Concur Detect by Oversight Delivers AI-Driven Spend Risk Analysis
ATLANTA – January 25, 2021 – Oversight, the global leader in spend management and risk mitigation technology, today announced the expansion of its relationship with SAP® Concur®, the world’s leading brand for integrated travel, expense, and invoice management. Oversight joins the SAP Concur partner program as a solution extension partner with the launch of Concur® Detect by Oversight. This new SAP Concur offering leverages Oversight’s audit solutions for travel and expense and purchase card programs to help organizations manage and optimize spend.
Oversight’s AI-powered technology simplifies expense auditing with advanced automation and intelligence that quickly identifies fraud, errors, and wasteful spend to achieve better financial and compliance outcomes. Concur Detect by Oversight provides comprehensive, continuous transaction monitoring and analysis, both pre- and post-payment. The solution mitigates immediate risks, such as spend at inappropriate venues, and identifies hidden risks, such as fraud schemes, which are only uncovered by evaluating spend patterns over time.
"Oversight sits at the heart of an organization's finance transformation by empowering audit and risk management teams to act on a mix of real-time data and longitudinal trends that provide a complete view of organizational spend risk," said Terrence McCrossan, CEO of Oversight. "We're excited to extend our SAP Concur partnership and offer our AI-powered solutions directly to the SAP Concur user base. Our enhanced relationship will help ensure finance teams are fully equipped to analyze spend and prioritize risk to protect their organizations from fraud, misuse, and waste."
Already trusted by some of the most advanced global companies, the combination of Oversight’s technology and the strength of the SAP Concur platform positions Concur Detect by Oversight as one of the world's leading spend risk mitigation tools.
"Oversight’s risk-based auditing approach is widely adopted by leading enterprise organizations, and our expanded SAP Concur relationship will continue this momentum,” said McCrossan. “We look forward to supporting spend management and cash flow optimization initiatives of other enterprise organizations while reaching new mid-market and global organizations.”
For more information about the platform and how companies are using it to reshape their finance operations, visit oversight.com.
The world's largest companies and government agencies trust Oversight to find and manage enterprise spend risk no matter where it resides. Oversight's AI-powered spend management platform monitors and analyzes 100% of spend transactions, reducing audit effort, improving controls, and eliminating ERP data silos. With full visibility into spend, Oversight customers find and prioritize spend risk, identify errors and fraud, and eliminate process breakdowns that would otherwise go undetected. Oversight reduces out-of-policy spending by 70% while maximizing audit efficiency and eliminating cash leakage. https://www.oversight.com/
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