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What is Extend AI Copilot?

Extend AI Copilot is an accounts receivable (AR) automation platform designed to facilitate the management of AR by implementing artificial intelligence. This system is engineered to enhance collections, minimize bad debt, and expedite the resolution of disputes. It interconnects finance, accounts receivable, sales, and customer support teams, ensuring issues and disputes are efficiently resolved to positively impact cash flow. Its function is rooted in the collaborative framework of communication, which is central to its technology.

"Extend AI Copilot is a proactive Accounts Receivable AI that predicts risks, accelerates collections, and improves cash flow."

Key Features

• Automated Collections: The platform includes AI-driven workflows that organize collection tasks based on risk, amount, and urgency.
• ERP Integration: Native integration with ERP/CRM systems allows seamless data synchronization to avoid manual errors.
• Dispute Management: Features real-time dispute tracking and customizable dispute resolution workflows.
• AI-Powered Cash Application: Uses API technology to automate cash posting and updates invoice payment matching in ERP systems.
• Invoice Factoring: It facilitates immediate cash flow enhancement by allowing businesses to sell their unpaid invoices to financial partners.
• Predictive Analytics: Tools that provide insights into buyer behavior to assist in accurate cash flow forecasting.

Functionality and Integration

Extend AI Copilot boosts the efficiency of AR processes by automatically fetching and matching invoices with payments via native integration with various ERP/CRM platforms. This eliminates manual tasks related to billing issues and payment updates.

"Automatically fetch and match invoices with native ERP/CRM integration. Resolve billing issues and update payments without manual effort."

By leveraging AI and machine learning, Extend AI Copilot improves cash application by predicting payment risks, identifying collection opportunities, and optimizing cash flow. This technology is ERP agnostic, suggesting it can blend with a variety of ERP/accounting systems such as QuickBooks, Xero, Netsuite, Sage, and Microsoft Dynamics 365.

In addition to streamlining payment reconciliation, the system also aids in managing payment advices by automating follow-ups and extracting payment-related information, which enhances the communication and record-keeping process. With automated reminders across various communication channels and a prioritized worklist, the system ensures a structured approach to collections and dispute resolutions.