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.