Agentic AI for Accounts Payable: How Xelix is reducing fraud risk and driving efficiencies for enterprise finance teams

For enterprises, managing spend is fraught with challenges

Global businesses spend billions of dollars, across thousands of vendors, in dozens of geographies – yet often lack basic controls over the invoices they pay. Accounts Payables (“AP”) teams do their best to keep up with the volume, but it’s simply too much. The result? A slow, error-prone, human-led process that leaks millions each year through overpayments, inaccuracies, and fraud.

Enter Xelix

Paul Roiter and Phil Watts, the co-founders of Xelix, saw firsthand how traditional accounts payable workflows were falling short for modern finance teams. In 2018, they founded Xelix to solve that problem. What began as a tool designed to identify duplicate invoices evolved into a multi-product platform that’s bringing a new layer of audit and control to the AP process. By sitting on top of ERPs, AP systems, and email inboxes, the platform acts as a control center that uses AI to unify invoice data, flag anomalies, automate reconciliations, and stop overpayments before they happen.

Xelix is built around four core modules, each designed to streamline a different part of the AP value chain:

• Transactions: Detects invoice anomalies, including duplicates, errors, and suspicious patterns before payment is made.
• Statement Reconciliation: Automates vendor statement reviews at scale to identify missing invoices, unallocated credits and incorrect ledger data.
• Vendor Helpdesk: LLM-powered team inbox that centralizes and automates vendor communications.
• Vendor Master Data Management (MDM): Maintains accurate, high-quality vendor data in real time to reduce vendor risk and support downstream processes.

Xelix processes $200B of invoice flow / year and its AI models are trained on seven years of proprietary data that continuously improve through a built-in feedback loop — users validate flagged issues, helping the model refine its accuracy with every interaction.

Hard Dollar ROI

Companies such as Astra Zeneca, GSK, and Virgin Atlantic have already recovered millions in spend and eliminated hundreds of hours of manual review using Xelix. The customers we spoke with in our diligence were enthusiastic about the platform:

• “Before Xelix, it was Excel, and it was very rudimentary and time consuming”
• “We found $8-9 million in duplicates straight away… compared to the license cost, it’s a very compelling business case”
• “Xelix is now what we call common minimum practice to have as an AP audit layer. I recommend them as the go-to-solution for AP controls”

In addition to impacting the bottom line, Xelix gives finance teams peace of mind by ensuring invoices are accurate and thoroughly reviewed before payment.

Xelix in Market

Xelix doesn’t replace ERP or AP tools—it enhances them. While others focus on processing, Xelix focuses on assurance. In a market still dominated by spreadsheets, point solutions, and expensive audit services firms. Xelix offers something far more sophisticated, with easy adoption and very quick time to value.

Financial services is primed for AI-driven change (see Financial Services Has a Data Problem: How AI Is Fueling Innovation), and Xelix stands out as a clear example in accounting and audit. The platform delivers measurable ROI, making it a must-have for modern finance teams. This has translated into strong growth and capital efficiency. We couldn’t be more thrilled to partner with Paul, Phil, and the team at Xelix as they reimagine how enterprises manage and control spend.