Case Study: King’s College London recovers £1.85m with FISCAL Technologies

FISCAL Recovery Audit returns £1.85m to Kings College London’s bottom line

Kings College London's accounts payable team was challenged to identify and recover erroneous payments due to a lack of internal resources and time. The team processed a high volume of invoices through two ERP systems but could not manage the historical audit required. They engaged the professional services team from FISCAL Technologies to perform a recovery audit and statement reconciliation service on a no-win, no-fee basis.

FISCAL Technologies implemented its solution by analyzing five years of payment data with advanced software and its consultants' expertise. The vendor's team verified erroneous payments, contacted suppliers to recover funds while maintaining relationships, and reconciled supplier statements. As a result, FISCAL successfully recovered a total of £1.85 million for Kings College London within just six months, returning significant funds directly to the institution's bottom line.

Kings College London’s

Simon Cruickshank

Chief Accountant