CO-HOSTED WEBINAR | FISCAL Technologies and Pagero | Tuesday 29 June | 15:00 BST | 10:00 EDT How to Protect Against the Increasing Risk of Fraud.

Expert consulting and training support

FISCAL customers have access to consulting, training, and recovery audit services that help them plan, implement and achieve their desired business outcomes.

We work with you to understand your organisation’s objectives. We provide guidance on getting maximum value from NXG Forensics®.

Our consultants deliver supporting services including statement reconciliation, benchmarking, master data management, recovery audits, and process improvement analysis. We help you develop your best practices for financial transformation.

For any organisation, sharing confidential data of this nature requires significant trust, which we have in spades for FISCAL.  We found their approach to be highly professional, non-intrusive and methodical.  The team was easily accessible and met with us regularly to update us on the project status.

Mid Cheshire Hospitals NHS Foundation Trust

Better financial results with a recovery audit

Our recovery audit is a financial data-mining service that involves using NXG Forensics to identify and verify duplicate and overpayments already made, and any potential fraud within your historical payments. We then work to recover these from suppliers.

Using NXG Forensics, our trusted experts identify, analyse, and work with you to identify then recover lost funds.  We rely on these essential insights to help you develop best practice routines in your finance department, and this in turn improves your bottom line and future cash flow.

The importance of statement reconciliation

A targeted statement reconciliation process is a vital control that many Accounts Payable teams are unable to perform; there is never enough time.

Using our solution to direct their statement reconciliation efforts, our consultants can perform statement matching with your suppliers to identify any discrepancies between your accounts payable and your supplier’s statements.

Adding statement reconciliation into you control process improves the accuracy of your ledgers, and can release locked-up cash in your P2P cycle in the form of unused credit notes and previous overpayments made that can be recovered.

We brought in FISCAL’s consultancy team to ensure a rapid adoption of and return on investment, and we have been impressed with the integrity and impact of their work.  Within little over a week, the team analysed three years of historical data, giving us an immediate payback and an ROI of nearly 400% on the project cost.  Their fast start programme gave us a huge leap up the learning curve and made adoption of their solution both manageable and profitable.

Montgomery Council

Emerge stronger from unplanned events with our forensic review service

During periods of increased workload and working practice changes, Accounts Payable teams can find themselves struggling to prioritise the risks needing resolution or escalation. They may have staff shortages, audits or other priorities which take time away from reviewing NXG Forensics reports and risk lists.

With our Forensic Review Service, our consultants will be an extension to your Accounts Payable team. We use our knowledge of risk identification, interpretation and mitigation when using your NXG Forensics system, when you don’t have the resource to utilise it fully.

This helps you receive the maximum benefit from NXG Forensics in the near-term, and through knowledge transfer, learn how to use the system fully for long-term benefit.

Reap the benefits of P-Card usage, but mitigate the risks

While purchasing cards (P-Card) have many benefits, it is important that you review P-Card spend for exceptions. Even the strongest internal controls will not completely eliminate the risk of duplicate payments, fraud or compliance issues. As well as checking spending within the P-Card stream, we compare P-Card to AP ledger spending to check for duplicate payments across the two methods.

Our P-Card Service offers an easy, cost-effective way to protect your P-Card spend from risks. The service is based on our core software technology and has been designed to specifically interrogate P-Card transactions.

A trusted expert will work with your organisation to reconcile P-Card transactions with your AP ledger and pinpoint areas of concern, refining criteria.

Read our blog: PCards – Does the ‘new normal’ change the landscape?

Subscribe and get the latest expert advice, practical tips, and useful risk and compliance information delivered straight to your inbox