This Spend Matters PRO Vendor Analysis provides an overview of Xelix and its solution for AP audit and invoice intelligence.
Large organizations looking to address AP audit pain points, such as overpayments due to duplicates and wasted time caused by manual AP processes, use Xelix to automate processes while serving as an ‘AP control center’ that tackles payment risk and audit, vendor statement reconciliation and self-serve analytics.
By combining these key components and using AI/ML-driven technology to work as an intelligence layer with high accuracy rates and easy-to-use UX, Xelix provides a unique product that is not a true AP automation solution, but instead an offering that covers audit and intelligence capabilities not typical of an AP automation vendor. Xelix can work adjacently with AP automation and finance solutions to create value.
We have seen AI being used across AP solutions with different use cases. Xelix aims to stand out in this market by training its AI/ML models to flag for potential risk and learning from customer actions to streamline workflows.
Here’s why Xelix matters:
- To the market — While Xelix does not fit into the typical AP automation bucket, it does solve pain points that could be overlooked in standard AP solutions, such as overpayments.
- To customers — Xelix provides an AP intelligence platform that uses AI and ML models instead of traditional AP workflows that drive intelligent insights and streamline statement reconciliation and protection.
- To the buyer — Xelix’s platform is easy-to-use and can be integrated with source-to-pay solutions, including P2P, to provide an additional layer of AP intelligence to ensure all risks and errors are avoided in an AP workflow.
This Spend Matters PRO Vendor Analysis explains what differentiates this vendor, gives an overview of its capabilities and competitors, provides tech selection tips and closes with key analyst takeaways.