Reston, VA - 11th December 2009: FISCAL Technologies, provider of world- class accounts payable audit software, showcased its industry-leading AP Forensics® suite at the HFMA conference in London, UK this week.

Conference delegates were invited to visit the FISCAL stand to receive a free Duplicate Payment Health Check and software trial. As UK National Health Service (NHS) trusts face their toughest challenge to date in terms of cutting costs and increasing efficiency, the health check proved extremely popular, with over 30 trusts taking up the offer.

FISCAL is an established provider of unique, 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. This in turn helps establish accounts payable best practise. Carrying out a health check proves the immediate value of the AP Forensics software and highlights real areas for cost saving and improvement. Once the software is installed, Accounts Payable managers can identify areas where they are losing money through duplicate payments, invoicing errors and supplier fraud. AP Forensics suite is already used actively by over 20 NHS trusts around the UK, saving them hundreds of thousands of dollars in duplicate payments and other errors.

AP Forensics works by analyzing accounts payable transactions using over 47 different checks 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 medium to large organizations losing sometimes hundreds of thousands of dollars a year. AP Forensics is simple and quick to use and sits alongside any accounting system. Depending on individual organizations’ requirements, it is available in Express, Business or Enterprise versions to suit any size budget.

David Griffiths, FISCAL’s Director of Customer Development in the UK, said: “We were delighted to welcome so many senior finance managers to our stand at the HMFA conference. We are already working with many NHS trusts, so we know the pressure they are under on a day-to-day basis to continually deliver greater efficiency gains and to scrutinize every area for cost savings. Our goal is to provide easy-to-use solutions that help them do this and that really empower accounts payable teams. Our software provides them with fantastic ROI, key in this tough economic environment, and as result we have grown by 50% this financial year.”

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Note to editors

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.