Pay Smart, Optimize Cash.
Once invoices are approved, this AI agent automates the scheduling and initiation of payments, optimizing timing based on due dates, early payment discount opportunities, and overall cash flow considerations.
The Problem
Problem Solved:
Manually managing payment schedules for numerous invoices to balance on-time payments, discount capture, and cash flow preservation is complex and labor-intensive. This can lead to missed discounts or suboptimal cash management.
Key Features & Benefits
Key Features & Benefits:
- Timely Payments: Ensures vendors are paid on time, maintaining good relationships.
- Optimized Cash Outflow: Strategically schedules payments to manage liquidity.
- Reduced Manual Payment Runs: Automates the creation and execution of payment batches.
- Discount Capture: Prioritizes payments to capture valuable early payment discounts.
- Integration with Banking Systems: Securely initiates payments through integrated platforms.
How It Works
How It Works:
Utilizing RPA, this agent takes approved invoices and schedules them for payment. Machine Learning (ML) can be used to optimize the payment schedule by considering due dates, available discounts, predicted cash flow, and company payment policies. It then initiates payment batches through integrated banking platforms or ERP payment modules.
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