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

"Automates vendor onboarding for consistent, low-effort data verification"

Streamlined vendor onboarding process

Automates the end-to-end vendor onboarding process, reducing manual effort and ensuring consistency in data collection and verification.

"Verifies vendor identity by matching W-9, contracts, and procurement records"

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.

"Validates essential documents like W-9s, contracts, and bank details"

Document validation

Ensures all necessary documents, such as W-9 forms, contracts, and bank account details, are validated for completeness and accuracy.

Provides real-time onboarding status updates to procurement staff, allowing for faster resolution of issues.

Real-time status updates

Provides real-time onboarding status updates to procurement staff, allowing for faster resolution of issues.

"Standardizes vendor data to ensure accuracy and prevent transaction errors"

Vendor information accuracy and consistency

Standardizes and ensures the accuracy of vendor data to prevent errors during future transactions.

"Records all onboarding steps: uploads, validations, and approvals"

Audit trail for onboarding actions

Maintains a detailed record of all onboarding steps, including document uploads, validations, and approvals.

"Syncs verified vendor data with ERP for seamless procurement and finance use"

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?

Why choose hyperbots agentic AI: finance-first, accurate, adaptable AI

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

Designed by CFOs for CFOs

We worked with several CFOs to solve the right problems.

Hear what they have to say!

Designed by CFOs for CFOs

We worked with several CFOs to solve the right problems.

Hear what they have to say!

Ready to take the next steps?

Book a demo with one of our Financial Technology Consultants to get started!

Ready to take the next steps?

Book a demo with one of our Financial Technology Consultants to get started!