Hyperbots Payment Co-Pilot: Automate, Optimize & Own Your P2P Process

Jace:
Well, I'll kick things off. Thanks, Mike, for joining us today. I’ll start with a quick introduction. My name is Jace, and I’m an Account Executive here at Hyperbots. I’ve been in the Software-as-a-Service (SaaS) space, selling to CFOs for about six years now, with a focus on financial and accounting automation.

With me on this call today is CFO Mike Vaishnav, who has extensive experience with global, diverse manufacturing, technology, and services companies, as well as public accounting.

Today’s discussion will be a deeper dive into Hyperbot’s Procure-to-Pay (P2P) tool, specifically the Hyperbots Payment Co-Pilot. Without further ado, let’s dive into how Mike has used Hyperbots and the areas where it has been most helpful.

Automating Payment Recommendations and Approvals with Hyperbots AI Engine

Jace: First question for you, Mike, is based on how manual payments run slow and are error-prone. What is the core promise of the Payment Co-pilot that you’ve seen fulfilled?

Mike Vaishnav:
We use the Hyperbots batch flight with an AI engine. It helps us recommend, approve, and execute payments and reconcile them in real time. The best part is the efficiency it brings; real-time payments help us gain early payment discounts and save time and money on fees.

Dynamic Invoice Timing and Discount Optimization

Jace:
That's awesome to hear. How does the Co-pilot decide when to pay each invoice you receive?

Mike:
Great question. The timing is determined by an AI algorithm that weighs the discount value, cost of capital, vendor criticality, and cash flow forecasts. It decides whether to pay the invoice now to get a discount, pay on the due date, or hold off due to ongoing discussions with the vendor. Once configured, the system makes these decisions dynamically. Many systems today rely on static settings like “Pay on due date” or “Pay on discount,” but Hyperbot’s Co-pilot adapts in real time.

Jace:
So it allows for more customization around when payments happen, which can increase cashback and early payment discounts, right?

Mike:
Exactly. It's customizable based on the client’s requirements. You don’t have to do extra programming work each time you want to change something.

Real-Time Liquidity Decisions Based on Treasury Forecasts

Jace:
Very flexible, then. Speaking of discounts, especially important when cash is tight, how does the model account for liquidity?

Mike:
It pulls inputs from the treasury or cash forecasts. Based on the bank's position, it assesses whether to borrow money to take the discount or delay payment. It calculates the cost of capital and compares it to the value of the discount. Unlike some legacy tools that ignore the cost of capital, Hyperbots gives you a well-rounded analysis to make the best decision.

Fast, Secure Approval Workflows

Jace:
That’s awesome. Can you walk me through the actual approval workflow process you’re using today?

Mike:
You can customize the workflow based on amount, vendor, or category. Approval requests can be pushed to Slack, Teams, or other platforms. Executives can approve with one tap, even using Face ID on their phones, instead of logging into the ERP system. It’s very dynamic and can be tailored without compromising security.

Multi-Rail Payment Support: ACH, Wires, Cards

Jace:
So you can approve wherever you are, whatever’s most convenient. Multiple payment rails usually add complexity. Which ones are built into the Hyperbots solution?

Mike:
It supports multiple rails: ACH, same-day ACH, checks, wire transfers, virtual cards, and SEPA for European payments. A single payment can be executed using a mix of these rails, automatically configured for each vendor.

Jace:
Does it generate the bank files or use APIs?

Mike:
Yes, it can do both. It generates bank files or calls APIs. The Co-pilot can generate NACHA files, ISO 20022 files, or positive pay files. Everything is automated, no need to manually upload files to the bank.

Built-In Fraud Detection and ACH Verification

Jace:
That’s common in a lot of systems today. Let’s talk about fraud detection, which is obviously a big concern. What defenses are built into the Hyperbots solution?

Mike:
The tool is well-designed to detect fraud. It checks for duplicate payments, changes in bank account details, and compares new ACH data. It flags anything unusual such as new vendor bank details before the bank has to alert you. Unlike older systems that rely solely on positive pay, Hyperbots’ fraud detection works in real time.

