Oversight Systems is a U.S.-based company, founded in 2003,[1] which develops and markets computer software that is intended to help businesses identify employee and vendor fraud, misuse and errors with expense reporting, and billing issues.[2] The software also helps public companies with the monitoring and testing of controls associated with Sarbanes-Oxley Act and the Foreign Corrupt Practices Act (FCPA) compliance.[3] Oversight's claimed target customers are companies taking in US$600 million or more in yearly revenue.[4]
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Ownership edit
On September 2, 2020 Oversight was acquired by TCV,[5] with Luminate Capital Partners retaining a minority equity partnership.
Oversight Systems' software is intended to detect payments to suspicious vendors and alert authorities when insufficient people are involved in complicated business processes.[6] If a transaction or associated entity is in violation of a given policy, a report is generated and the workflow system transmits the report via e-mail, the user interface and periodic reports.[7]
References edit
- ^ Oversight Systems
- ^ Monitoring firm raises $7 million, Atlanta Business Journal, 9 Sept. 2004
- ^ Ten Questions for Oversight Systems, Forbes, 16 Sept 2009
- ^ ACL vs Oversight Systems
- ^ "TCV Makes Strategic Growth Investment in Global Spend Management Leader Oversight". Bloomberg.com. 2 September 2020.
- ^ "Patrick Taylor, CEO of Oversight Systems, on Business Transactions Analytics and SAP HANA". data-informed.com. Archived from the original on 2013-05-27.
- ^ "Oversight Systems: automated transaction monitoring for FCPA compliance risk | Compliance Week". www.complianceweek.com. Archived from the original on 2016-11-17.
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