Oversight Systems

Oversight Systems is a U.S.-based company, founded in 2003,[1] which develops and sells computer software that helps businesses continually check for employee and vendor fraud, misuse and errors with expense reporting, purchasing cards and billing.[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 

Ownership

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

Oversight Systems' software detects payments to suspicious vendors and alerts the proper authorities when insufficient people are involved in complicated business processes.[6] If a transaction, or associated entity, is in violation of a given policy an exception is generated and the workflow system transmits the exception via e-mail, the user interface and periodic reports – depending on the operational requirements.[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. https://www.bloomberg.com/press-releases/2020-09-02/tcv-makes-strategic-growth-investment-in-global-spend-management-leader-oversight
  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.
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