What is supplier risk intelligence?
Finance and Procurement teams can protect their supplier spending through a continuous 360° view or 3,600 analysis checks.
They will reduce costs, protect against fraud and non-compliance, protect against supply chain interruption and improve process efficiency.
Supplier Risk Intelligence is helping organisations eliminate supplier risk in their procure-to-pay cycle and drive value to their bottom line.
We created Supplier Risk Intelligence to fully protect Accounts Payable and Procurement teams from a broad range of procure-to-pay risks. Supplier Risk Intelligence combines invoice and supplier analyses and incorporates global-risk databases to extend protection.
Supplier Risk Intelligence is supplier-oriented and monitors every supplier, every transaction, every day. If you only check your invoices, you are only protecting your organisation from 50% of the risks.
The increasing automation and complexity of procure-to-pay (P2P) processing create new challenges in P2P protection, as well as new opportunities for fraud, risk, and compliance exceptions to enter your systems.
Strengthening controls with FISCAL Technologies immediately benefits the bottom line of your P&L statement.
- A one-time, initial clean-up process recovers overpayments and unused credit notes from suppliers, immediately generating cash
- Ongoing protection follows as high-risk suppliers and invoices are detected as soon as they enter your accounting system
- Regulatory compliance is supported with sanction list checking and payment performance reporting
- Environmental, Social and Governance compliance with continuous ESG and Sanction monitoring for all active suppliers
- Fraud protection is enhanced with employee-to-supplier relationships checking and many other fraud risk indicators
- Industry-leading duplicate invoice detection protects working capital
- Operational costs kept low as processing inefficiencies are detected and removed
The value you receive from Supplier Risk Intelligence
FISCAL’s software and services provide complete protection and peace of mind through 4 areas: increased controls, continuous protection, cost savings, and performance improvements.”
We work with a unique combination of internal and external data, not found in any other risk protection solutions.
Coupled with this we have 18 years’ worth of experience encapsulated in our detection algorithms, including the latest Artificial Intelligence.
Finally, we have customer success managers and services teams to handhold our customers through proof of concept, implementation and their continuous, preventative risk protection journey as they progress to best-in-class.
Find out more
Unnecessary cash leakage is caused by weak or out of date controls in procure to pay processing. Risks from suppliers and in your transactions with them will always result in cash loss, costly invoice processing, and the risk of fraud.
To find out more, download our Solution Overview Brochure.
Supplier Risk Intelligence delivers
- Master supplier file analysis and cleansing on a daily basis
- Continuous checking of suppliers against international sanction lists
- Continuous checking of suppliers against a global ESG-related risk database
- Employees cross checked with suppliers to find potential matches
- Invoices checked for risks at a forensic level with AI-powered analytics
- Fraud and compliance risks detected proactively
- Identification of long invoice processing times and process improvement opportunity