Protecting public spend is key to your success
The demands on financial operations in local government are more challenging than ever before. Teams are under pressure to reduce operating costs and simultaneously reduce incorrect payments. Factors such as high staff turnover – leading to the loss of experienced finance personnel and dual roles for those that remain, reducing central government funding support and new financial systems significantly increase the risk of errors and fraud occurring.
“The number of cases of fraud prevented or detected by local authorities went up in 2017-18 CIPFA has revealed. In its annual fraud tracker, the institute showed this type of crime remains a ‘major financial threat’.” - Public Finance Magazine
Drivers that increase risk and fraud in government finance departments include;
- Dramatic reduction in budgets
- More commercial partnerships
- Additional revenue streams required
- Reduction in financial operations headcount
- Increasing automation and lack of human oversight
FISCAL solutions use forensics and artificial intelligence to check every transaction with a battery of tests that identify possible errors, compliance issues or fraud. Armed with this insight, local authorities can protect their supply chain, safeguard working capital and reputations, drive cost efficiencies and protect margins.
Our government customers include;
70+ local government authorities,
including 22 of the 33 London Authorities
"Once we saw NXG Forensics we wanted to start using it as soon as possible. The increased visibility benefits the whole team as we identify a broader range of processes and errors to address than was possible before."
Income & Payments Manager, East Ayrshire Council
Over 15 years, FISCAL has built up an in-depth understanding and appreciation of how government customers need to protect their organisational spend.
To find out how you too can benefit, contact FISCAL Technologies here to discuss a no-cost, no-risk demonstration of the protection enjoyed by over 250 organisations.
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Brochure: Protecting Financial Operations In Local Government
Leading government finance teams are
changing their approach to fraud.