Reconciliation of Bank Statements
Hyperbots Payment Co-pilot automates the reconciliation of invoices with bank transactions, using Al for intelligent matching, anomaly detection, and real-time updates to ERP systems.
Key Features
Automated invoice matching
The co-pilot automatically matches invoices with corresponding payment transactions in bank statements, reducing manual effort.
Intelligent reference matching
Uses AI to match transaction references, such as invoice numbers, vendor names, or payment IDs, even with slight discrepancies.
Partial and multi-invoice payments
Supports reconciliation of partial payments or single payments covering multiple invoices, ensuring accurate allocation.
Anomaly detections
Identifies mismatches or discrepancies between invoices and bank transactions, flagging them for review.
Customizable reconciliation rules
Allows configuration of matching rules based on company policies, such as thresholds for tolerances or specific fields to prioritize.
Comprehensive audit trails
Maintains detailed logs of all payment actions, including user interactions and system actions, ensuring traceability and compliance.
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: Reconciliation of Bank Statements
Does the Co-pilot support reconciliation for partial or multi-invoice payments?
How does the Co-pilot automate invoice matching with bank transactions?
Can the Co-pilot handle discrepancies in transaction references?
How does the Co-pilot detect anomalies during reconciliation?
Can reconciliation rules be customized to suit company policies?
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!