Oversight Systems

Oversight takes continuous monitoring to the next level by combining an audit data warehouse, advanced analytics and workflow into a single, integrated, application. By inspecting each step of individual transactions across systems, Oversight identifies errors, control violations and fraud to drive higher levels of performance and compliance. Oversight's platform automates the entire life cycle finding problems in business processes, fixing those problems and proving the problems were resolved. Oversight is the solution of choice for those CFO's, CIO's and CISO's serious about compliance and enhancing their financial performance.

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Latest Content From Oversight Systems

Whitepaper: Leveraging the Economics of Corporate Credit Cards

by Oversight SystemsOct 03, 2008

The use of corporate credit cards is on the rise, for everything from office supplies, to temporary employment services, to fuel, telecommunications and travel expenses. According to RPMG Research Corporation�s 2006 Corporate Travel Card Benchmark Survey Results, corporate travel card spending increased from $120 billion in 2004 to $143 billion in 2006, and growth is expected to continue to $227 billion in 2010. The same study shows that from 2003 to 2005, there was more than a 35 percent increase in corporate procurement card spending. This represents a compound annual growth rate of 12.3 percent, and that level of growth is also expected to continue through 2010.

Corporate cards deliver tremendous economic benefit to companies, in terms of expanded buying power and ease of use � not to mention card-issuer incentives. Again, RPMG reports corporate card purchases represent minimal transaction processing expense. With an estimated average transactional cost of traditional procurement running from $50 to $250, procurement cards can result in corporate savings of 55 percent to 90 percent. However, with this distributed buying power come challenges, such as ensuring adherence to purchasing and expense policies, as well as detecting misuse and fraud. Studies show the negative impact of such violations is greater than the average transaction value. Individual violations may be small, but the accumulated amount can become a significant problem.