Controls Aren't Enough to Prevent Cash Leakage in Payables
If you’ve worked in Accounts Payable (AP), you know how easy it is to miss-key invoice details, submit multiple entries for the same invoice, and deal with lost discounts due to inefficient approval processes. Even the slightest detail, such as an extra digit in the dollar amount, or a...
The Necessity of Digital Transformation for Finance
Everyone wants the latest and greatest devices when it comes to phones and other gadgets. And it's the same for business, as finance leaders manage the digital transformation of business, staying current on technology advancements is essential. As technology evolves, so must the way we run our...
You’ve seen the Headlines, Corporate Fraud is on the Rise
“Ex-bookkeeper arrested for stealing more than $185,000 from San Antonio homebuilder.”
Oversight can detect things you can't detect. You can write the rules the way you need to catch the errors. It is an amazing beast of an application, slicing and dicing everything!
The greatest benefit is being able to catch what we couldn't catch before, but also to have good reporting to show upper leadership. If anyone is thinking about using Oversight, or is unsure, just take a look at it. You'll be amazed!
Some of the biggest benefits we’ve received with Oversight is the change in employee behavior. The more employees we engage and make aware of the policy, the more the exception rate for the employee decreases.
Since using Oversight, we have been able to mitigate risk, see behavioral changes within the company to align with company policy, find duplications, and actually get those corrected before they're fully processed.
We had a small team of people managing the T&E process for thousands of employees around the globe. We could only do spot checks based on certain criteria so we knew we had gaps in our process. But manually reviewing so much data felt like I was trying to swallow the ocean.
The Oversight for Payments product module came with a library of predefined integrity checks. By enabling is to easily identify the root cause of errors, Oversight is helping us develop and implement best practices for our transactional processes.
