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Free Recovery Audit from Xelix: surface unknown 6-figure AP losses in under a week

Prevention is better than cure: why it’s time to replace your AP recovery audit

Here at Xelix we never make a claim that we can’t prove. Our clients typically uncover six-figures in unknown overpayment losses when they implement our software, despite having existing controls in place that should have caught these errors in the first place.

We’ve got every confidence that our invoice intelligence software can do the same for your business too. But we understand you might be cautious. Every product promises amazing results and it can be hard to get internal buy-in for new software systems.

That’s why we’re happy to prove the value of our system with a free, no-obligation Proof-of-Concept exercise using your transactional data. Use Xelix for seven days and we know you’ll love it as much as our customers do. Customers like Euro Car Parts…

Euro Car Parts recover £50,000 after free PoC exercise alone

Euro Car Parts are one very happy client. They’ve prevented £9 million in overpayments from leaving their accounts since implementing Xelix just nine months ago.

But despite their Continuous Development Manager Baz Durrani seeing the potential of Xelix straight away, the board weren’t initially convinced.

He explains:

‘Our project management office said we’d already got duplicate checks in place, so why did we need another? That’s when we carried out a Proof-of-Concept exercise with Xelix. We gave them a sample of our data and they gave us ten potential duplicates that the platform flagged up. Eight of the ten were duplicates, to the value of £50,000. That was enough to win our board over.’

After being wowed by the sample of results, it became clear Xelix was a ‘no-brainer’ for the business. ECP implemented Xelix and unlocked the full POC results. This led to them identifying a further £200,000 that they could recover on the first day of use.

Since then, Euro Car Parts have prevented £9 million from leaving their accounts in error. Xelix hasn’t just saved them money, it’s also slashed the time it takes to check payment and audit data from 2 hours to 10 minutes a day.

Catch the full story here.

Explore our full functionality

Recovery is just one of the reasons our customers love Xelix. As you’ll discover during your Proof-of-Concept exercise, Xelix is a powerful preventative tool.

As part of the PoC, you’ll get a week of all-areas access to explore the software. It integrates easily with all Accounts Payable systems, so you’ll be able to get started straight away.

The Transactions module uses AI and machine Learning to analyse 300 data points per invoice to detect a wide range of threats and errors before the payment leaves your account. This includes: payments to wrong suppliers, duplicate invoices, fraudulent invoices, incorrect sales tax and much more.

While the Reports module provides powerful analytics in areas such as supplier spend, team productivity and payment performance, as well as providing cash flow modelling tools.

And this is all free of charge and without obligation.

‘When we first spoke to Xelix in 2018, we didn’t realise we were facing any issues and decided not to progress conversations. However, when they offered us a free Proof of Concept, it seemed like a no-brainer, so we gave the green light for Xelix to analyse our transaction data. We were so surprised with the results, and it really highlighted how important it was for us to implement a purpose-built solution for detecting risk. We saw the value and decided to onboard Xelix. Since then, the product has gone from strength to strength with lots of new updates providing more and more value each quarter.’

Customer review, March 2021, Financial Services Sector

How the PoC exercise works

The goal of the PoC is to test your controls, showcase how Xelix can supercharge your Accounts Payable process and help you build a strong business case for the software.

It requires very little time from your side and takes under a week for us to complete. Best of all, there is absolutely no financial cost to your business but it could surface unknown losses worth hundreds of thousands.

1.      We’ll sign an NDA so you’re confident there’s no risk to sharing your confidential data with us.

2.      You’ll supply your current vendor file (which we can clean up too) and a simple csv of historic transactions from your ERP system(s).

3.      We’ll run a full audit to identify duplicate invoices, payment errors and master data risks like duplicate or suspicious vendors.

4.      You’ll also get to explore the full Xelix functionality for a week. This includes our brand-new automated supplier statement reconciliation module.

After we’ve run the audit, we’ll let you know how many overpayments we’ve found and what they’re worth.

If you’re impressed by what we find and decide to become a Xelix customer, you’ll receive the full audit, so you can start recovering hundreds of thousands in overpayments straight away.

Surface your unknown losses in under a week

Ready to surface your unknown losses, test your AP processes and identify savings? Book your free PoC exercise with Xelix today.

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