Fully automate statement reconciliations with Xelix

An end-to-end agentic workflow automating the tedious task of reconciling supplier statements. Regardless of size or format, Xelix reconciles statements in seconds.

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Reconcile 80%+ of your spend
Enjoy 95% less manual effort
Find £2.5M in missed credits for every £1B of spend
Cut 25% of vendor queries

Reconcile the majority of your spend, with minimal effort

Xelix fully automates the statement reconciliation process, keeping your suppliers in the loop and your financial records accurate.

Step one

Receive statements from suppliers

Xelix asks your vendor base for statements and sends regular reminders to those who still haven’t shared a statement, based on your preferred cadence.

On average, we increase statements received by 300%.

Step two

Read and understand statements

Xelix can read and extract statements directly from your inbox or you can drag and drop into the Xelix platform. Using Large Language Models, Xelix understands the format of any statement and standardises the output in seconds.

Step three

Reconcile statements to your records

Xelix extracts key statement information and automatically reconciles to financial records in your ERP/AP systems, highlighting matches, discrepancies and missing invoices/credits.

Step four

Share reconciliation results

Xelix creates an internal and external reconciliation summary. Use the internal summary to investigate discrepancies and send the external summary to your suppliers in the click of a button.

Step five

Track and report on reconciliation activity

Xelix provides a full audit trail of all reconciliation activity, strengthening internal controls and driving process improvement. Use our interactive dashboards to set goals and track reconciliation activity against targets.

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Why use Xelix to automate supplier statement reconciliation?

Save up to 0.25% of annual spend

Capture missing credits and overpayments that would otherwise be missed.
Save time and automate tedious tasks 

Drive efficiency by spending less time managing statements, responding to vendor queries and clearing GRNI balances.
Report accurate financial data

Reconcile a high percentage of vendors to ensure accurate and reliable financial records.
Improve vendor relationships 

Proactively resolve discrepancies and catch missing invoices before they become late payments. Reduce escalations and risk of being put on hold.
Strengthen compliance and control

Boost key internal controls that support SOX compliance and strengthen readiness for internal and external audits.
See a much happier team 

Focus your team on more interesting, high impact work.

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What you can achieve with Xelix in 90 days

By day 30

Get started
- Connect Xelix to your ERP, AP systems and email inbox
- Train and onboard all users (unlimited users at no extra cost)
- Identify your KPIs and create custom reporting dashboards with your dedicated Customer Success Manager
By day 60

Drive change
- Initiate historic statements audit - request statements from the majority of your vendor base
- Reconcile your target number of vendors and spend, 10x faster
By day 90

See results
- Clear GRNI balances
- Increase statements received by 300%
- Expand coverage and reconcile 80%+ of spend
- See Xelix ROI through recovered credit notes and payment error savings
- Complete first Business Review with your Customer Success Manager to reflect on Xelix value, results and experience

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FAQs about automated statement reconciliation

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: Xelix’s processing power is unmatched. Xelix can process statements in various formats and doc types, such as Excel or PDF.

Our AI recognises these as statements, extracts the key information, and reformats it for easy reconciliation. You can upload statements directly into the platform or connect your inbox, enabling Xelix to automatically detect and process statements sent by email.

Our tool is built to handle large statements quickly and accurately - many customers have chosen Xelix after trying other solutions because of its unbeaten ability to reconcile large statements.
: Many companies don’t regularly reconcile their vendor accounts, but doing so can uncover significant savings. A key benefit is identifying unallocated credits - by proactively requesting and reconciling statements, companies often find substantial outstanding credits that can be applied, resulting in tangible cost savings. On average, Xelix uncovers £2.5M in missing credits for every £1B of spend.

Additionally, automating the statement reconciliation process drastically reduces internal resource cost, delivering a strong return on investment.
: We’ve designed Xelix to not require any change management for your suppliers. We recognise that altering supplier processes can be challenging, so our solution integrates seamlessly with your existing communication channels. Suppliers can submit statements via the same inbox or tools they already use, or your team can simply drag and drop statements into our system.

We set up automated, proactive reminders to encourage timely statement submissions. Within six months, we anticipate a 300% increase in the number of statements received. Suppliers will quickly see the benefits of regular statement reconciliations, leading to improved communication, efficiency and relationships.
: Xelix offers a ‘Vendor Insights’ feature showing how often your highest-spending vendors send statements and how frequently they’re reconciled.

You can filter for key vendors with open invoices and bulk send statement request emails when statements are missing. Once received, Xelix automatically processes them using intelligent matching technology.

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

The CH&CO team is now reconciling 9x the volume of statements than they were previously and paying 90% less to run this process. Becci Smith, AP & AR Controller at CH&CO shares a little around her experience working with the Xelix team.