The company was founded as a 2004 British start-up providing white label e-commerce for leading household names. Today, it’s a global powerhouse. They also support other major businesses known worldwide.

“We’re global – from the USA to Australia. Eight years ago, I came into a business of 500 people. Today, it’s 12,500!"

They unintentionally discovered Xelix’s Statements module, Senior Manager recalled:

“We were looking for a new duplicate invoice checking tool when we stumbled across Xelix. Then I discovered Xelix had a Statements module and asked for a demo.”

She had good reason to light up at the thought of more efficient statement reconciliation. The company was on its second system, and it fell short.

She explained: “It wasn’t automated. For example, we weren’t automatically firing over a fresh ledger every morning. Worse still, we could only have one feed into it. Because of our rapid expansion and diversity, we needed at least two – Sage and our own system. Statement format was also a headache. The system only accepted Excel and most of our suppliers provided PDFs. They could be converted at additional cost, but the system provider wasn’t keen to develop a workaround for us.”

After seeing Xelix in action, she was keen to invest. But she had to overcome an internal protocol first. The company will not invest in alternative software if they can write it themselves.

“I almost jumped through fire to bring Xelix in. We needed it now. And whilst our tech team could create statement matching software, it would potentially be in a couple of years given, their focus right now,” she explained.

And so, they chose Xelix. Set-up was straightforward and fast. “It was easy, just easy,”.

After two months of Xelix statement reconciliation, there were many efficiency gains at the said company. Whilst the volume of reconciliations more than doubled, further benefits were evident.

Before Xelix, we only managed to reconcile 400 statements a month. Having used Xelix for two months, we’d reconciled 1,849 statements.That’s over 900 a month – more than double"

“Previously, we targeted each team member to reconcile 80 statements per month. Now, we’ve increased their targets to 160. As a result, every supplier can be reconciled quarterly,” said Senior Finance Controls and Governance Manager.

While impressive figures in isolation, she went on to explain the wider benefits of using Xelix for statement reconciliation.

“Increased visibility of our data enables us to be proactive instead of reactive. We can identify missing invoices and process them quickly, instead of reacting when the supplier is chasing us.

We can prevent issues becoming a recurrent problem, draining everyone's time. Fundamentally, we're more efficient and getting more value from every person."

She explained how Xelix meant better relations with external auditors and suppliers: “Our external auditors often have specific requests. Such as a report on the top 20 suppliers by value at a specific time. Previously, we collated this information manually and it would be time-consuming. But now, Xelix quickly does it for us.

As for our suppliers, they’re getting the attention they want from our company. They now appreciate how important our statement reconciliation is and how it can help us both become more efficient.”

For those in the company using Xelix every day, senior finance manager sees a further benefit: “Our Procure-to-Pay team hated the previous statement reconciliation software. Many would have rather done a tick and bash exercise than upload a statement into it. But with Xelix, it’s a different story. They love its usability and ease of use. We know getting buy-in from the team is crucial.”