Profectus has signed an ANZ-exclusive reseller agreement with Xelix, bringing Xelix’s AI-powered real-time auditing toolset and reconciliation automation software to Australia and NZ for the first time.
The exclusive agreement means Profectus will resell Xelix’s offerings in the region, allowing Profectus to expand its market reach locally from solely large-scale enterprises into the SME space as well.
The Xelix software works alongside existing finance systems, acting as an intelligence layer to automate processes, spot payment risks and deliver meaningful insights.
It uses the latest in AI and pattern-based detection to identify hidden threats and errors in transactional and master data while minimising false positives.
In addition, its statement reconciliation module fully automates the process of reconciling supplier statements, enabling businesses to do more recs more often and in much less time.
Chris Hutchins, CEO, Profectus Group, says the Xelix platform is a useful tool for clients and will help the company create better working solutions.
“The Xelix offering ensures not only can we help our clients identify discrepancies faster, but it will help them automate the process and free them to do more high-value work,” he says
“This level of real-time analysis augments our deep expertise on compliance, and we anticipate that the Xelix solution will enable Profectus to identify more issues for businesses across the region than ever before.”
Hutchins also says the agreement ensures Profectus can broaden its market scope to assist businesses of all sizes and across any sector for the first time.
“We’ve historically helped clients at the enterprise level, as auditing takes a 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,” he says.
“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. Xelix’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 mid-tier organisations, which to date have been underserved on this front.”
Paul Roiter, CEO, Xelix, says that working with Profectus was an easy decision, and a shared focus on compliance and expertise was a crucial part of the agreement.
“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,” he says.
“It made perfect sense to partner with them and help their clients and future ones 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 mid-market organisations as well as large-scale enterprises can now make the most of our complimentary expertise.”