AP FORENSICS PROTECTING ORGANISATIONAL SPEND

Transcription

1 AP FORENSICS PROTECTING ORGANISATIONAL SPEND

2 WORLD-CLASS FORENSICS SOFTWARE TO PROTECT ORGANISATIONAL SPEND Leading organisations trust FISCAL s solutions to protect working capital, reduce risk and ensure accurate financial reporting thus helping to safeguard their brand and overall company reputation. Today s accounts payable function is going through an immense transition from a purely transactional role to a more strategic one, with automated processing of financial information now coming through a wide variety of sources such as supplier portals, e-invoicing, OCR feeds, procurement cards, and EDI, to name a few. On top of this increasing complexity, faster payment processing times with fewer staff mean now, more than ever, extra controls are required to protect organisational spend. FISCAL s AP Forensics (APF) Enterprise Suite is a set of powerful, easy-to-use forensics tools designed for regular use by any finance professional to reduce costs, detect fraud, improve processes and increase compliance. DEDICATION TO CUSTOMER SUCCESS FISCAL s total commitment to Customer Success puts dedicated resources at your disposal to support your APF purchase and implementation. The Specialised Services team have in-depth knowledge of both the APF suite and the working practices of over 200 organisations, gained over 10 years of working closely with finance teams around the world. Drawing on a unique accounts payable knowledge base and using the latest benchmarking tools, FISCAL s trainers are experts in delivering immediate value to any AP function, leveraging an AP Forensics investment for maximum results. They will work to embed the software into your existing financial processes and make recommendations for process or system enhancements, training needs and the use of AP technologies towards development of a best-in-class AP function. FIVE INTEGRATED MODULES ANALYSE THE ENTIRE PURCHASE-TO-PAY CYCLE, IN PARTICULAR ACCOUNTS PAYABLE: Transactions Module: The core APF module which identifies anomalies in current or historical accounts payable transaction data - including overpayments, input errors and fraud ensuring protection from expensive mistakes before they happen. Suppliers Module: A sophisticated tool to routinely clean and maintain your master supplier file a fundamental component of any organisation s anti-fraud strategy. Fraud Module: Designed specifically to tackle the increasing problem of fraud, using a battery of internationally-recognised fraud tests. No other product on the market today gives you more insight into possible fraud within your financial processes and transactions. The results were amazing. After four weeks we had discovered duplicate payments which more than paid for the solution itself. Additionally, we are able to process payments correctly and on a timely basis ensuring we bring best-in-class practice to our AP team. We are more than happy with our choice of solutions. Payment Processing Officer, Blaenau Gwent County Borough Council Constant Monitoring: Automates the extracts from your ERP, delivering reports and analysis directly to your desktop. Reports: Puts 50 detailed, ready-to-run reports at your fingertips so that you can clearly and accurately see the issues and take appropriate action to drive process improvement. KEY BENEFITS OF FISCAL SPECIALISED SERVICES: Maximises value and return on investment Improves staff performance, productivity and satisfaction Accelerates APF implementation Evaluates internal controls and procedures Streamlines processes Benchmarks against international standards AP Forensics suite is quick and easy to use. It enables continuous monitoring of entries onto our Open Accounts system and provides a guarantee that payment runs are error free. FISCAL s passion for best-in-class AP practice is second to none and their annual Empower AP Conference is an inspirational event that provides a rare opportunity to network with like-minded AP professionals. Accounts Payable Manager, Jet2.com

3 AP FORENSICS AT WORK: BUSINESS CASE STUDIES CORPORATE: DEBENHAMS Debenhams is a leading international retailer with a proud British heritage which trades out of 240 stores across 28 countries, as well as via their website. Debenhams process around 1.3 million AP transactions (GFR & GNFR) per annum and were looking for a solution to enhance their controls that would highlight processing errors, prevent fraud, and reduce the reliance on retrospective auditing. The retailer uses AP Forensics alongside its CODA system to provide daily reporting of potential erroneous payments and to facilitate regular cleansing of the Master Supplier File. AP Forensics has delivered on its promises and covered the investment cost immediately--within 1½ hours of use. FISCAL s proof of concept clearly demonstrated the potential benefits and we are thoroughly pleased with the product. FISCAL deliver a first-class product backed up by friendly, professional and knowledgeable staff. Senior Finance Manager, Debenhams GOVERNMENT: LEEDS CITY COUNCIL Leeds City Council is the 2nd largest metropolitan council in the UK, serving a diverse population of 751,500, in the third largest and one of the fastest growing, greenest cities in the UK. Processing 500,000 invoices per annum on an Oracle platform, the Council sought a move to a preventative solution for identifying payment errors and irregularities. Being on the Cloud platform has also allowed seamless maintenance and swift upgrades. We have been truly impressed with the speed and ease of use of AP Forensics. After two days in-depth training, my team were fully proficient and using it on a daily basis to detect and address payment anomalies. We have already identified and prevented payment errors which more than paid for our initial investment in the product. Payments Manager, Leeds City Council HEALTHCARE: UNIVERSITY COLLEGE LONDON HOSPITALS NHS TRUST UCLH, situated in the heart of London, is one of the largest and highest ranking NHS trusts in the UK, providing first-class acute and specialist services in six hospitals. With approximately 100,000 invoices processed annually through their Oracle system and dealing with nearly 5,000 suppliers, UCLH needed a more streamlined, proactive solution to deal with the problems of duplicate payments and fraud. The trust has been using APF since first implementing it in The purchase of the software has been great value for money with a very fast payback. I strongly recommend it to potential users. Accounting & Treasury Manager, UCLH NHS Foundation Trust CORPORATE: VIRGIN ATLANTIC LTD. As a multi-award winning international airline, Virgin Atlantic were looking for proactive ways to deliver cost savings and increase the already stringent financial controls in their AP operations. They have used AP Forensics since 2008 to significantly cut duplicate payments, reduce a reliance on recovery auditors and move them on their way to becoming a best-in-class, award-winning AP department themselves. AP Forensics is the Ronseal of software programs it does exactly what it says on the tin. It has provided us with the evidence to drive change throughout the AP organisation as well as the confidence that the team are working with the most secure and effective processes. Transactional Manager, Virgin Atlantic

4 KEY BENEFITS OF AP FORENSICS : Improves profitability Detects fraud Reduces risk Cuts costs Promotes synergy with Internal Audit Supports compliance Increases AP control AP Forensics delivered excellent ROI with clear bankable savings within a very short timeframe. Systems Accountant, King s College London I think the purchase of AP Forensics has probably been the best quick-win product I ve seen in my career. Payments Manager, London Borough of Bexley

5 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 help 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. FISCAL has safeguarded hundreds of millions of transactions since it was established in 2003 and is now relied on by over 250 leading organisations. FISCAL Technologies Ltd FISCAL EMEA Headquarters: FISCAL Technologies Ltd 448a Basingstoke Road Reading Berkshire RG2 0LP UK Tel: +44 (0) Fax: +44 (0) smarterap@fiscaltec.com North American Headquarters: FISCAL Technologies Inc World Trade Blvd. Raleigh, NC USA Tel: Fax: smarterap@fiscaltec.com Copyright FISCAL Technologies. All rights reserved. AP Forensics and the FISCAL Technologies name, logo and tagline are trademarks of FISCAL Technologies.