FISCAL Technologies
FISCAL Technologies provides AI-based solutions to protect working capital, prevent financial loss, and manage supplier risk, serving industries such as local government, healthcare, and corporate services.
Services
FISCAL Technologies offers a range of services focused on protecting working capital and eliminating supplier risk. These services include fraud protection, duplicate invoice detection, recovery audit, working capital optimization, and statement reconciliation. The company also provides solutions for enhancing cost efficiencies and managing supplier risk. By leveraging advanced AI-based monitoring, FISCAL Technologies assists businesses in maintaining regulatory compliance and improving their P2P processes. Additionally, the company offers credit score monitoring, sanctions monitoring, and ESG monitoring for suppliers, ensuring comprehensive oversight and risk management.
Industries Served
FISCAL Technologies caters to a variety of industries, including local government, healthcare/NHS, and corporate/business services. The company’s solutions are widely utilized by local government organizations across the UK to identify transactional and supplier risks. In the healthcare sector, over 40 AP teams in both public and private healthcare organizations depend on FISCAL Technologies' solutions to streamline their financial processes and mitigate supplier-related risks. The company also serves national retail chains and international currency providers, highlighting its versatility and broad industry appeal.
NXG Forensics Platform
The NXG Forensics platform by FISCAL Technologies is a key tool designed to recover historical overpayments and prevent unnecessary payments. The platform offers automated statement reconciliation, which improves ledger accuracy and recovers overpayments, credit notes, and rebates. Additionally, the NXG Forensics platform employs AI-powered risk analysis software that analyzes over 145,000 new invoices daily, accounting for over £300bn each year. This technology enables businesses to detect potential fraud, errors, and duplicates, providing immediate alerts to users for timely intervention and resolution.
Supplier Monitoring
Supplier monitoring is a critical component of FISCAL Technologies' offerings. The company's advanced platform conducts daily checks on every supplier, monitoring for credit scores, appearance on sanction lists, and ESG-related adverse media. This continuous monitoring helps businesses identify suppliers with low credit ratings, potential sanction issues, or adverse environmental, social, and governance news, thereby mitigating risks associated with supplier relationships. The comprehensive supplier monitoring service ensures that businesses maintain healthy and compliant supply chains.
AI-Powered Transaction Monitoring
FISCAL Technologies utilizes AI-powered transaction monitoring to safeguard against fraud and financial errors. The platform continuously monitors transactional and supplier data, identifying risks and providing immediate alerts for potential fraud, duplicates, and other issues. This proactive approach allows users to address problems in real-time, reducing cash leakage and enhancing process efficiencies. By analyzing vast amounts of data each day, FISCAL Technologies' AI-driven system ensures that businesses can confidently manage their transactions and supplier interactions with greater accuracy and security.