May 25, 2016—Atlanta, GA— Oversight Systems, a leading operational expense analysis company, today announced it has been selected as a Cool Vendor in the Procurement and Sourcing Technology report, 2016 by leading analyst firm, Gartner, Inc. The report provides key findings and recommendations for procurement and IT leaders to keep their business compliant and operating at peak performance. A complimentary copy of the report is available here.
According to the report, “By 2020, over 26 percent of global companies will use advanced analytics and proprietary algorithms in one or more areas of their procurement, sourcing and supply chain operations.” – Gartner, Cool Vendors in Procurement and Sourcing Technology, 2016 was authored on May 9, 2016 by Desere Edwards, Deborah R. Wilson, Nigel Montgomery and Ray Barger, Jr.
“We believe Oversight’s inclusion in Gartner’s Procurement and Sourcing Technology, 2016 report is recognition of the breakthrough value proposition of our Insights On Demand (IOD) solution. The deep domain expertise embedded in our packaged analytics deliver the insights customers should be looking for across spending and travel expenses,” said Patrick Taylor, CEO of Oversight. “The ‘turnkey’ IOD solution delivers business and regulatory insights that improve efficiencies, increase policy compliance and savings/cost avoidance for our industry-leading customers.”
Oversight Insights On Demand™ is designed to assist travel & expense, purchase card and accounts payable programs in automating policy compliance. The technology applies sophisticated artificial intelligence based forensic analytics, to comprehensively examine expense transactions. Oversight displays non-compliant spending via plain-language alerts, integrated case management, and powerful dashboards that segment user data with ease. By identifying trends and patterns of behavior, Oversight allows organizations to focus on the employees and vendors driving the majority of inappropriate activity.
Oversight is used by commercial and government organizations to monitor over $2 trillion in spend annually. Oversight has a proven record of innovation in analytics and real-world results. The world’s largest corporations and government organizations rely on Oversight to discover hidden opportunities for improving compliance within their financial operations.
Gartner does not endorse any vendor, product or service depicted in our research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Oversight Insights On Demand™ is a web-based software solution that automates spending program compliance by comprehensively analyzing expense report, purchase card and accounts payable transactions to identify fraud, noncompliant purchases, and inefficient and wasteful spending. Oversight allows you to proactively monitor business transactions for risk, identify employees and vendors exhibiting patterns of potentially improper behavior or collusion and act on those issues.
Oversight makes a difference within the companies it serves, and has the experience to prove it; analyzing $2 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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