Accounts Payable Audit Software
AP Forensics® is world-class accounts payable audit software that detects duplicate payments, invoicing errors, compliance issues and supplier fraud. It is designed to be used by Accounts Payable teams to increase control and improve processes, preventing errors from happening. Due to its ease of use we always recommend using it before a payment run, avoiding internal recovery costs, which are on average £20 per invoice. This cost increases as the invoice gets older.
Using over 47 highly specialised, proven proprietary search algorithms and sophisticated pattern matching techniques, AP Forensics® generates a detailed report of potential duplicate payments and errors you may have made or are about to make.
10 benefits of using AP Forensics® include:
- Prevention and Protection - The software allows you to pre-process your upcoming payments so you should never pay a duplicate invoice again. It ensures working capital is maximised and protects the Accounts Payable team from unscrupulous suppliers.
- Create Cost Efficiencies - Audit all your past payment data in one easy step. Any money recouped through recovery goes straight to your bottom line and increases your profit or surplus.
- Improve Processes - The duplicate payments and errors report clearly shows you the reason for the duplicate and enables you to improve your processes to prevent it happening again.
- Time Saver – Used just before your payment run, it can prevent credit notes and time consuming recovery. AP Forensics® can be installed and run to find duplicate payments and errors in under an hour.
- More Control - Puts you in control of your accounts payable audit process and enables you to do this both rapidly and cost effectively.
- Improved Compliance and Audit Sign Off - As part of a set of process controls AP Forensics® helps you manage your own compliance as well as commitments to your internal audit guidelines.
- Reduced External Consultant Fees - You no longer need to pay large commissions to external recovery auditors for recovering payments that you can do effectively yourself.
- Ease of Use – Anyone in your Accounts Payable team can use the software and you don’t need a degree in auditing. No re-training costs required.
- Low Cost of Ownership – Training and installation is very quick and designed to work straightaway. Free online training each year is offered to ensure ownership costs are minimised.
FISCAL Technologies is the only organisation worldwide dedicated solely to producing best-in-class Accounts Payable audit software. Over the years we have analysed client data from all the major financial systems and in 100% of cases we have discovered accidental duplicate payments and errors of which our clients were unaware.
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