PO Closure
The PR/PO Co-Pilot collaborates with the Invoice Processing Co-Pilot to manage PO closure efficiently.
Key Features
Automated PO closure validation
The co-pilot tracks invoiced quantities and amounts against the corresponding Purchase Order (PO) details. After every invoice is matched, it checks if the PO can be fully closed based on the matched data.
Real-time invoice tracking
The co-pilot continuously updates the status of invoiced quantities and amounts, ensuring real-time tracking of remaining PO items. This ensures precise closure decisions and prevents premature closure.
Multi-invoice handling
For POs requiring multiple invoices, the co-pilot holds off closure until the final invoice is processed. Closure is initiated only when all invoiced items match the PO details, ensuring accuracy and completeness.
Manual closure option
Organizations can manually close POs prematurely if needed. This option requires due approvals, ensuring compliance with organizational policies and maintaining control over early closures.
Integration with invoice processing co-pilot
Seamlessly collaborates with the Invoice Processing Co-Pilot during the matching process, ensuring that closure decisions are based on accurate and validated invoice data.
Transparent notifications and reports
The co-pilot provides automated notifications and detailed reports on closure status, including reasons for closure or pending items, keeping stakeholders informed and maintaining transparency.
80%
PO creation & dispatch time
Converts approved PR into PO automatically based on the company's templates. It can send POs automatically to vendors based on configurations.
5min
PR creation time
Co-pilot auto-fills most of the complex forms in ERPs and procurement systems by reducing the effort to 5 minutes
Auditability
Human Errors
Approvals
PO Closing & Other KPIs
VALUE PROPOSITION
Why Hyperbots Procurement
Co-Pilot?
Hyperbots PR/PO Co-pilot automates purchase requisition and order processes, including PR creation, approval workflows, and PO dispatch, ensuring efficiency, compliance, and seamless integration with ERP systems.
Before and After Hyperbots PR/PO Co-Pilot
FAQs: PO Closure
How is a One-Off PO closed by the Co-Pilot?
How is a Blanket PO closed by the Co-Pilot?
Does PO closure happen after invoice processing or payment completion?
What is partial PO closure?
How do you manually close a PO?
What communication happens on PO closure?
What happens to long-pending POs?
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!