FISCAL Technologies’ NXG Forensics cloud-based P2P risk management and fraud prevention software will help the Civica’s customers across local government to improve visibility and reduce risk across their finance function.
Using artificial intelligence (AI) and automation technology, the software analyses every single payment going through an organisation, performing financial forensic analysis to highlight supplier payment errors, prevent fraud and spot inconsistencies in P2P processing.
Lorraine Smith, divisional managing director, financials at Civica said: “We are delighted to be partnering with FISCAL Technologies to bring this new AI-powered technology to our financial customers. NXG Forensics fits perfectly into Civica’s cloud financial software suite and adds significant additional value for our customers, by providing an extra level of assurance and audit controls to avoid inappropriate payments. We are very much looking forward to working with the FISCAL Technologies team.”
The digital transformation of the UK public sector
Public sector involvement
The preventative software has been introduced to reduce the cost of financial operations, increase profitability and drive process improvement.
With both companies already working within the public sector, these improvements should help the efficiency of services provided by the more than 140 local authorities that employ Civica’s systems.
“We’re excited to enter into a collaboration with such a successful global business as Civica. The public sector is an area where FISCAL Technologies has a major presence and one where we are always looking to expand our reach,” said Colin Rigby, director of strategic alliances & channel at FISCAL Technologies.
“Since its foundation, Civica has built a reputation for excellence in providing technology solutions to a vast range of public sector organisations. To sustain this growth, it’s crucial that finance teams at Civica have the capabilities to protect organisational spend and drive process improvement. We’re looking forward to helping the company achieve this, and working to ensure the public sector has the tools in place to reach new levels of financial competence.”