Reston, VA – October, 5 2009:  FISCAL Technologies, Inc., provider of world- class accounts payable audit software, launches its exciting new AP Forensics® suite this week, with customers at the company’s annual User Group Conference in the UK among the first to see it.

FISCAL is a fast-growing provider of specialist audit technology to the accounts payable profession, and works closely with its customers to deliver innovative solutions that meet their day-to-day needs and which help establish accounts payable best practise. The new AP Forensics suite brings together and updates FISCAL’s industry-leading duplicate detection solutions, Duplicate Payment Finder and Duplicate Supplier Finder, which are already trusted by many local authorities, hospital and housing trusts and large companies in the UK and US to save them thousands of pounds in duplicate payments. Subsequent product releases will also form part of FISCAL’s AP Forensics family.

AP Forensics works by analyzing accounts payable transactions, processes, people and suppliers to avoid accidental duplicate payments, invoicing errors, compliance issues and supplier fraud. Most accounting systems are designed to carry out only basic checks, leaving a need for additional specialist software like AP Forensics to prevent large organizations losing sometimes hundreds of thousands of dollars a year.

Key to FISCAL’s success is the fact that it works closely with its customers to improve its solutions and services. Therefore, the new AP Forensics suite also sees a number of key changes to the core modules, including new simplified processes, a significant increase in the number and type of checks made by the software, an improved pattern recognition engine and better reporting and tracking tools. AP Forensics is entirely independent of any accounting system and, depending on individual organizations’ requirements, is available in Express, Business or Enterprise versions.

David Griffiths, FISCAL’s Director of Customer Development, said: “As Accounts Payable departments become increasingly regulated, centralized and automated, there is a greater need for simple but powerful tools that can be used on a daily or weekly basis to protect organizations’ valuable working capital. Our goal is to provide easy-to-use solutions that really empower accounts payable teams and to work with them to develop best practise in their profession.”

He continued: “FISCAL has grown by more than 50% this financial year and, with over seven years of experience, is already recognized as a leader in the field of accounts payable audit solutions. AP Forensics further strengthens our offering to customers and gives us a firm basis on which to build our suite of products over the next few years.”

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FISCAL Technologies, founded in 2002, provides world-class accounts payable audit software for corporations and government agencies to detect duplicate payments, fraud, invoicing errors and compliance issues. Organizations trust these solutions to meet their needs for cost reduction and increased control and protection of their working capital.

FISCAL’s AP Forensics® suite consists of three core modules to analyze invoices,
supplier accounts and VAT line items. Using industry-leading algorithms and pattern-matching technology, these modules have been designed specifically for Accounts Payable staff to easily run on a weekly or constant monitoring basis. They can work alongside any accounting system and have been used to scan hundreds of millions of transactions across the globe. For more information, please visit www.fiscaltec.com.

Media Contacts:
smarterpr@fiscaltec.com
FISCAL Technologies, Inc.