FISCAL Technologies ends 2016 with the best performance in its 13-year history
Press Release | 04th January 2017
Reading, UK – 4th January 2017: FISCAL Technologies, the world-leading provider of accounts payable forensic software, today released details of its 2016 full year results.
“Strong growth across all our geographies and business units drove record earnings this year, as we closed out the 2016 fiscal year with the best results in our thirteen year history,” said CEO David Griffiths. “Many more clients have benefited from FISCAL’s unique forensic software solutions, empowering purchase-to-pay teams and providing organisations with the tools to reduce risk and safeguard spend.”
FISCAL posted a 55% rise in sales for the full year to 30 November, and protected 50 million transactions, equating to over 300 billion pounds of organisational spend. Growth has come from both its EMEA market where sales were up 56%, and the North American market where sales rose 42%.
The almost immediate return on investment from FISCAL’s market-leading AP Forensics® Enterprise Suite is among the many factors that have contributed to the company’s record-breaking 2016 results. This core suite is continuously updated and enhanced to provide the most comprehensive protection from errors, fraud and supplier risk.
Building on the success of its core software, FISCAL has expanded its specialised services offering, growing the global client base and ensuring they deliver immediate value to the P2P function with dedicated consultants and tailor-made solutions.
In addition, partnership channels to market have also provided an important boost to earnings, enabling FISCAL to reach new sectors and markets without onerous direct costs. This route to market is growing rapidly and FISCAL expects 2017 to reflect the outcome of new beneficial partner relationships.
“We are continually updating and improving our software based on the needs and best practices of our customers, and each iteration provides a better service for all the users of our products,” said Lesley Reeve, the company’s COO. “New clients, including a major US transit authority, one of the world’s largest retailers and a global defence contractor, benefited from continuous improvements to FISCAL’s flagship forensic products. We recognise the value of customer input, and have set up a Strategic Advisory Board of FISCAL executives and senior finance managers from some of our major customers to engage, discuss and steer innovation and development.”
Stated David, “The total dedication and hard-work of FISCAL’s team is reflected in the record-breaking results we have achieved in 2016. Through innovative product development and excellent customer service we have reached and exceeded our goals for this fiscal year, and will drive growth into 2017 by ensuring we continue to provide the foremost accounts payable forensic software service available on the market.”
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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 organisational 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 organisations.
For more information, please visit www.fiscaltec.co.uk.
0845 680 1905