Prospects always want to know why our clients have selected Oversight Insights On Demand™, but rather than just the “why,” it’s nice to show them the value and savings that we bring to the table as well. There are many reasons why our clients find value in Oversight, these include:
- We increase audit scope via our automated analysis. Oversight is monitoring 100% of our clients’ transactions for assurance and we’re able to detect potential fraud, waste, and misuse in a timely manner. We have found that this is an enormous timer saver for our clients, as they are also able to review all of their expense reports more efficiently.
- We help reduce overall effort in reviewing and monitoring their expense reports. As mentioned in number one, we reduce the time it takes to review reports and allow employees to focus their time on other things besides manual audit and expense tracking. With Oversight, they’re able to save time, while still having visibility into 100% of company spend. On average, our clients utilize one full time employee (FTE) or two part-time employees to manage the Oversight program. How many FTE’s is your company currently using?
- We save our clients money via the decreased waste and misuse in their travel spend. Typically, Oversight clients see a reduction in their travel spend of 1-5% per year due to the decreased waste in their programs. Normally, a reduction of just less than 1% will pay for their Oversight subscription, so Oversight is one operational expense that pays for itself.
- We also help to increase policy compliance. On average, an Oversight client sees a reduction of 70% in compliance violations within 9 months of implementing Oversight. We believe that this is because once people know they’re being watched; they will obviously try hard to stay in compliance with company policy.
It’s always great to hear from clients how we continue to bring them value. And while there are many other ways we can bring value to organizations, we have found that these four reasons are pretty standard across the board (not to mention completely compelling)!