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Oversight recently had the honor of being featured on a podcast for Pymnts.com. Katie Harrison, the Associate Product Director at TSYS, and Manish Singh, Vice President of Solutions, represented Oversight. During the 7-minute interview Singh and Harrison discussed some of the barriers to card use, and how Oversight and TSYS take the hassle out of corporate card spending and monitoring transactions.
In April, Oversight and TSYS announced their formal partnership and presented to the public the Oversight Insights On Demand – Powered by TSYS solution. Insights On Demand performs automated analysis, first by reviewing 100 percent of the transactions, then delivering results through a management dashboard and analyst workbench with built-in workflow capabilities. The solution itself addresses the three key barriers to card adoption, namely the lack of operational spend control and associated risk with decentralized purchasing.
“What you find with Oversight Insights On Demand is that what we identify in potential findings tends to be far less than what these organizations are viewing on a manual sample basis,” Said Manish Singh during the podcast. “We’ll look at 100 percent of the transactions, and on average identify less than 5 percent of those transactions that are attributable to fraud, waste and misuse. There’s efficiency from a utilization standpoint, while at the same time an increase in the scope of their audit, and a reduction in the cost of compliance.”
Through partnering with TSYS, TSYS corporate card customers can now seamlessly send data to Oversight via the Oversight TSYS Connector. “This helps cut lengthy implementations and time-consuming data-mapping activities that the corporate customers may have had to undertake before.” Katie Harrison said in the interview. “Through our partnership, TSYS and Oversight have made possible a seamless integration of our technology ─ and we’re excited about the value this brings to corporate financial customers.”
When asked why Oversight chose to partner with TSYS, Singh said, “We’re all about taking friction out of the process for our clients, and TSYS presented us with the perfect opportunity to take down a key barrier that’s related to data acquisition and delivering a service to corporates. In the past, while corporates were involved in providing us their own data, it would often take them a significant amount of time to get that data to us. Through the TSYS-Oversight Connector, we’ve been able to get that data through just turning on a switch.”
We could go on and on about the innovative solution and our happy partnership with TSYS, but instead we’ll let Jeff Green and the Pymnts.com team do it for us. Listen to the podcast or read the transcript on Pymnts.com.