Company Research Report: FISCAL Technologies

Company Overview

• Name: FISCAL Technologies

• Mission: To protect working capital by continuously preventing financial loss and eliminating supplier risk while maintaining regulatory compliance.

• Founded: 2007

• Founders: No information is available

• Key People:

• David Griffiths: CEO

• Lesley Reeve: COO

• Frances Lawrence: CFO

• Daniel Cashen: Chief Product Officer

• Headquarters:

• EMEA Headquarters: 448 Basingstoke Road, Reading, RG2 0LP, UK

• North America Headquarters: FISCAL Technologies, Inc., PO BOX 99551, Raleigh, NC 27624

• Number of Employees: No information is available

• Revenue: No information is available

• Known For: Protecting £340 billion of annual spend, analyzing 60 million customer invoices annually, and providing an annual average saving of £258 thousand per customer.

Products

1. Transactions

• Description: Forensic analysis of transactions to minimize duplicate payments, transaction errors, and potential fraud.

• Key Features: 145,000 new invoices analyzed daily, AI-powered risk analysis, customizable reports, supplier and transaction risk monitoring.

2. Supplier Risk Management

• Description: Tools to identify and mitigate supplier-related risks.

• Key Features: Continuous monitoring for credit score changes, sanction lists checking, adverse media alerts, ESG compliance.

3. Automated Supplier Statement Reconciliation

• Description: Software for reconciling supplier statements.

• Key Features: Rapid processing (average seven seconds per statement), batch capabilities, recovery of credits, overpayments, and discrepancies.

4. Duplicate Payment Detection

• Description: Automated detection of duplicate invoices missed by ERPs.

• Key Features: AI-powered analysis, finds high-risk invoices, resolves discrepancies before payment runs.

5. Recovery Audit Service

• Description: Service to find and recover overpayments and discrepancies.

• Key Features: Transaction audit over the last 2-3 years, recovery from suppliers, improves cash flow and ledger accuracy.

6. Custom Reporting

• Description: Customizable reporting tools for P2P analytics.

• Key Features: AI report generator, data visualization, exportable and shareable reports, tailored reports by region, unit, or team.

Recent Developments

1. Product Updates:

• September 1, 2024: Addition of transaction categorization, summary views, and bulk actions for transaction management.

2. Recognition and Awards:

• July 1, 2024: Finalist in the Thames Valley Tech & Innovation Awards.

• July 15, 2024: Finalist in the Thames Valley Business and Community Awards for Business of the Year.

3. Partnerships:

• August 1, 2024: Strategic partnership with Kefron to provide enhanced touch-free invoice processing automation for AP teams.

4. Events:

• November 5, 2024: Participation in the PPN Future of Finance Lectures discussing fraud detection and prevention.

• November 12-13, 2024: Attendance at the Finance Director’s Forum focusing on protecting spend and optimizing working capital.

Conclusion: FISCAL Technologies is a forefront company in providing innovative financial risk management software and services. With its robust suite of solutions for transaction processing, supplier risk management, and detailed analytic reporting, FISCAL Technologies continues to assist organizations globally in improving financial control and protecting their working capital.