Oversight Systems

Oversight Systems is a U.S.-based company, founded in 2003,[1] which develops and markets computer software that is intended to help businesses identify employee and vendor fraud, misuse and errors with expense reporting, and billing issues.[2] The software also helps public companies with the monitoring and testing of controls associated with Sarbanes-Oxley Act and the Foreign Corrupt Practices Act (FCPA) compliance.[3] Oversight's claimed target customers are companies taking in US$600 million or more in yearly revenue.[4]

Oversight Systems
Websitewww.oversight.com Edit this on Wikidata

Ownership

On September 2, 2020 Oversight was acquired by TCV,[5] with Luminate Capital Partners retaining a minority equity partnership.

Oversight Systems' software is intended to detect payments to suspicious vendors and alert authorities when insufficient people are involved in complicated business processes.[6] If a transaction or associated entity is in violation of a given policy, a report is generated and the workflow system transmits the report via e-mail, the user interface and periodic reports.[7]

References
  1. Oversight Systems
  2. Monitoring firm raises $7 million, Atlanta Business Journal, 9 Sept. 2004
  3. Ten Questions for Oversight Systems, Forbes, 16 Sept 2009
  4. ACL vs Oversight Systems
  5. "TCV Makes Strategic Growth Investment in Global Spend Management Leader Oversight". Bloomberg.com. 2 September 2020.
  6. "Patrick Taylor, CEO of Oversight Systems, on Business Transactions Analytics and SAP HANA". data-informed.com. Archived from the original on 2013-05-27.
  7. "Oversight Systems: automated transaction monitoring for FCPA compliance risk | Compliance Week". www.complianceweek.com. Archived from the original on 2016-11-17.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.