Xelix

52 reviews

Xelix acts as the ‚úeyes and ears‚ù to finance - using machine learning & predictive analytics to surface disbursement threats in real time & stop problems before they happen.

Xelix Protect

0 reviews

Surface overpayments, invoice errors, and risks in real time

Xelix Statement Reconciliations

0 reviews

Xelix Statement Reconciliations is an AI-powered solution designed to fully automate the supplier statement reconciliation process, transforming a traditionally manual and time-consuming task into a swift and efficient operation. By seamlessly integrating with existing ERP and AP systems, Xelix enables organizations to reconcile a high volume of supplier statements in seconds, regardless of their size or format. This automation not only enhances financial accuracy but also significantly reduces manual effort, allowing finance teams to focus on more strategic activities. Key Features and Functionality: - Automated Statement Collection: Xelix proactively requests statements from suppliers and sends regular reminders to those who haven't provided them, increasing the number of statements received by up to 300%. - Intelligent Data Extraction: Utilizing advanced AI and Large Language Models, Xelix reads and extracts data from statements directly from your inbox or through a simple drag-and-drop interface, standardizing outputs in seconds. - Automated Reconciliation: The system matches extracted statement data against financial records in ERP/AP systems, highlighting matches, discrepancies, and missing invoices or credits. - Comprehensive Reporting: Xelix generates detailed internal and external reconciliation summaries, facilitating quick investigation of discrepancies and efficient communication with suppliers. - Audit Trail and Analytics: The platform provides a full audit trail of all reconciliation activities and offers interactive dashboards to set goals and track performance against targets. Primary Value and Problem Solved: Xelix Statement Reconciliations addresses the inefficiencies and risks associated with manual supplier statement reconciliation processes. By automating this workflow, organizations can: - Achieve Significant Time Savings: Reduce manual effort by up to 95%, enabling finance teams to reconcile more statements more frequently. - Enhance Financial Accuracy: Identify and recover missed credits and overpayments, with potential savings of £2.5 million for every £1 billion of spend. - Improve Supplier Relationships: Proactively resolve discrepancies and catch missing invoices before they lead to late payments, reducing vendor queries by 25%. - Strengthen Compliance and Control: Maintain accurate financial records and boost internal controls, supporting compliance requirements and audit readiness. By implementing Xelix Statement Reconciliations, organizations can transform their accounts payable processes, achieving greater efficiency, accuracy, and control over their financial operations.