Log in

FISCAL release new weapon against supplier fraud

Wednesday 20th February, 2013

FISCAL Technologies have released Version 6 of their AP Forensics® software suite which, as well as incorporating significant upgrades to existing functionality, also includes the addition of Fraud Tester - a module which has the ability to be a game-changer in the fight against fraud in AP.

According to the 2011 Annual Fraud Indicator published by the National Fraud Authority, 41% of procurement professionals stated that fraud in the purchase-to-pay lifecycle “poses a significant risk” to their organisations, but less than 30% of respondents have ever undertaken a fraud risk measurement exercise. FISCAL’s new Fraud Tester module now allows them to do just that.

By conducting over 12 internationally-recognised fraud tests on accounts payable transactions and master supplier file entries, Fraud Tester produces a summary report which scores and ranks unusual or potentially fraudulent activities. When combined with the results from other AP Forensics® modules, accounts payable now have access to a comprehensive, evidence-based rundown of potential high risk suppliers or transactions at their fingertips.

Howard Durdle, Chief Technnolgy Officer said, “This release represents a huge step forward in terms of functionality, performance and ease of use and adds further immediate value to our customers' bottom lines. Not only is Version 6 loaded with the improved workflow, reporting and user interface features requested by our customers, the tighter integration of all six modules - including Fraud Tester— gives users access to a set of powerful analytical tools we believe is unrivalled in the marketplace.”