Vendor Onboarding
Hyperbots Vendor Management Co-pilot automates vendor onboarding by verifying identity through two-way or three-way matching with W-9, contracts, and system records.
Key Features
Streamlined vendor onboarding process
Automates the end-to-end vendor onboarding process, reducing manual effort and ensuring consistency in data collection and verification.
Automated identity verification
Verifies vendor identity through two-way or three-way matching between the W-9 form, contract, and vendor records entered by procurement staff.
Document validation
Ensures all necessary documents, such as W-9 forms, contracts, and bank account details, are validated for completeness and accuracy.
Real-time status updates
Provides real-time onboarding status updates to procurement staff, allowing for faster resolution of issues.
Vendor information accuracy and consistency
Standardizes and ensures the accuracy of vendor data to prevent errors during future transactions.
Audit trail for onboarding actions
Maintains a detailed record of all onboarding steps, including document uploads, validations, and approvals.
Integration with ERP systems
Synchronizes verified vendor data with the ERP system, ensuring seamless use of vendor information across procurement and finance processes as needed
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: Vendor On-boarding
How does the Co-pilot automate the vendor onboarding process?
How does the Co-pilot verify vendor identity?
Can the Co-pilot handle incomplete or incorrect vendor documents?
How does the Co-pilot keep procurement staff updated during onboarding?
Does the Co-pilot integrate with ERP systems for vendor data management?
How does the Co-pilot ensure transparency and compliance in onboarding?
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
