Introducing NXG Forensics
Press Release | 14th January 2019 by Anita Matthews
Pressure is increasing for Shared Service Centre (SSC), Account Payable (AP) and Purchase-to-Pay (P2P) teams to reduce supplier payment risks, fraud, and compliance issues, all while facing increasingly complex transactions and reducing headcounts.
These challenges have a direct impact on the organisation’s key assets – its working capital and reputation.
To help organisations manage these challenges FISCAL Technologies has developed the next generation P2P risk management platform – NXG Forensics.
Power up your P2P risk management with NXG Forensics
With NXG Forensics you can now take advantage of advanced forensic analysis, including Artificial Intelligent, to reduce risk in the P2P cycle and improve your Purchase-to-Pay process.
The new look interface and diagnostic reporting makes it even quicker and easier to identify high risk transaction exceptions, detect potential fraud, and understand the root causes.
Here’s a quick look at how NXG Forensics empowers your AP/P2P team.
Transactional Risk Centre
The forensic analysis engine uses fuzzy pattern matching, statistical methods and machine learning to conduct more tests and identify more high-risk transaction exceptions than ever before. Producing actionable insights leads to faster resolution and root cause analysis.
Supplier Risk Centre
Discovering hard to detect risks originating from suppliers requires in-depth analysis and correlation of transaction and mater supplier file (MSF) data. This unique approach identifies potential fraud, MSF duplicates, and highlights multiple types of compliance breach.
The diagnostic reports have been assembled to drive best-in-class P2 performance. Delivering superior insight to standard KPI reports, the reporting centre is key to understanding exceptions and designing process improvements for long-term benefits.
By using a suite of continually evolving detection methods, new fraud tests are regularly added to keep you ahead of emerging threats and the increasing number and severity of fraud related risks. The growing set of industry recognised and proprietary tests find otherwise hidden indicators of possible fraud, protecting both your working capital and organisation’s reputation.
Learn more – join our webinar: Reducing Risk & Fraud in Accounts Payable Using NXG Forensics
Tags: Forensic Software Technology