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Oversight Unveils Software Release 7.0.3 for Expense Audit Solution

Mon, Jun 15, 2015

ATLANTA –June 15, 2015 – Oversight Systems, the leading operational expense solution, today announced the release of Oversight Insights On Demand™ Version 7.0.3. Now available to all customers, the latest version offers enhanced design and usability, with an emphasis on making usage better and easier for customers.

Trend Analytics, one of the key capabilities of the 7.0.3 release, is a driver in the company’s mission to identify the most important insights from within customer data. Insights On Demand works by first highlighting risky and non-compliant transactions.  Second, the Oversight platform leverages evidential reasoning to identify the patterns of behavior in employees, merchants, and spend categories that need further review. Trend Analytics then identifies the “big picture” view of the analysis. “This newest Trend Analytics feature gives users a headline-type view of what is most important to address when using the Oversight Insights On Demand™ platform,” said Oversight CEO, Patrick Taylor.

Oversight Insights On Demand™ is a web-based application designed to assist travel & expense, purchase card, and accounts payable programs in automating policy compliance and identifying fraud, misuse, and errors.  The Software as a Service solution applies sophisticated forensic analytics, combined with transaction monitoring to review 100% of the expense items. Oversight displays non-compliant spending via plain-language alerts, integrated case management, and powerful dashboards that segment user data with ease, simultaneously shaping policy while reducing fraud, waste, and misuse.

“Oversight has been hard at work the last few months to improve the user-experience and functionality of Insights On Demand,” Taylor continued, “Making it easier for users to automate the compliance process and reduce expenses.”

The version 7.0.3 release also includes:

  • Support for Google Chrome
  • Integrated help “Walk Throughs” that show users how to perform common tasks
  • Improved Drill Down “breadcrumbs” providing clearer tracking
  • Improved handling of complex, multi-transactional comparison and analysis 

In February 2015, Oversight announced the addition of a Mileage Insight. The Mileage Insight is the latest in Oversight’s T&E offering and identifies duplicate mileage submissions, mileage and gas purchases expensed for the same trip, any excessive mileage reimbursement for an employee as well as mileage expensed for a rental car purchase. Built based on customer feedback, the Mileage Insight is the first of many continual enhancements Oversight plans to make this calendar year.

Oversight is currently offering qualified prospects a free trial that includes the analysis of 90 days of data. This trial allows companies to experience with their own data how Insights On Demand works.

About Oversight

Oversight Insights On Demand™ is a web based software solution that automates spending program compliance by analyzing 100% of expense report, purchase card, and accounts payable transactions to identify suspicious activity, non-compliant purchases, and inefficient and wasteful spending.  The visibility Oversight offers into the interaction between policy and behavior offers opportunities for ongoing improvement, and helps companies make smarter business decisions, every day.

Oversight makes a difference within the companies it serves, and has the experience to prove it; analyzing $1.9 trillion in expenditures annually at Fortune Global 5000 companies and government agencies. Oversight’s solution is strengthened by partnerships with Concur, Oracle, SAP, and TSYS. www.oversightsystems.com.

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