Automated Remittances
Hyperbots Vendor Management Co-pilot talks to Payment Co-pilot and receives remittance communication with customizable templates, multi-channel delivery, and real-time notifications.
Key Features
Automated remittance generation
Receives the automatically created remittance advice by Payment Co-pilot for each payment, detailing invoices, payment amounts, and payment dates.
Multi-channel delivery
Supports receipt of remittance advice through email, vendor portals, or direct API integrations, accommodating vendor preferences.
Customizable templates
Has the ability to customize remittance templates to align with company branding or vendor-specific requirements.
Real-time notifications
Notifies vendors of payment processing with attached remittance advice, ensuring transparency and reducing follow-ups.
Error detection and resending
Identifies failed remittance deliveries and facilitates quick corrections and re-sending of notifications.
Audit trail for communication
Maintains a detailed record of all remittance communications, including timestamps, delivery methods, and vendor acknowledgments.
Spend optimization due to vendor rationalization
Co-pilot helps in spend reduction by consolidating suppliers, enabling bulk discounts, reducing administrative costs and improving procurement efficiency
Vendor onboarding effort
AI-enabled automation in vendor information capture and W-9 form verification significantly reduces vendor onboarding time by streamlining data entry, ensuring compliance, and minimizing manual errors.
Realtime status update
A vendor portal benefits vendors by providing real-time visibility into purchase orders, invoice processing, and payment statuses, enhancing transparency and trust
VALUE PROPOSITION
Why Hyperbots Vendor Management Co-Pilot?
Hyperbots Vendor Management Co-pilot streamlines vendor onboarding, identity verification, and collaboration while automating tasks like data uploads and real-time communication, ensuring efficiency, compliance, and transparency in vendor relationships.
Before and After Hyperbots Vendor Management Co-Pilot
FAQs: Automated Remittances
When does a vendor receive a remittance communication?
What details does the remittance communication include?
Can vendors seek clarification on remittance, and does the Co-pilot provide answers?
Will a single remittance include combined notes for multiple invoice payments?
Can remittance communication be customized for each company?
What channels are possible for receiving remittance communication?
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
