Excedr reduces month-end closing time using AI-integrated ERP
Life science equipment lessor Excedr transitioned its finance operations to an AI-native ERP system, cutting its monthly close process from ten days to two.
Excedr, a company that provides laboratory equipment leasing to the life science sector, has completed a transition of its finance operations from spreadsheets and QuickBooks to an AI-native ERP system developed by Rillet. The implementation, managed by consultant firm Raiz, has reduced the company's month-end closing process from ten business days to two.
CEO Jon Chee stated that the move allows the firm to prioritize customer service over back-office administration. By automating tasks such as lease scheduling, revenue recognition, and invoice generation, Excedr has reduced its outsourced accounting expenses by approximately 75 percent. The system provides real-time visibility into the company’s borrowing base, enabling faster capital deployment.
Beyond immediate efficiency gains, the platform supports multi-currency accounting and entity consolidation, positioning the company for potential international expansion. The project involved migrating 15 years of transaction history, with Raiz overseeing the structural setup to ensure audit-ready financial reporting.