- The global account reconciliation software market is projected to grow at a CAGR of more than 8.5 percent through 2025
- Xalles Holdings offers financial reconciliation and payment auditing solutions
- The company operates a Fintech Accelerator Program, positioning it as a direct provider to enterprise and government institutions
Now that cash is no longer king, reconciling financial transactions has become even trickier. Yet, in many organizations, reconciling payments and other accounting entries is still done the old-fashioned way – manually – which means spending excessive time on transactions that have no problems. According to a survey by Ernst & Young, the typical accounting department spends up to 59 percent of its time managing transaction-intensive processes, with an estimated 95 percent of this effort wasted on transactions that already match (http://ccw.fm/K6Zay). Manual reconciliation is an inefficient and cost-demanding process and presents a drain on resources, which can be stemmed by reconciliation software such as that provided by Xalles Holdings Inc. (OTC: XALL). The fintech holding company is targeting this global account-reconciliation software market, which is projected to grow at a CAGR of more than 8.5 percent through 2025.
Xalles Holdings is a business development company focused on the payment industry and financial technology. The company provides payment solutions, including financial-transaction reconciliation software, and consulting services to government and business organizations. Xalles also operates a Fintech Accelerator Program under which it acquires and operates fintech businesses. The company has created a financial, technological and resource infrastructure to support its investee companies and external client projects. This backbone consists of senior-payment solutions consultants and a proprietary system for the financial reconciliation and auditing of business and government payment transactions, called X2X.
In 2018, Xalles formalized its accelerator program and currently has three wholly owned subsidiaries in that program. Currently, the company has a total of six commercial subsidiaries, which together comprise a reinforcing ecosystem of fintech services and technology. These include:
- Xalles Capital Inc., which provides management support of investment consortiums, direct investment into funds or projects and management of investments;
- Xalles Limited, which focuses on the design and marketing of new X2X solutions; it expects to acquire U.S. government transportation post-payment audit business through GSA Schedules and expand to non-transportation payment auditing;
- Xalles Technology Inc., which focuses on technical development of the X2X blockchain systems;
- Xalles Financial Services Group, a suite of consumer and small-business–oriented financial services;
- Co-Owners Rewards Inc., which offers a stock-based rewards system for payments cards and financial services; and
- Amazing Living Enterprises, which operates an affiliate program and ecommerce platform for enhancing financial lives.
As the electronic-payments universe expands, Xalles Holdings is continuing on its mission of leveraging blockchain and other technologies for financial-reconciliation and payment-auditing solutions. The company actively seeks acquisition targets with strong management teams and business models, large total-attainable markets and lucrative exit opportunities in which to invest and accelerate growth.
For more information, visit the company’s website at www.Xalles.com
NOTE TO INVESTORS: The latest news and updates relating to XALL are available in the company’s newsroom at http://ccw.fm/XALL
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