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STATEMENTS

Reconcile supplier statements in record time, without the misery

An end-to-end workflow automating the tedious task of reconciling supplier statements.

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CH&CO drives 90% cost savings with Xelix's Statements module

By bringing supplier statement reconciliations back in-house, the CH&CO team has achieved a 90% cost saving. Due to the speed and coverage of Xelix's platform, they are now reconciling 9x the volume of statements that they were previously outsourcing. Becci Smith, AP & AR Controller at CH&CO shares a little around her experience working with the Xelix team and what the future looks like working together. 

Reconciling statements in Xelix is a breeze

Completing vendor statement reconciliations at scale has always been a major challenge given the manual and time-consuming process. As a result, this task is often de-prioritised or only completed for the largest vendors. However, with Xelix you can fully automate this process and reconcile 100% of vendor statements in no time at all. 

On average, our customers experience a 10x faster reconciliation process, a 25% drop in vendor queries and a much more efficient external audit process - usually completed in less than half the time. 

Why choose Xelix for vendor statement reconciliation

  • From repetition to recognition 👀

    Our customers love doing recs. What used to take hours, takes minutes with Xelix. Get time back to focus on high-impact tasks that support your professional development.

  • Keep your vendors smiling 😊

    Automate statement reminders, auto-reconcile in minutes and keep your vendors up to date in the click of a button. Enjoy a big drop in vendor queries, and easily resolve the few you do get.

  • Boost your bottom line 🚀

    Catch missed credit notes and spot invoice posting errors to protect your cash flow. Save your organisation hundreds of thousands on costly third-party statement audits.

  • Report with 
confidence 📈

    Reconcile 100% of vendor statements and report your payables balances accurately, and on time, each month.

  • Be best-in-class 💪

    Increase payments on time, reduce errors, ensure compliance. Beat the benchmark and showcase your success with real-time performance dashboards.

  • Say goodbye to audit anxiety 👋

    Auditors love Xelix. Our simple interface means your auditors can seamlessly navigate the Xelix platform and access your full audit trail. Leave them to it whilst you get on with the rest of your to-do list.

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Your statement reconciliation workflow with Xelix

Step One

View all inbound statements in your mailbox with Xelix

Our AI scans your inbound emails to determine emails that contain statements, automatically uploading them into Xelix. Alternatively, users can upload statements manually.
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Step Two

Xelix extracts key statement information and automatically reconciles to financial records in your ERP and AP systems

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STEP THREE

Review the results of the reconciliation

As well as providing results, Xelix does the legwork for you when it comes to understanding the discrepancies and investigating the differences.
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STEP FOUR

Share results with your vendors in the click of a button

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STEP FIVE

View real-time analytics in your Xelix dashboard

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What our customers say

AP Manager

Mole Valley Farmers

“Prior to statement recs automation, we were using a very manual process. We had challenges with auditors and the number of audit requests. Automating with Xelix was a game-changer. Since Xelix, our AP audit has been a much shorter process. We give our auditors read-only access to Xelix so can explore the audit trail and find everything they need - our team is absolutely loving it.” 

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Finance Admin Manager

Wilko

“From the first time that we used it, everybody that we showed thought it was absolutely brilliant… One person can get 250 statements recs done in two days. It looks so much more professional when responding to suppliers too. It’s one of those jobs now that everyone can’t wait to do. And everything’s all in one place, it just makes it so much easier.” 

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Director of Payment Operations

Liberty Global (Virgin Media)

“Xelix changed the way our AP team worked. Now, we process almost 20 times the volume of supplier statements. Xelix does lots of the work for us. We’re more proactive with our supplier communications too. Every month, we provide them with the information they need. It’s definitely reducing the number of queries we handle, which is great because this is really distracting for the team.” 

Read the full story

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