Oversight | AI Fraud Detection Software Company
How It All Began...
In the early 2000s, finance teams had few options for managing spend risk. You could do random samplings, hire a recovery audit firm, or investigate your ERP’s auditing tool. But you would only spot a fraction of the payment mistakes, and the same errors would keep happening repeatedly. That’s when three network security pros realized that the algorithms they used to track network patterns, just might be able to track spend patterns too.
So, in 2003, Oversight was born. As an early pioneer in artificial intelligence (AI), and with Oversight technology, we built software that would detect patterns of spend errors and misuse. But then its leaders realized that simply pointing out mistakes wasn’t enough. Finance teams needed an easier way to fix these mistakes – and then prevent them from happening again. So, the Oversight team built capabilities for case management, reporting, and more. Word spread quickly, and soon some of the world’s largest organizations were turning to Oversight technology to manage everything from T&E and P-Cards to payables.
Today, Oversight is still finding new ways to help companies tackle hidden spend risk. We’re constantly investing in platform enhancements that make it easier to manage spend across disparate teams, divisions, locations, and systems. And we’re doing it for hundreds of leading organizations, including sixty-two of the Fortune 500 with Oversight technology. Now 100% of their spend is monitored and analyzed, they finally have the confidence that nothing’s getting by them now.