The Reconciliation Problem
The process of reconciling supplier statements tends to be heavily manual, inefficient and time consuming. With limited resources and high volumes of invoices, supplier statement reconciliation is often neglected – only performed on a handful of suppliers or done reactively when an account is in dispute.
What’s more, manual reconciliation is prone to human error, resulting in things like incorrect payments which ultimately create more work for your AP team.
Manual work is also difficult to track. Therefore, identifying what went wrong in the first place and how to rectify the issue (and potentially adapt your process) is quite the challenge.
The Xelix Solution
Xelix’s new module fully automates the process of supplier statement reconciliation, enabling you to do more recs, more often and in much less time
Key Benefits
Accurate financial reporting
Reconcile all supplier statements in a timely manner, ensuring an up-to-date ledger so you can report confidently.
Protect your bottom line
Catch missed credit notes and resolve incorrect payments prior to your pay run.
Improve Payment on Time
Highlight and resolve issues quickly so payments can be made on time.
Time to focus on value-adding tasks
Relieve your team of tedious, manual work & give back time to focus on more engaging, value-adding tasks.
Track reconciliation activity
Remove wasted time trailing through emails to resolve an issue or having to rely on the knowledge of various(/former) team members.
Healthy supplier relationships
Complete more recs, more often, and keep your suppliers informed in the click of a button. Dramatically reduce supplier queries.
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