Oversight had the privilege to participate in Concur's annual sales kickoff event, Ignite 2014, in Bellevue, WA on October 15. Nearly 40 Concur business partners joined close to1,000 Concur global sales resources to get ready for another year of making travel and expense management better for companies and travelers around the world. Oversight had the opportunity to speak to nearly 200 of these resources to discuss the ways in which Oversight Insights On Demand work together with various Concur solutions to ensure the effective use of travel expenditures.
The Concur company culture is very obviously oriented toward learning as much as possible to help Concur customers and travelers. Our conversations with our friends at Concur were noticeably different in that Concur resources really want to know about their partners and their solutions. Concur resources ask good questions and sincerely want to understand how customers can benefit from partner solutions that are integrated with Concur. A number of Concur resources shared with us specific customer requirements for automated expense report monitoring and were well versed in the various regulatory requirements that often drive this interest. In particular, we discussed requirements for monitoring and analysis to drive visibility into anti-bribery and corruption efforts to support US FCPA and UK Bribery Act requirements as well as aggregate spend visibility as part of the US Sunshine Act.
Our colleagues at Concur very quickly connected the values of automated expense report analysis and monitoring with key Concur solutions like Concur Audit Services and Concur Service Administration. Oversight Insights On Demand for T&E provides the automated identification of unexpected results that could mean duplicate submissions across travelers and/or expense periods, suspicious out-of-pocket expense behavior, out-of-policy purchases, and misclassifications (whether honest mistakes or attempts at concealment indicative of waste and abuse). Oversight helps Concur customers to identify high-risk travelers whose receipts are worthy of inspection and review by Concur Audit Services and overall behaviors that might require modifications to existing policies or new policies that need to be initiated through Concur Service Administration.
Our colleagues at Concur were also interested to learn of the new Oversight Connector for Concur that leverages Concur Connect and provides customers with the ability to authorize direct data acquisition by Oversight Insights On Demand from the Concur Cloud. This eliminates the need for any customer intervention when it comes to the automated monitoring and analysis of expense reports. Concur's efforts to unleash the value of the expense data in the Concur Cloud are proving valuable and exciting to customers. We were impressed with the consistent interest by the Concur sales team in helping their customers leverage this valuable information.
At Oversight, we work with most of the travel and expense management solutions on the market today. Most have the same the same basic information available for Insights On Demand to monitor and analyze. To us though, there is no surprise as to the "why" behind the market dominance of Concur Travel and Expense Management. It's easier to acquire data, the data we acquire is richer for meeting our analysis requirements, and the flexibility for adapting to the Insights we provide our customers with Insights On Demand is unmatched. But that's just the technology piece of the equation. The true measure of a company and its solutions is the people behind all of that. We have had a lot of first-rate interaction with development, business development, and marketing. Our interaction with the sales team reinforces our belief in the team and the solution. When our customers ask us about our experiences with travel and expense management solutions around the world, Concur is our recommendation for the way to go. When they ask us why, the reason at he top of the list is, "Concur customers and Concur users are always the happiest." As Concur continues to add value through exposing the Concur Cloud to high value applications like Insights On Demand, this will continue to be true.