An intelligence layer for your finance team
Enterprise finance teams rely on a complex web of operating systems – from legacy ERP environments to a patchwork of custom tools and spreadsheets. Data is not “the new oil”, data is everywhere. But having the right data available, at the right time, and knowing what to do with it, is the critical modern-day challenge. The future of finance is harnessing solutions that absorb huge data sets and produce specific, value adding outputs; such as risk identification, process improvement or cost saving.
Be proactive, not reactive
Too much analysis within finance happens after the fact. And for risk identification, that’s too late. When it comes to detecting errors and threats, the future is continuous and real-time. It’s time to move away from manual retrospective analysis towards a proactive, intelligent approach. With Xelix, payables and master data files are continuously audited so that issues can be investigated and corrected before payments leave the business – saving you time and money fixing these issues down the line.
Cut out the noise
Given the complexity, variety and volume of invoice data that large companies process, existing “rules-based” approaches for risk detection are simply inadequate. A high volume of false positives is fundamentally inefficient – requiring teams to waste hours investigating legitimate transactions. The Xelix platform uses a machine-learning based approach, with risk models trained on over 100 million transactions. Our technology breaks down each invoice into 300+ contextual data points and utilises an aggregated model of over 3,000 separate decision trees to make a classification decision for each invoice. The end result is a powerful anomaly detection algorithm that cuts out the noise of false positives and far surpasses human intelligence.