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Embedding AI into all finance functions

Our AI Assistants provide 80% productivity gain in finance operations like Accounts Payable, Expense Processing and Accounts Receivable by eliminating all repetitive and mundane tasks. They are catalysts to CFOs’ strategic objectives like cashflow optimization and better financial control.
AP-AI Assistant
Existing Accounts Payable process
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  • Accountant(s) receive 100s of invoices every day
  • They open emails and read the emails
  • They open the invoices one by one, open each PO, open each delivery receipt and read all of them
  • They do a 3-way matching
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  • They accept or reject invoices
  • They communicate with CFOs
  • They make general ledger updates
  • They initiate payment
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  • They carry out tasks for capitalization, accruals and amortization
  • They also create expense reports from time to time
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  • They communicate with vendors and internal stakeholders to resolve discrepancies
AP-AI Assistant
Existing Accounts Payable process for an accountant
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  • Accountant(s) receive 100s of invoices every day
  • They open emails and read the emails
  • They open the invoices one by one, open each PO, open each delivery receipt and read all of them
  • They do a 3-way matching
Problems we are solving
AP pain points
1

Invoice matching with purchase orders and delivery notes takes lots of human effort, and in some cases leads to human errors

2

Invoice data entry to downstream ERP systems is effort-intensive, also error-prone

3

Capitalization, accrual and amortization tasks are tedious and manual. These are very often not accurate

4

Invoices have missing taxes, or tax computations are incorrect

5

Invoices are duplicates and partial or do not match with purchase order and delivery note

6

Lack of financial control in the absence of prediction of expenses, KPI monitoring, cash-outflow optimization, discount-based cash outflow savings

Accounts Payable process with Hyperbots AI Assistant
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Hyperbots AI Assistant does all the tasks that accountant does with human in the loop approach.
Benefits
  1. 80%+  in-process cost optimization
  2. Upto 10% cash outflow reduction due to early payment discounting
  3. Improved vendor satisfaction
  4. Improved auditability of books with improved capitalization and accruals
  5. Higher control on cash outflow
EP-AI Assistant
Existing Expense Processing (EP) process
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  • Employees have to keep bills, track soft and hard copies of bills, have to prepare the claim manually
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  • Accountant(s) receive 100s of claims every week
  • They open the claims one by one on the HR portal or email, open each proof and open policy if needed
  • They read all of them
  • They do 3-way matching
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  • They accept or reject claims
  • They communicate with CFOs
  • They make general ledger updates
  • They initiate payment
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  • They carry out tasks for capitalization and accruals
  • They also create expense reports from time to time
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  • They communicate with employees and managers to resolve discrepancies
EP-AI Assistant
Existing Expense Processing journey of an accountant
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  • Employees have to keep bills, track soft and hard copies of bills, have to prepare the claim manually
Problems we are solving
EP pain points
1

Too much back & forth between finance managers (clerks) and employees due to claims not being supported by proofs

2

The repeat claims, wrong claims, and delayed claims result in overspending by the company 

3

The delayed claims processing (often 1-2 months) due to errors and mismatches with policy result in employee dissatisfaction

4

The employees lose bills and have to spend lots of time filing claim forms, adding attachments, reading policy and following up against their claims

5

Undesired cost on finance human resources doing mundane tasks of claims processing

6

The claims are beyond prescribed limits and require human validation

7

Slip-through of wrong claims or over claims is high in the absence of robust fraud detection techniques

Expense Processing with Hyperbots AI Assistant
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Hyperbots AI Assistant does all the tasks that accountants and employees do with human in the loop approach.
Benefits
  1. 80%+  in-process cost optimization
  2. Upto 10% cash outflow reduction due to overspending elimination
  3. Improved employee satisfaction
  4. Improved auditability of entries with improved capitalization and accruals
  5. Higher control on cash outflow
AR-AI Assistant
Existing Accounts Receivables (AR) process
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  • Accountant(s) update customer PO information into ERP
  • They open PO, confirm delivery of goods/service and generate invoice
  • They create an email for the customer, send the invoice and follow up
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  • They make general ledger updates and reconcile payments against invoices
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  • They have to create DSO and cash inflow reports from time to time
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  • They escalate non-payments internally and externally
  • They process refunds on partial and defective delivery
AR-AI Assistant
Existing Accounts Receivables process for an accountant
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  • Accountant(s) update customer PO information into ERP
  • They open PO, confirm delivery of goods/service and generate invoice
  • They create an email for the customer, send the invoice and follow up
Problems we are solving
AR pain points
1

Higher DSO days due to delayed invoice generation or lack of customer follow-ups

2

More discrepancies or customer disputes due to defective product/service being invoiced, duplicate invoicing or POs not matching with the invoices

3

Lack of coordination between sales, finance, and customer success teams on DSO tracking & customer follow-ups results in bad debts and higher DSOs

4

General ledger updates on invoice generation, payment receipts, refunds and reconciliations are manual and time-consuming

5

Escalation management of higher DSOs or non-payments is inefficient

6

Report generation actions are all manual and dependent on skilled technical people

7

Defining and implementing invoice tracking policy with milestones-based timely communications to customers is either ad-hoc or does not exist

8

Invoicing based on various contract terms and company payment norms is time-consuming and frequently leads to delays or errors

9

Processing refunds is delayed and results in customer dissatisfaction

Accounts Receivables process with Hyperbots AI Assistant
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Bot
Hyperbots AI Assistant does all the tasks that accountants and employees do with human in the loop approach.
Benefits
  1. 80%+  in-process cost optimization
  2. DSO reduction by 20% - 50%
  3. Improved customer satisfaction
  4. Improved auditability of entries
  5. Higher control on cash outflow
  6. Improved satisfaction of sales and customer success teams
The best
AI for finance
Our mission is to free up humans from mundane and repetitive finance tasks with top-notch AI.