Managing your master vendor file with Xelix is pain-free
For most companies, managing master data tends to be a reactive and manual process. Often it falls in the cracks between finance and procurement, without clear ownership. To reduce the risk of payment errors and fraudulent activity, it’s vital that master data is monitored regularly and kept up to date.
Xelix scans your vendor file every day to provide an intelligent, easy-to-use tool for proactive management of your master vendor file.
Why choose Xelix for master vendor data management?
Bolster your fraud controls 🕵️
Your master vendor file is the dream destination for fraudsters. Get alerts when changes are made to vendor records - such as bank account changes or newly added vendors - so you can stop unauthorised activity in the moment.
Stop incorrect payments ⚠️
A common cause for duplicate or incorrect payments is a messy master vendor file. Streamline your vendor database for more efficient management by identifying and cleansing duplicate, incomplete and inactive vendors.
Be proactive and take ownership ✌️
For many companies, managing master vendor data is a heavily manual process that falls somewhere between finance and procurement. To avoid it slipping through the cracks, Xelix scans your master vendor file every day to identify new risks and opportunities, enabling quick and easy management of your data.
Partner with safe suppliers 🤝
It’s a wild world out there. Verify your vendors against various exclusion and sanction lists to ensure you’re doing business with trusted and reliable partners.
Energy Transfer and Xelix
Energy Transfer is one of North America’s largest midstream energy companies. With an appetite for acquisition, master vendor data management became quite the task for their Accounts Payable team. Catch Jeff Santos, Accounts Payable Analyst at Energy Transfer, on stage in Vegas, discussing how Xelix has helped the team gain back control over their ever-growing vendor database.
What our customers say
Director, Business Process Owner AP/ T&E
“During COVID, our team were adding new vendors every day. Xelix’s Vendors modules has helped us go back and clean up our Master Vendor File and be more disciplined going forwards”
Continuous Improvement Manager
Euro Car Parts
“The Master Data cleansing tool helps eliminate non-value adding exercises by identifying exceptions (i.e. duplicate vendors) and therefore reducing the volume of false positives and time spent investigating these, meaning the team can concentrate on more value-adding tasks like root cause analysis.”
ELFS Shared Services [NHS]
“There was much bias towards our (at the time) provider because, it did the job. And moving to a new product is always risky. But Xelix really worked hard with us. First, they provided a test system, free of charge. We put our real data into this, comparing results with the existing platform. Xelix was clearly surfacing more accurate results. This helped us justify our move to the board.”