules be customized?
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
Ready to take the next steps?
Book a demo with one of our Financial Technology Consultants to get started!