Civica and FISCAL Technologies form new partnership to strengthen financial management
Press Release | 10th March 2020 by Sal Murdoch
New partnership will help customers improve visibility and reduce risk across finance functions via AI technology
Civica, a global leader in software for public services, has announced a new partnership with FICSAL Technologies and the company’s NXG Forensics® cloud-based P2P Risk Management and fraud prevention software.
The new partnership strengthens Civica’s innovation technology offering and will help the company’s broad range of customers across local government to improve visibility and reduce risk across their finance function.
Using the latest artificial intelligence (AI)powered and automation technology, FISCAL’s enterprise solutions analyse every single payment going through an organisation, performing financial forensic analysis to highlight supplier payment errors, prevent fraud and spot inconsistencies in P2P processing. Incorporating unique technology to identify risk in the supply chain, the software is used on a continuous, preventative basis to protect supplier spend, reduce the cost of financial operations, increase profitability and drive process improvement.
Connecting to any financial management system, NXG Forensics provides detailed analysis of payment transactions and supplier trends, in greater depth and consistency than ERP analysis alone. The solution uses industry-recognised logic, financial analytics and unique complex algorithms to identify a greater range of risks with exceptional depth, accuracy and clarity.
Lorraine Smith, Divisional Managing Director, Financials at Civica said: “We are delighted to be partnering with FICSAL Technologies to bring this new AI-powered technology to our financial customers. NXG Forensics fits perfectly into Civica’s cloud financial software suite and adds significant additional value for our customers, by providing an extra level of assurance and audit controls to avoid inappropriate payments. We are very much looking forward to working with the FISCAL Technologies team."
Colin Rigby, Director of Strategic Alliances & Channel at FISCAL Technologies added: “We’re excited to enter into a collaboration with such a successful global business as Civica. The public sector is an area where FISCAL Technologies has a major presence, and one where we are always looking to expand our reach. Since its foundation, Civica has built a reputation for excellence in providing technology solutions to a vast range of public sector organisations. To sustain this growth, it’s crucial that finance teams at Civica have the capabilities to protect organisational spend and drive process improvement. We’re looking forward to helping the company achieve this, and working to ensure the public sector has the tools in place to reach new levels of financial competence.”
Civica was first introduced to Fiscal Technologies via the company’s 2019 Civica Innovation Partner Programme, in association with UK technology market analysts TechMarketView. Via the initiative, Civica aimed to find innovative UK technology start-ups to enhance its portfolio and ultimately deliver better services for its customers and the communities they serve.
About FISCAL Technologies
FISCAL Technologies is a world leading provider of forensic solutions and services that empower purchase-to-pay teams across the globe to protect organisational spend.
Incorporating unique technology to reduce risk in the supply chain, FISCAL Technologies’ award‑winning, cloud-based risk management platform is used on a continuous, preventative basis to protect supplier spend, defend against fraud, increase profitability and drive process improvement.
Since 2003, FISCAL has safeguarded hundreds of millions of transactions and is now relied on by leading private and public sector organisations.
Civica has a clear strategic focus to be the leading software partner for its markets. Civica delivers sustained growth through the development of innovative and cloud-based technology to improve customer outcomes. This is driven by its investment in people, products and operating platforms.
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Tags: AP Recovery Audit Software AP Risk Management FISCAL People Managing AP Risk Partner