PROTECT ORGANIZATIONAL SPEND WITH ACCOUNTS PAYABLE FORENSICS
Today’s AP department is deluged with new ways in which invoice information is received. On top of this, payment processing time is accelerating rapidly at a time when additional responsibilities are being given to AP, costs and fraud are under tighter scrutiny, and headcounts are declining. Now, more than ever, extra controls are required to protect organizational spend.
FISCAL’s AP Forensics enterprise solution encompasses powerful forensic technology that's easy to use by any finance professional to protect an organization’s spend from high-risk vendors, transaction processing errors, non-compliant spend and outright fraud.
With algorithms and machine learning designed to analyse the entire procure-to-pay cycle (P2P), in particular Accounts Payable, AP Forensics offers a variety of lenses with which to view and understand an organization’s exposure to financial risk.
The software has been designed specifically for P2P staff to run on a constant monitoring basis, and works alongside any accounting or ERP system.
There are 9 core benefits to AP Forensics:
REDUCED RISK from duplicate payments and invoicing errors
WORKING CAPITAL PROTECTION through prevention of over-payments at source
COST REDUCTION through time and resource efficiencies
PROCESS IMPROVEMENT driven by actionable insight from predefined reports
STRENGTHENED COMPLIANCE by monitoring and enforcing adherence to established AP policies
COUNTER-FRAUD via a consolidated report highlighting high-risk vendors
INCREASED CONTROL due to heightened visibility
MASTER FILE MAINTENANCE by regular proactive cleansing and de-duping
ERP MIGRATION SUPPORT via access to historical transactions and protection from diverted resources