Daily Payment Reconciliation Through Bank Feeds & Matching

Jace:
That’s great. What does the reconciliation process look like today?

Mike:
The Co-pilot listens to bank acknowledgements or CAMT.053 statements and match them with the bank data. It clears the voucher and posts the cash book entry in real time. You can reconcile daily instead of waiting days for bank statements.

ERP Compatibility with SAP, NetSuite, and On-Premise Systems

Jace:
That’s a big improvement. We run payments from SAP and NetSuite; does the Co-Pilot cover both?

Mike:
Yes, it works with both. It pulls vouchers from the ERP system, applies the payment policy, and posts everything back into the ledger. It can also be configured for other systems, not just SAP or NetSuite.

Jace:
How does single sign-on work for finance teams using multiple ERPs?

Mike:
You log in once using AD (Active Directory). The Co-pilot routes the user token to access SAP or NetSuite invisibly, so you don’t have to juggle multiple logins or passwords.

Jace:
That’s very convenient. 

Custom Approval Rules And Vendor Visibility

Jace:
Can business units have different approval rules?

Mike:
Absolutely. You can set different approval rules based on business units. One unit can have two levels of approval, while another may have different rules. It's all configurable based on the company’s policies and thresholds.

Jace:
Vendors are always asking, “Where’s my money?” How does Hyperbots co-pilot improve visibility for them?

Mike:
There’s a vendor portal where they can view invoices, POs, and payment status in real time. They don’t need to call AP anymore, it reduces frustration and improves communication.

Partial, Split & Multi-Currency Payments

Jace:
That's great. How about partial or split payments for retention or disputes?

Mike:
The Co-pilot supports partial payments. It tracks the residual amount and schedules the next payment automatically. If there's a dispute or short quantity, you can hold off on part of the payment and track everything in the system; no need for spreadsheets.

Jace:
What about multi-currency payments?

Mike:
Multi-currency has always been a challenge, especially without a sophisticated ERP system. Hyperbots solves this by feeding FX tables from the ERP into payment decisions, posting, and revaluation. Month-end cut-off time is cut in half because everything is automatically revalued.

Jace:
Cutting prep time is a big value add. How are exceptions handled?

Mike:
Any exceptions are tagged in real time and sent as alerts via mobile or Teams. You don’t have to wait for an email or hear about it days later. It’s immediate.

Complete Audit Trail for External Auditors & Compliance

Jace:
What kind of audit evidence can be given to external auditors?

Mike:
Auditors receive the entire payment lifecycle, including every recommendation, approval, file hash, bank response, and reconciliation. This gives them confidence that the system works and that there are no audit issues.

Jace:
We occasionally need manual ad-hoc wire payments. Is that possible?

Mike:
Absolutely. You can enter a one-time payment into the UI. The same approval and fraud checks are applied, and the system reconciles it automatically.

Payment Algorithm & Posting

Jace:
How quickly did the early pay algorithm deliver value?

Mike:
Immediately, in the first month. Discounts that were previously missed were now captured. The model works instantly without parameter tuning and can be configured for millions of suppliers.

Jace:
How does Hyperbots handle on-prem ERP payment posting?

Mike:
It uses an outbound tunnel and doesn’t require inbound firewall changes. Payments are posted instantly using native APIs. Unlike some competitors that require CSV uploads, this system handles both on-prem and cloud-based systems efficiently.

Why Hyperbots Payment Co-Pilot Outperforms Traditional AP Automation

Jace:
My last question is about Hyperbot’s Payment Co-Pilot vs. typical AP automation. What’s the difference?

Mike:
The Co-pilot is automated with a robust audit trail. It executes, reconciles, decides, and audits payments while improving operational and financial efficiency. It helps avoid late fees, improves vendor relationships, and optimizes cash flow. While other tools exist, Hyperbots stands out with its speed and overall process efficiency.

Jace:
Awesome. That was my last question. Thanks again for joining us, Mike. Looking forward to speaking again soon.

Mike:
Sure, absolutely. Thank you.