Account payable teams in Australia and New Zealand have received a huge boost after two major players in this arena have announced a ground-breaking partnership.

Xelix, who offer the world’s first account payable control centre, has announced an exclusive partnership with leading audit services company, Profectus.

According to a statement announcing the deal, this will create “the ultimate full-service solution for accounts payable teams in the region”.

Since being set-up in 2018, Xelix has become known as an innovative tool for accounts payable teams, with its SaaS application that bolts-on to ERP and procure-to-pay systems. It has been noted for preventing incorrect payments and fraud, as well as the automation of certain processes for AP teams.

Profectus views their partnership with Xelix as a key milestone in their bid to move towards becoming a tech-driven company.

Chris Hutchins, the CEO of Profectus Group, discussed how this deal offers them an avenue to serve smaller organizations, as well as the bigger companies they already deal with.

He said: “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.”

Paul Roiter, CEO and Co-founder of Xelix, also expressed delight to be partnering with a firm that is well established in the region.

He said: “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.

The combined expertise of both organizations will help them provide a solution like no other in the region.

“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” Mr Roiter added.