Compliance

Avoid Fines and Penalties

Your ERP and Travel & Expense Management Platforms do not protect you from the substantial fines or reputational damages that follow regulatory compliance violations. Oversight safeguards your spend by analyzing 100% of invoices, expenses, and vendor records to identify compliance risk. We spot potential violations, saving our clients millions of dollars annually in fines and penalties.

FCPA/OFAC

In 2022 alone, the SEC filed 760 enforcement actions totaling $6.4 billion in (FCPA) penalties, with an additional 15 actions totaling $38 million in fines settled by OFAC.

FCPA_OFAC 2023-mockup

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: The Oversight platform proactively identifies compliance risk by analyzing every transaction and vendor record, recognizing payment activities that could be indicative of bribery, corruption, or other regulatory issues.
: Our platform highlights and prioritizes actionable patterns with overall confidence and risk scoring, allowing you to quickly address the issues with the greatest risk.
: Our AI-led platform uses machine-leaning, data analytics, and fuzzy matching to efficiently sort through data, identify compliance “red flags,” and detect similarities with vendor records and sanctioned vendor lists.
: Oversight continuously monitors and analyzes your data, addressing the DOJ’s guidelines for compliance monitoring, communication with employees, compliance evidence, and audit trails.
: Our solutions provide a defensible audit trail by maintaining a permanent, tamper-proof audit log to document the steps taken to resolve and mitigate issues automatically.

Sarbanes Oxley

Compliance with Section 404 of the Sarbanes-Oxley Act is proving to be significantly more difficult than anticipated for many firms, with many misjudging the scope of the documentation, evaluation, and testing activities, as well as the staffing requirements. Oversight takes compliance and reporting to a new level, with comprehensive analysis and reporting.

: With C-level review required for all financial reports under Sarbanes-Oxley provisions, having Oversight on your team ensures you have a defensible, tamper-proof audit record documenting the activities taken to fix and mitigate risks.
: Section 404 compliance requires comprehensive, enterprise-wide, executive-driven internal control management programs. Oversight provides the comprehensive control and reporting you need to keep compliant, across all your spend.
: Mergers and acquisitions, divestitures, asset appraisals, plant closures, pension accounting, and sophisticated compensation schemes are all examples of uncommon, highly complex events that pose significant financial reporting risks. The Oversight platform provides the technical accounting information and reporting required to record complicated transactions properly.

Sunshine Act

The Physician Payments Sunshine Act is designed to increase transparency regarding financial ties between physicians, teaching hospitals, and medication, medical devices, and biologics producers. Oversight’s solution actively supports your compliance team's efforts in identifying potential areas of risk.

: Numerous interactions exist between physicians and pharmaceutical, biotech, and medical device companies aimed at advancing clinical research, which is essential for developing medicines and improving patient care. Oversight supports your transparency and reporting efforts, providing the detailed and comprehensive information you need to stay ahead of any potential conflicts and risk.
: Our platform precisely and reliably detects, aggregates and tags spend transaction data to the Covered Recipient. With Oversight, you can collect, aggregate, analyze, and report spend transaction data to state and federal governments all from one place.