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Your cash flow is protected with NXG Forensics
NXG Forensics® is a cloud-based Procure-to-Pay (P2P) risk management solution. It protects organisational spend from fraud, supplier and transactional risks, and compliance failures before they impact your bottom line.
Utilising statistical analysis and machine learning, NXG Forensics integrates with your ERP system. It operates continuously and preventatively, to make your job easier, faster, and more effective. You will enjoy many benefits, including:
- Reduced costs: NXG Forensics has a unique approach to ensuring your cash flow is protected. You will be able to identify and prevent unnecessary and incorrect payments to suppliers before payment.
- Continuous protection: We check 100% of transactions 100% of the time – there’s no random sampling or transaction size cut-off.
- Visibility of risks: All transactions and supplier details are checked forensically. We check for common issues like duplicate invoices and supplier file anomalies, and a large number of other risks.
- Improved process efficiency: Risk detection and root-cause analysis drives process improvements to remove the source of issues and increase processing efficiency.
- Read our blog “You see what nobody else sees“
We’re delighted with the results we’re seeing from the implementation of NXG Forensics. Fifteen minutes or less a day is all it takes to protect our organisational spend, giving the business assurance that its working capital is safe and invoice processing costs are low.
AP Team Leader, Manufacturer
Mitigate risk with financial analytics
Business resilience is more important than ever. Accounts Payable, Procure-to-Pay and Shared Service teams are expected to do everything possible to prevent risks that would damage the organisation.
NXG Forensics is built from the ground up and designed specifically for finance professionals. It uses artificial intelligence (AI) to automatically adapt tests and logic to find your organisation’s specific risks. These tests use industry recognised logic, financial analytics and our powerful algorithms across thousands of data points, to identify risks within the suppliers and their transaction. This is done with great speed and accuracy.
Reports and dashboards to establish strong risk data governance
NXG Forensics comes with pre-build AP-specific reports and dashboards that enable you to see trends and totals, and export to Excel as required.
Our extensive report library supports the needs of AP Managers as they tune operational efficiency and view workflow across the Procure-to-Pay cycle.
Complete financial visibility
When you get started with NXG Forensics, we pair you with a solution expert who is an expert in your field.
This way, you’ll always be able to answer questions like which suppliers contribute most issues and why, what’s the root-cause of risks, and where your processes could be improved.