Protection from unnecessary financial loss is key to your success
The need to reduce costs and find efficiency gains in financial operations is increasing within all organizations - finance teams are under pressure to reduce operating costs and simultaneously reduce incorrect payments and fraud.
“Modifying controls and deploying effective risk management in order to mitigate today’s and tomorrow’s risks and create maximum value has never been more urgent.”
- ECIIA Risk in Focus 2019
Factors such as high staff turnover – leading to the loss of experienced finance personnel and dual roles for those that remain, reducing budgets and new financial systems significantly increase the risk of errors and fraud occurring when processing supplier invoices.
“The use of proactive data monitoring and analysis correlates with 52% lower fraud losses and 58% faster resolution, yet only 37% of organizations implement these controls.”
- ACFE Report to the Nations 2018
Drivers that increase risk and fraud in finance departments include;
- Reducing budgets and headcount
- Adopting new technologies to be more efficient
- Increasing automation and lack of human oversight
- Consolidation of finance functions and the rise of shared services
- Changes to supply chains
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, public and private sector organizations can protect their supply chain, safeguard working capital and reputations, drive cost efficiencies and protect margins.
Our customers include
"Our experience with NXG Forensics has been excellent and I am confident that the protection from fraud and risk provided by NXG Forensics is the highest we can achieve."
Over 15 years FISCAL has built up an in-depth understanding and appreciation of the needs businesses in all sectors have to protect their organizational spend.
We have over 250 customers, operating in all industry sectors, using all ERP systems, and in the US, Europe and the UK.
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 organizations.
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PSC Metals LLC
A positive return on investment within 5 days.
Fruit of the Loom
Achieved ROI within the first several months of using AP Forensics.