You only need to look at the uptake of robotic vacuum cleaners, smart hubs and smart lights, to realise that products that automate our day-to-day tasks are the way of the future, freeing up our valuable time for more meaningful activities. Now imagine if you could apply the same principal to your day-to-day finance processes – processes such as statement reconciliation and finding potential transaction errors that have traditionally been tedious manual tasks?
Thanks to our new landmark agreement with global SaaS company, Xelix, this is now a reality with their world leading accounts payable and auditing software now added to our extensive suite of Compliance Technologies. The exclusive agreement means Profectus is now the exclusive reseller of the Xelix software in ANZ.
Designed to sit alongside and integrate seamlessly with your existing finance systems, Xelix acts as an intelligence layer that automates processes, spots payment risks, and delivers meaningful insights. It uses the latest in Artificial Intelligence (AI) and pattern-based detection to identify hidden threats and errors in your transactional and master data, while minimising false positives. In addition, its statement reconciliation module fully automates the process of reconciling supplier statements, enabling you to do more recs, more often and in much less time.
From automating reconciliations and identifying transactional irregularities such as supplier overcharges or instances of non-claims on rebates both historically and in real-time, the Xelix software can then also enable you to recoup valuable costs from supplies and vendors.
“The Xelix offering ensures you can not only identify discrepancies faster, but also automate the process, so your finance team is then free to do more high-value work,” said Chris Hutchins, CEO, Profectus Group.
And unlike many of the compliance technologies we’ve offered historically, Xelix is a compliance software solution that’s scalable to medium-sized businesses across a variety of sectors.
“We’ve historically helped clients at the enterprise level, as auditing takes significant amount of time and resources to undertake,” said Hutchins. “The ROI for us and our clients was only realised when working with large-scale and complex businesses.
“Yet we acknowledge that issues of financial erosion are not limited to the big end of town; small and medium-sized businesses face the same issues of overcharging or under-claiming, which is why we’re so excited to now add Xelix to our list of services. Xelix’s real-time analysis of transactions means the audit side is no longer as intensive and it ensures that we can deliver the same level of analysis and expertise normally reserved for big businesses to mid-tier organisations, which to date have been underserved on this front.”
Get started in a matter of days
Perhaps even more exciting for medium-sized businesses is that fact that the Xelix software requires very little on-boarding, allowing clients to get started within a matter of days. Integrating seamlessly with all major ERP and accounting systems, it only requires a daily transfer of invoice data to Xelix’s cloud-based environment via a scheduled CSV export or pre-built API connectors.
“The implementation is really straight forward and can be done quickly, with minimal technical support,” explains Hutchins. “This is great for businesses of all sizes as it means you can go live quickly and easily with minimal effort or time commitment on your behalf.”
“We also offer a free no-obligation demonstration of the platform, which allows you to see Xelix in action and ask any further questions you may have, allowing you to essentially ‘try before you buy’ and have full peace of mind when it comes to implementation.”
To book a free, non-obligation demo or learn more about the Xelix offering and how it can benefit your business, visit: https://www.profectusgroup.com/xelix