Reading, UK – 23rd October 2009: FISCAL Technologies, provider of world- class accounts payable audit software, showed its support for its public sector finance partners this week by sponsoring the Developments in Police Finance Conference held in London on 22nd October.

Organised by the Chartered Institute of Public Finance and Accountancy and attended by senior finance officers in police authorities, the conference examined the latest developments within police accounting and finance, as well as looking at how police authorities can embrace the efficiency challenges and achieve significant financial improvement.

Conference delegates were invited to visit the FISCAL stand to receive a free Duplicate Payment Health Check and software trial. As police authorities face ever increasing cost-cutting activity, the need to increase their efficiency is paramount. With this in mind, many police finance managers were keen to visit FISCAL Technologies’ stand at the conference to find out how its innovative audit software can prevent vital funds being lost through duplicate payments, invoicing errors and supplier fraud.

FISCAL is an established provider of unique, specialist audit technology to the accounts payable profession, and works closely with its customers to deliver innovative solutions that meet their day-to-day needs. This in turn helps establish accounts payable best practice. Carrying out a health check proves the immediate value of the AP Forensics software and highlights real areas for cost saving and improvement. Once the software is installed, Accounts Payable managers can identify areas where they are losing money through duplicate payments, invoicing errors and supplier fraud. AP Forensics suite is already trusted by many local authorities, hospital and housing trusts and large companies across the UK to save them hundreds of thousands of pounds in duplicate payments and other errors.

AP Forensics works by analysing accounts payable transactions using over 47 different checks to avoid accidental duplicate payments, invoicing errors, compliance issues and supplier fraud. Most accounting systems are designed to carry out only basic checks, leaving a need for additional specialist software like AP Forensics to prevent medium to large organisations losing sometimes hundreds of thousands of pounds a year. AP Forensics is simple and quick to use and sits alongside any accounting system. Depending on individual organisations’ requirements, it is available in Express, Business or Enterprise versions to suit any size budget.

David Griffiths, FISCAL’s Director of Customer Development, said: “We were very keen to sponsor the Developments in Police Finance Conference this week and to show support for our customers in that field. Working with so many public sector organisations, we know the pressure they are under on a day-to-day basis to continually deliver greater efficiency gains and our goal is to provide easy-to-use solutions that help them do this and that really empower accounts payable teams.”

He continued “With our simple but powerful tools that can be used on a daily or weekly basis to protect organisations’ valuable working capital we’re already recognised as a leader in the field of accounts payable audit solutions. In this tough economic environment organisations are having to dig deeper than before to achieve cost savings. Our software provides them with fantastic ROI and as result we have seen significant growth this financial year.”

FISCAL Technologies Ltd, founded in 2002, provides world-class accounts payable audit software for corporations and government agencies to detect duplicate payments, fraud, invoicing errors and compliance issues. Organisations trust these solutions to meet their needs for cost reduction and increased control and protection of their working capital.

FISCAL’s AP Forensics® suite consists of three core modules to analyse invoices,
supplier accounts and VAT line items. Using industry-leading algorithms and pattern-matching technology, these modules have been designed specifically for Accounts Payable staff to easily run on a weekly or constant monitoring basis. They can work alongside any accounting system and have been used to scan hundreds of millions of transactions across the globe. For more information, please visit www.fiscaltec.co.uk or www.fiscaltec.com.