Name: Xelix - Invoice Intelligence Platform | Explained in 60 Seconds
Uploaded: 2020-08-20T12:59:58.000Z
Duration: 1 min 7 s
Description: Xelix - Invoice Intelligence Platform | Explained in 60 Seconds

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### Invoice Management
Users consistently praise Xelix's invoice management capabilities, highlighting its effectiveness in detecting and preventing duplicate invoices, errors in invoice processing, and potential payment mistakes. The tool's user-friendly interface, quick onboarding process, and ability to provide valuable insights into historical data have been particularly commended. Users appreciate how Xelix streamlines the identification of duplicate payments, incorrect invoice numbers, and discrepancies in vendor allocations, ultimately saving time and ensuring accurate payment processing. Additionally, the tool's proactive approach in flagging potential errors before payments are made has been a key factor in enhancing operational efficiency and financial accuracy for users.

### Payment Processing
Users consistently praise Xelix for its efficient identification of potential duplicate payments and errors in invoices, which ultimately helps in avoiding overpayments and ensuring timely payments. The system's ability to streamline the payment process by highlighting discrepancies and facilitating quick rectification has been a significant advantage for many users. Additionally, the tool's dashboard provides a clear overview of payment statuses and invoice volumes, aiding in monitoring payment performance and team KPIs effectively. The feature that stands out the most is the duplicate payment prevention, which has saved users both time and money by eliminating the need for manual checks and reducing the risk of erroneous payments.

### Reconciliation Processes
Users unanimously praise Xelix's efficiency in reconciliation processes. They highlight the platform's ability to streamline statement reconciliations, conduct live duplicate checks, and provide real-time insights into missing documents and payment discrepancies. The automated features not only save time but also help in identifying errors that were previously overlooked. Additionally, users appreciate the platform's user-friendly interface and the prompt support provided by the Xelix team.

### Error Detection and Prevention
Users consistently praise Xelix for its robust error detection and prevention capabilities. They highlight the tool's effectiveness in identifying potential errors, spotting mistakes, and preventing duplicate payments. Xelix's ability to catch errors before payment runs and its feature of highlighting invoice discrepancies have been particularly beneficial for users. The platform's user-friendly interface and quick onboarding process have also been commended, making error detection and prevention a streamlined and efficient process for organizations utilizing Xelix.

### Risk Management and Compliance
Users consistently highlight Xelix's risk management and compliance capabilities as a key strength of the platform. The ability to identify duplicate invoices, predict upcoming spending, and prevent errors in payment processing has garnered high praise from users. The platform's integration with major ERP systems like SAP is seen as a valuable feature that enhances risk mitigation and compliance efforts. Additionally, the real-time monitoring of payment performance and the user-friendly dashboards contribute to a comprehensive risk management solution that users find reliable and effective.

### Supplier and Vendor Management
Users consistently praise Xelix's supplier and vendor management capabilities. They highlight the platform's effectiveness in identifying and flagging potential duplicates across units, systems, and vendors. The ease of use and accuracy of the duplicate flagging feature have been particularly beneficial for accounts payable teams, streamlining the process of reviewing and correcting errors before payment runs. Additionally, users appreciate the time-saving aspect of automated statement reconciliation, which helps in promptly identifying and rectifying any discrepancies with suppliers. Xelix's ability to prevent duplicate payments, resolve issues proactively, and enhance overall supplier relations has garnered positive feedback from users.

User-Friendly Interface: Many users have praised the user-friendly interface of Xelix, describing it as simple and easy to use. The dashboard and tools provided by Xelix are intuitive, allowing users to quickly understand and navigate the platform. Some reviewers found the interface to be more friendly than their ERP system.

Effective Duplicate Identification: Several users have appreciated Xelix's ability to find potential duplicates, which was a key reason for their purchase. The tool effectively flags potential duplicate invoices across different units, systems, and vendors. This feature has helped users catch duplicate payments and prevent errors before making payments.

Excellent Customer Service: Users have consistently praised the excellent customer service provided by Xelix. Reviewers mentioned that the team is responsive, knowledgeable, and open to suggestions. Regular catch-ups with customers help address challenges or suggestions promptly. This high level of customer service contributes to a positive experience for users of Xelix.

Reporting Options Need Improvement: Some users have expressed dissatisfaction with the reporting options in the software, stating that it needs improvement for following up on over payments. They believe that the current reporting features are not robust enough to effectively track and manage over payments.

Slow Export/Download Feature: According to several reviewers, the export/download feature can be slow at times, especially when dealing with a large amount of information. This slowness can impact productivity and cause frustration for users who need to access and analyze data quickly.

Lack of User Security Features: Multiple users have suggested that the user security in the software needs to be improved. They feel that expected controls such as multi-factor authentication, single sign-on, or granular user control should be included by default to ensure better protection of sensitive financial data.

Users highly recommend Xelix for companies with a large volume of invoices to process. They have found that Xelix provides significant value and justifies the investment. In fact, they have seen a return on investment within weeks of using Xelix. Additionally, users have consistently praised the level of customer service provided by the Xelix team. Specifically, they strongly recommend Xelix for its effectiveness in controlling posting errors and eliminating duplicate or wrongly posted invoices. Overall, Xelix has been widely acclaimed by users for its ability to streamline invoice processing and improve efficiency in financial operations.

Tipalti automates critical financial processes to drive efficiency, including accounts payable, mass payments, procurement, and expenses, all on one global finance automation platform that grows with the organization, automating, de-risking and simplifying finance.

AvidXchange is an automated bill payment system.

Xelix

Accounts Payable

Xelix - Invoice Intelligence Platform | Explained in 60 Seconds

Empower your AP and P2P teams with Xelix: AI-powered software that intelligently uncovers payment risks and delivers meaningful insights.

"Xelix is a top 20 leader in digital finance you need to know" - Forbes

To find out more about Xelix, visit our website: www.xelix.com

Features found in accounts payable software products

Automated Accounts Payable Processes

Accounts payable processes are automated based on pre-determined workflows.

Vendor Management

Holds information related to vendor terms and contracts.

Tax Form Preparation

Allows users to create and share tax forms within the platform.

Payment Management

Features that allow for the management of payments across various forms of finance/accounting software.

Customizable Approval Policies

Policies for different types of approvals can be customized, sent to multiple approvers, automatically approved, etc.

Financial Document Management

Invoices, expense reports, and associated documents are stored within the platform for any future needs.

Payment Status Tracking

Tracks what stage payments are at in the process, from approval to receipt.

Payment Audit Trail

Allows admin users visibility into the entire payment process, from receiving the expense claim or invoice to the payee receiving payment.

Duplicate Bill Detection

Detects duplicate invoices or expense reports to prevent double payments.

Advanced OCR

Automatically imports information from invoices, receipts, expense reports, and other 
scanned documents into the platform.

Electronic Funds Transfer

Funds can be transferred via EFT as opposed to paper checks.

PCI Compliant Security Measures

Banking and finance information is protected according to Privacy Shield and GDPR standards.

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Xelix

Overview

What is Xelix?