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Last week, Oversight Systems traveled to Palm Springs, California to participate in the NAPCP 15th Annual Commercial Card and Payment Conference. The four-day conference was held at the Renaissance Esmeralda Resort in Palm Springs, and we had the pleasure of taking part in most of the activities. I would like to note that the temperature in Palm Springs was unseasonably warm for April, and the high temps started when Oversight arrived on the scene, and departed around the same time we left town. We like to think we brought the heat!
From my perspective, this was one of the most exciting conferences I’ve attended. Due to the increased efforts by our marketing department and business development team, it seemed our brand exposure has increased among our peers and conference attendees in the last few months, which was really nice to see.
I also learned a few things from this conference; Larger companies are aggressively moving away from checks and ACH payments to corporate card, virtual card, and ghost card payments. These same companies are increasing their payment terms for checks and ACH as a way to encourage the use of cards. For larger companies, traditional payment methods are going to continue to decrease.
I also learned that issuing banks are becoming more interested in how they can help their corporate customers ensure corporate card policy compliance. Access to data is a common challenge for companies in the compliance space, and they are excited by how the TSYS-Oversight partnership can help to address this issue directly with banks. I was surprised to see the number of companies that have active projects to address corporate card compliance, which tells me this is an issue of extreme importance when it comes to corporate spending. Our customers are among the most aggressive in this regard, and we are happy to be a part of the solution.
The NAPCP membership is one of the most collaborative groups we engage. The participants consistently speak about the things they pick up from other members at the conference. Our very own VP of Solutions, Manish Singh, gave a presentation at the Thursday morning session. The presentation, titled “Automated Identification of Waste and Abuse,” featured a demo of our Insights On Demand product and we were able to provide a first-look at our software to potential customers.
Speaking of our solution, while at the conference we were delighted to hear first hand from our happy customers about the value our technology provides for them. It was especially great to hear that our level of customer service sets us apart from our competitors, and is spectacular enough that people comment on it when they see us in public.
Referrals are important to this group. Our customers are fantastic references and have referred dozens of other companies to us, and some even mentioned us by name during their break out sessions. It’s the little things, really, and it was great to see how Oversight is making an impact in our customer’s lives.