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 fully understand your organization’s objectives, values, and business processes. We provide guidance on getting maximum value from NXG Forensics®.
As well as product usage, 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 vendor chain transaction-risk protection.
For any organization, 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
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 vendors.
Using NXG Forensics, our trusted experts identify, analyze, 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.
Statement Reconciliation & Management Service
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 vendor’s statements.
Adding statement reconciliation into your 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.
ERP Migration P2P Risk Protection Service
During the upheaval of an ERP migration, the risk of duplicate payments, non-compliant processing, and fraud rise steeply. In addition, data quality issues frequently cause delays to the new system becoming fully operational.
Our team of trusted consultants can help you prevent ERP migration risks by creating a bespoke plan to increase your protection and reduce costs and time overruns with preventative measures before, during, and after ERP migration.
Protect your organization before, during and after ERP migration with NXG Forensics. Download the Fact Sheet.
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 analyzed three years of historical data, giving us an immediate payback and an ROI of nearly 400% on the project cost. Their fast start program gave us a huge leap up the learning curve and made adoption of their solution both manageable and profitable.Montgomery Council
Forensic Review Service
During periods of increased workload and working practice changes, Accounts Payable teams can find themselves struggling to prioritize 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 utilize 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.
P-Card Spend Analysis
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 organization to reconcile P-Card transactions with your AP ledger and pinpoint areas of concern, refining criteria.
Accelerated Forensic Analysis
Reviewing historic transactions and Master Vendor Files (MVF) can be time-consuming, which is why they are often placed on the back burner with the number of payment risks rising and being missed.
Used in conjunction with NXG Forensics, an Accelerated Forensic Analysis (AFA) is designed to comprehensively review historic transactions and MVF, accelerating ROI, and prompting effective next steps. The review can present customers with a manageable and prioritized set of overpayments as well as provide root cause analysis.
Our consultants will provide a full walkthrough of all results and findings, as well as providing recommendations for proactive best practice of software usage.
Vendor File Performance Review
More often than not, P2P teams do not have enough hours in the day to check Master Vendor Files (MVF) thoroughly and regularly. A poorly managed MVF is a breeding ground for fraud and payment issues and without a proactive, intelligent approach, these risks typically worsen over time.
A Vendor File Performance review includes making an analysis of dormant accounts, duplicate vendor records and carries out data validation checks, all of which are vital in reducing the possibility of fraud and payment errors.
FISCAL’s performance review does all the hard work, and our expert consultants will analyze and interpret the review outcome, enabling them to offer customers steps to take to ensure a cleaner and more manageable MVF to work with across P2P teams.
Personalized Training, Consulting & Reporting
We understand each of our customers are unique and all have different business requirements. Here at FISCAL Technologies, we offer additional tailored project work to our clients, including training, consultancy, and reporting.
Our consultancy team can create a customized set of reports on many different areas, including fraud risk analysis, which can be delivered monthly, quarterly, or yearly. These additional reports and insights can be used to further fine-tune our customers financial processes and ensure the software is continuously being utilized to ensure maximum value from the investment of our solution.