Accounts Payable Compliance
Meet the newest member of your corporate compliance team!
Our accounts payable compliance technology, powered by Xelix, sits alongside your existing finance systems, acting as an intelligence layer to automate processes, spot payment risks and deliver meaningful insights.
Mix and match modules based on your organisation's needs
Powered by Xelix, our accounts payable compliance platform includes three modules, which can be used in isolation to address a specific compliance need or combined for the ultimate level of automation and intelligence.
It integrates with just about any ERP system including Oracle, SAP, Sage, Microsoft Dynamics and many more! All you need is an export of your daily invoice data to get started.
PROTECT
The Protect modules uses the latest in AI and pattern-based detection to identify hidden threats and errors in your transactional and master data, while minimising false positives.
STATEMENT RECONCILIATION
Fully automates the process of reconciling supplier statements, enabling you to do more recs, more often and in much less time.
INSIGHT
Insight enables you to make quicker, smarter decisions with an intelligent suite of analytics.
Protect
Xelix Protect pulls data from the ERP and P2P tools and performs a real-time audit across 100% of supplier invoices and master data. This means that overpayment and fraud risks can be identified and resolved before the pay run. It's sophisticated machine-learning approach means that the platform is constantly learning, and time isn’t wasted investigating a large number of false positives. Depending on your process, Xelix can be used at various stages of the invoice journey, either before or after invoices have been matched and approved.
THE BENEFITS
-
Protect working capital by preventing incorrect payments
-
Improve control by auditing 100% of supplier invoices
-
Save time by automating manual audits
-
Reduce risk with constant vendor file analysis
-
Gain protection across multiple divisions/systems
-
Easily identify AP processes improvement opportunities
Statement Reconciliation
The process of reconciling supplier statements tends to be heavily manual, inefficient and time consuming. With limited resources and high volumes of invoices, supplier statement reconciliation is often neglected – only performed on a handful of suppliers or done reactively when an account is in dispute.
Manual work is also difficult to track. Therefore, identifying what went wrong in the first place and how to rectify the issue (and potentially adapt your process) is quite the challenge.
Xelix's Statement Reconciliation module, automates the whole process, enabling you to do more recs, more often, in less time without all the errors.
THE BENEFITS
-
Reconcile supplier statements in a timely manner, ensuring an up-to-date ledger so you can report confidently
-
Catch missed credit notes and resolve incorrect payments prior to your pay run
-
Highlight and resolve issues quickly so payments can be made on time
-
Relieve your team of tedious, manual work, allowing them to focus on value-adding tasks
-
Track reconciliation activity without having to trail through emails or rely on the knowledge of various team members
-
Complete more recs, more often and keep suppliers in formed in the click of a button
Insight
Most finance teams simply don’t have access to the data and insights they require. Often data is only accessible by downloading multiple reports and consolidating data in Excel, or submitting a request to the BI team. This is inefficient, and ineffective and impacts decision-making speed. Xelix solves this problem for AP and P2P teams, providing a real-time reporting capability using simple drag-and-drop functionality. The Insight module provides finance teams with a consolidated view of all payables data, giving each user the power of a BI tool with a beautiful, easy-to-use interface.
THE BENEFITS
-
Save time by automating AP reporting
-
Gain real-time visibility over your P2P data
-
Drive process improvement with root-cause analysis
-
Optimise working capital with predictive insights
-
Consolidate AP data from separate systems and entities
-
Identify cost-saving opportunities in your supply chain
See Xelix in action
Want to learn more about Xelix and how it can transform your AP audit processes? Watch these demo videos.
Introducing Xelix
Xelix Protect Module Demo
Xelix Statement Reconciliation Module Demo
Book a free demo today to get started!
See Xelix in action with a short, 30 minutes no obligation demonstration. We can then get you up and running in a matter of days!