ATLANTA – February 19, 2014 – Oversight Systems, today announced a new, integrated cloud-based travel and expense (T&E) trend analysis solution built on the T&E Cloud Platform with partner, Concur(NASDAQ: CNQR), the leading provider of cloud-based travel and expense management solutions. Now available in the Concur App Center, Oversight Connector for Concur performs valuable T&E trend analysis on demand, resulting in the quick delivery of critical insights and recommended actions to address wasteful employee T&E behaviors, identify potential FCPA and other compliance risks and prevent financial loss. The Oversight Connector for Concur compliments Oversight’s additional financial systems integrations, which together offer a holistic picture of a user’s behavior over time and across systems.
The Oversight Connector for Concur enables Concur customers to automatically send expense report transaction details directly from Concur to Oversight’s leading cloud-based Insights On Demand for T&E, without complex infrastructure and configuration. This streamlined integration saves valuable time, increases convenience, and connects Concur customers to Oversight’s innovative on demand approach in order to successfully analyze and strengthen their T&E programs. Insights On Demand for T&E looks across all employee expense reports to identify the trends of abusive and out-of-policy spending.
“We’re focused on giving companies the ability to quickly and easily gain valuable answers about their corporate spending, at whatever frequency they choose, all without the need to install or manage complex, expensive software,” said Patrick Taylor, CEO of Oversight Systems. “Linking Concur and Oversight using Concur’s web services-based T&E Cloud platform to our cloud-based Insights On Demand for T&E means we can deliver a completely efficient process for Concur customers to gain immediate and frequent monitoring and in-depth analysis of the patterns and outliers in employees’ T&E behaviors.”
"With Concur’s innovative and industry leading cloud-based platform, enterprise app developers and partners are able to deliver highly flexible solutions designed to help transform how businesses access, share and manage travel & expense data,” said Jigish Avalani, SVP & GM of Platform and Developer Services. “The Insights Connector enables the Internal Audit and Compliance departments of joint Concur and Oversight Systems customers with advanced analysis enabling effective Risk Mitigation and FCPA Compliance. When used in conjunction with Concur’s human-based audit services, clients have a holistic system for identifying anomalies and out-of-policy spend and guiding users toward the right behaviors. ”
Since Insights On Demand is a complete web-based solution, users need to only identify the insights they are looking for, upload the data and then launch a thorough analysis, all directly from their devices. Oversight runs the analysis and delivers a dashboard, results exploration workbench and report that include details of the analysis as well as recommended actions to improve policies, stop and prevent misuse, potential fraud and bribery, and minimize corruption risk. The Insights On Demand for T&E family of specific analysis solutions include: Fraud and Misuse, Duplicate Submissions, Suspicious Out of Pocket Expenses, Meals and Lodging Outliers, and FCPA/Anti-bribery and Corruption Risk.
