Xelix announces new partnership with Profectus, unlocking growth strategy in Australia and New Zealand
Monday 7 November, 2022Xelix, the world’s first Accounts Payable Control Centre, has today announced an exclusive partnership in the ANZ region with Profectus, the leading audit service and technology company that provides solutions to mid to large tier enterprise businesses.
The move strengthens Xelix’s ambitious growth plans and, in partnership with Profectus, unlocks the Australia and New Zealand market, creating the ultimate full-service solution for Accounts Payable teams in the region.
The Xelix SaaS application bolts-on to ERP and procure-to-pay systems, providing deeply enriched functionality to supercharge the AP function. Key benefits include the prevention of incorrect payments and fraud, and automation of key AP processes enhancing team productivity.
For Profectus, this partnership signifies a key milestone in long-term plans to move away from purely providing services and become a more focused technology driven company. Joining forces with Xelix is the combination of the shared vision of solving the core problems facing the Accounts Payable function.
“Profectus has a great reputation of working closely with its clients as a compliance and recovery insider, almost an extension of the finance and AP teams for many businesses across ANZ,” said Paul Roiter, CEO and Co-founder, Xelix. “It made perfect sense to partner with them and help their clients and future ones of all sizes to avail of a world-leading technology that will help Profectus focus on key compliance issues that their expertise is best-positioned to deliver. Our agreement ensures SMEs as well as large-scale enterprises can now make the most of our complimentary expertise.”
“We’ve historically helped clients at the enterprise level, as auditing takes significant amount of time and resources to undertake. The ROI for us and our clients was only realised when working with large-scale and complex businesses. But issues of financial erosion are not limited to the big end of town; small and medium-sized businesses face the same issues of overcharging or under-claiming.” Said Chris Hutchins, CEO, Profectus Group. “This solution’s real-time analysis of transactions means the audit side is no longer as intensive and it ensures that we can deliver the same level of analysis and expertise normally reserved for big businesses to SMEs, which to date have been underserved on this front.”
The Xelix platform currently has three solutions – all using machine learning to re-design core AP processes. Xelix Protect offers a machine-learning payment audit to identify high-risk transactions prior to the pay run. Xelix Statement Reconciliation provides an automated workflow to ensure accounting accuracy and compliance. Xelix Insight is a self-service business intelligence tool enabling rapid insights from AP and P2P data.
About Xelix
Xelix is an enterprise SaaS company providing automation solutions for the CFO office. Xelix has developed an Accounts Payable Control Centre – a machine-learning powered application that transforms enterprise AP processes. The company was launched in 2018 by University friends Paul Roiter (CEO) and Phillip Watts (CPO). To learn more, visit www.xelix.com, or follow Xelix on Linkedin.
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