Case Study: a £2.2bn global retail organisation doubles statement reconciliation volume with Xelix

a £2.2bn global organisation doubles statement reconciliation volume in a month with Xelix

A major £2.2bn global retail organisation was struggling with an inefficient and manual statement reconciliation process. Using two previous systems that were fraught with problems, the company could only reconcile around 400 statements a month. This was a significant challenge given their rapid growth and portfolio of over 12,000 suppliers. They sought a solution from vendor Xelix, specifically its Statements module, to automate the process and create efficiency.

By implementing Xelix, the retail company more than doubled its reconciliation volume to over 900 statements per month within the first two months. This led to a 266% growth in productivity, allowing the team to reconcile 1,849 statements in that period instead of a projected 250 if done manually. The solution from Xelix also improved relationships with suppliers and external auditors, freed up staff hours for value-added work, and provided the efficient automation needed to support the company's continued expansion.