Durham County, NC Chooses FISCAL to Protect Public Spend
Press Release | 10th March 2017
Raleigh, NC — March 10th, 2017: FISCAL Technologies, the world-leading provider of accounts payable (AP) forensic software, has signed an initial three-year contract to provide Durham Country, North Carolina with its AP Forensics® software to reduce risk, improve compliance, detect fraud and prevent overpayments.
FISCAL’s powerful forensic tools analyze accounts payable and supplier data to identify high-risk transactions and suppliers, processing errors, and potential fraud. AP Forensics® is designed to both protect overall spend via constant monitoring of all accounting systems and provide the basis for continuous process improvement.
With AP Forensics®, AP accounts payable teams can perform a daily audit of their scheduled payments to identify and address any payment irregularities or threats of fraud before the actual payment is made. Durham County has opted for a cost-effective, secure, hosted solution whereby FISCAL configures, hosts, maintains,and supports the software application. Theagreement also includes FISCAL’s p-card managed service to assist with the reconciliation of high volume, low value transactions that are routed through Durham County’s cloud-based p-card solution.
George Quick, Durham County’s Chief Financial Officer, said: “We were impressed with the outcome of the initial Risk Review and particularly the cost effective return on investment for FISCAL’s forensic products. We are pleased our Board of County Commissioners supported this additional internal control resource. It’s vital that we do everything to protect spend and safeguard taxpayer dollars.”
Eric Hayes, Vice President at FISCAL, said: “Durham County is typical of many of today’s local and state governments that are under pressure to consistently deliver a high level of service and value to the communities they serve. FISCAL is proud to be an agent for change to our neighbors at Durham County and elsewhere across North America, helping these organizations take preventive measures to cut costs and protect public spend.”
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About FISCAL Technologies:
FISCAL Technologies is the leading provider of forensic solutions that empower purchase-to-pay teams across the globe to protect organizational spend.
Incorporating unique technology to reduce risk in the supply chain, FISCAL solutions are 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 payments and is now relied on by over 250 leading organizations across the globe.
For more information, please visit https://www.fiscaltec.com.