Trusted supplier relationships are key to your success
The supply chain is quickly becoming a way for retailers to offer consumers a differentiated service. But simultaneously making the supply chain faster, more predictable and cheaper is difficult to manage. Compounded by the unrelenting pressure of competition, online disruption and a focus on improving margins it is inevitable that risk and fraud will increase.
“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 retail finance departments include;
- Pressure to move suppliers to e-invoicing and portals
- Non-merchandise purchasing invoice error rate is high
- Automation and lack of human oversight
- Changing buyer trends and channel shift
- Rising supply costs drive further back-office cost reductions
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, retailers can protect their supply chain, safeguard working capital and reputations, drive cost efficiencies and protect margins.
Our retail 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."
Senior Finance Manager, Debenhams Retail Plc
Over 15 years, FISCAL has built up an in-depth understanding and appreciation of how retail customers need to protect their organizational 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 organizations.
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