Software
Transaction risk intelligenceMaintain control of transaction risks to protect spend and improve cash flow. AI analyses and identifies risks across every transaction including duplicate invoices, data discrepancies, suspicious activity and incorrect POs. Use these insights to resolve exceptions faster and pay suppliers correctly.
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Automated supplier statement reconciliationMatch more statements, more often. AI automatically requests, collects, processes, and compares ERP data to find exceptions, saving time and increasing productivity. Shift team focus to recovering overpayments and missing credits.
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Supplier risk intelligenceTransform supplier file maintenance challenges into payment confidence and audit readiness, and highlight compliance and supply chain risks. Our software intelligently detects dormant or duplicate suppliers and incorrect supplier data, to prevent fraud and losses.
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Managed AP recovery auditA focused review of historical overpayments and recovery of lost value to improve your ledger accuracy, completed by the FISCAL team.
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Supplier file performance reviewA review of your master supplier file, giving you the ability to cleanse it of dormant and duplicate suppliers, to prevent payment delays and decrease fraud risk.
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Forensic risk analysisA comprehensive review of AP transactions, suppliers and statements, best during times of change to protect from fraud, overpayment and non-compliance.
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Consulting and bespoke reportingAdditional tailored project work including training, consultancy and reporting, including analysis and reporting led by our experts.
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An evening of practical discussion on where AI is genuinely earning its place in finance functions, and where it isn't yet.
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Local Government organisations across the UK trust our software to indicate transactional and supplier risks. Discover how our solutions can reduce overpayments and spot attempted supplier fraud.
40+ AP teams in public and private healthcare organisations trust FISCAL to find and mitigate risks. Learn how we protect your working capital and help continuously improve process efficiency, so you can focus on providing care.
Our end-to-end transaction and supplier risk solutions are trusted by over 100 businesses. From national retail chains to international currency providers, we've helped clients reduce cash leakage and improve their P2P processes.
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Find out how Aberdeen City Council’s Accounts Payable department prevented £500,000 of loss and became an award winning team. The Council’s initiative was to reduce duplicate invoices, delayed payments and fraud risk within finance, and was successfully achieved when FISCAL’s solution was implemented.
Aberdeen City Council’s AP team processes more than 225,000 invoices a year from thousands of suppliers through Cedar e-Financials using OCR and E-invoicing systems. Although already a dynamic team with strong leadership, defined procedures and integrated automation technologies, it still wanted a tool that helped reduce payment errors and risk while freeing up time to fine-tune other AP processes.
The Council’s AP team had three main issues it needed to solve:
In 2004, the Council’s then Head of Finance decided to trial FISCALs solution and was very pleased with the results. He said: “We found it a very clever piece of software and we were immediately impressed.” Following a successful 30-day trial, the Council implemented our software as a preventative measure. As a result, they have regularly renewed the licence to ensure continuity of the protection it offers in terms of greater preventative controls and increased visibility into transactions. They continue to derive real, bottom-line value from the software. In 2011, the team added the Constant Monitoring module, allowing them to set up automatic, regular reviews on all transactions. This gave the team a greater measure of control and insight than ever before. The AP team also started using the Master Supplier module to audit their file of 60,000 records, which had never previously been cleansed. Interrogating the supplier records beginning with “A”, identified more than 200 suppliers with incorrect or out-of-date information. The team has since used the module to further streamline and improve its Master Supplier File of several thousand records.
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