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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With a small Accounts Payable team, London & Quadrant recognised they had no time to waste when it came to processing invoices or chasing duplicate payments. Since launch, FISCAL’s solutions have reduced duplicated payments by 96%, transformed their AP processes and empowered the AP team.
Established in 1963, London & Quadrant (L&Q) is one of the largest of 2000 housing associations in the UK, managing over 70,000 homes with a market value of £10.8bn. It operates in a volatile housing market in London and the Southeast, plagued by chronic undersupply, huge demand, inflation of house prices and overcrowding. The group’s overall financial strategy is to plow every pound of surplus back into providing high quality homes and services for their residents and fund community projects to help low income families and key workers.
The AP department consists of six people and processes 83,000 invoices a year. L&Q has several thousands of suppliers on their master supplier file, with around 4,500 active suppliers at any one time. In 2006 they migrated to a new accounting system, which caused huge disruption to their payments. Many duplicate payments were found as a result of the transfer, and the workflow process relied on time-stretched AP staff to catch them. External auditors were engaged to recover the erroneous payments, but L&Q knew they needed to address the underlying issues.
When FISCAL approached the then Group Financial Controller for a meeting, he invited them in for discussions and submitted two financial years’ worth of data as part of the Proof of Concept exercise. FISCAL’s solution immediately uncovered duplicate payments which more than covered the cost of the software, and which hadn’t been detected by auditors. Head of Financial Operations Sarah White took on the direct responsibility for the software, seeing it as an ideal tool to help her and her team obtain insight into payment issues and stop subsequent duplicate payments from happening. With the software suite fully implemented, the AP Transactions function is now run on a strict, preventative basis ever since, identifying potential duplicate payments prior to the weekly payment run. The department also uses the Master Supplier File module on a monthly basis to identify potential duplicate records and act as a check when entering new accounts. Now, the AP team plays a significant role in maximising the surplus funds available for L&Q’s initiatives.
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