AI-powered P2P risk management outfit Fiscal has a new partnership with business software outfit Advanced.
The partnership will enable Advanced’s Enterprise Resource Planning (ERP) and Financial Management solution customers to strengthen their Purchase-to-Pay (P2P) fraud and risk protection with Fiscal’s stuff.
It means, according to the company, that customers can protect their organisational spend from the increasing fraud, risk and compliance threats in their Accounts Payable and P2P processes. Fiscal ’s NXG Forensics platform augments Advanced’s ERP solutions with a continuous invoice and supplier analysis, identifying and blocking high-risk payments to preserve working capital.
According to a recent ACFE report, 80 percent of organisations still rely on external audits, yet only four percent of fraud is detected by external audit. The partnership means that customers can improve their transaction processing.
Fiscal ’s platforms have processed over one billion transactions with a value of over £5 trillion in spending, it says. Its global customer base is closely aligned with Advanced’s ERP customer profile, ensuring they can immediately benefit from the platform’s P2P spend protection.
Fiscal Technologies Head of Strategic Alliances and Channel Colin Rigby said: “We’re excited to partner with Advanced as we focus our combined energies on serving customers with an industry-leading P2P Risk Management platform.
“This relationship represents a powerful opportunity for Fiscal Technologies to expand our presence in the enterprise ERP market significantly.”
