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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Discover how Allscripts reduced errors and overpayments, whilst also reducing their risk exposure and wasted processing time by using FISCAL Technologies.
Allscripts is a global healthcare IT solution provider, delivering solutions that connect people, places and data in clinical, operational and financial communities, with the ultimate goal of empowering caregivers to make better decisions and provide better care. They provide hospital and health management systems including electronic health records (EHR) and solutions around population health, precision medicine and financial management.
Headquartered in Chicago, Allscripts has regional Accounts Payable payment centers in multiple US cities and an AP Support team providing invoice data entry in India.
The Accounts Payable team processes around 36,000 supplier invoices to the value of $688 million annually.
The team used to rely on manual checking to identify overpayments, which was periodic and retrospective and led to costly recovery attempts. As a growing organisation, Allscripts recognised the need to mitigate their risks. Their ERP did not detect all types of supplier and invoice issues, and they had too few resources to continue manually. They searched for an automated solution with the following capabilities: Analysis of transactions across operating units and payment sites, evaluation all suppliers, protection from overpayments and identification of process improvements.
The resolution was to implement FISCALs software, providing the team with all the above capabilities. It allowed the team to check invoices before payment and detect risks, allowing the team to see where improvements were needed.
Allscripts chose to implement FISCAL’s AP Forensics solution in 2013, to provide the team with an automated and preventative approach to checking for duplicates and other irregularities in supplier details and proposed payments.
To build on the benefits the solution achieved for the business, Allscripts transferred to FISCAL’s P2P risk management solution in 2019 to add more powerful forensic and AI-powered analysis. This solution finds more risks and has a streamlined, more intuitive user interface. The Senior Disbursements Specialist at Allscripts said: “Since we transferred to NXG it feels like someone is doing the work for me.”
All new and amended transactions are extracted from Oracle Financials, loaded into our software solution and analysed each night. This produces a short, prioritised list of high-risk transactions that can be reviewed daily and, most importantly, takes place before the supplier weekly payment run takes place.
FISCALs software meets Allscripts’ requirements of finding and preventing overpayments and other risks throughout the distributed AP teams, and supports P2P process improvements at corporate headquarters.
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