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.
Reserve a place
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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University Hospitals Sussex NHS Foundation Trust was processing over 140,000 supplier invoices annually, but was aware of previously undetected duplicate payments and needed greater control and protection of its payments process. They asked – we delivered. Within 5 months, ROI was over 100% and they had successfully prevented over £50,000 in duplicate payments.
University Hospitals Sussex NHS Foundation Trust (UHS) is an acute teaching hospital serving a large community in Sussex and the South East. Working across two sites in Brighton and Haywards Heath, the Trust handles more than 750,000 patient visits with a budget of approximately £535 million a year.
UHS’s Accounts Payable team of 5 processes 145,000 invoices a year to a supplier base of 900 accounts. Research from the IIA indicates that large organisations typically pay up to 0.1% of their invoices twice. This put an estimated 145 invoices at risk of duplicate payment. Even with good AP systems and processes, the Trust was vulnerable to overpayments and duplicate invoices. Oracle did not provide the analysis needed to uncover where the mistakes happened, while OCR technology could not reliably detect the payment issues resulting from misreadings. UHS used recovery auditors to help address the issue, and while recovered revenue results were favourable, it was disruptive to the department, retrospective, and expensive. The Trust needed a solution that was easy to use, saved time, brought the AP audit and recovery process in-house, stopped duplicate payments at source and provided insight into where and how duplicates occur.
After initial discussions with FISCAL Technologies, UHS decided to proceed with a proof of concept exercise by submitting two fiscal years’ worth of data – even data already analysed by recovery auditors. The final report revealed a number of duplicate payments that paid for the software and called into question the use of external auditors as a principle means of finding and preventing duplicate payments and fraud. UHS selected FISCAL’s forensic software for its ease of installation and immediate return on investment. FISCAL’s solution requires no direct interface to the Trust’s Oracle system, so no assistance from the IT department was required. After an upgrade to V5, the AP team is able to access the solution via web browser.
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