Oversight Systems
| Headquarters | United States  |
|---|---|
| Website | www |
Oversight Systems is a U.S.-based company that develops and markets computer software that is intended to help businesses identify employee and vendor fraud, misuse and errors with expense reporting and billing.[1] 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.[2] It was founded in 2003 in the US state of Georgia and in its early days was based at the Advanced Technology Development Center[1] business incubator in Atlanta. As of 2024 its headquarters remain in Atlanta.[3]
Oversight Systems' software is intended to detect payments to suspicious vendors and alert authorities when insufficient people are involved in complicated business processes.[4] 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.[5]
Oversight's claimed target customers are companies taking in US$600 million or more in yearly revenue.[6]
In 2016 Oversight received funding from the venture capital firm Luminate Capital Partners.[7] On September 2, 2020 Oversight was acquired by TCV, with Luminate Capital Partners retaining a minority equity partnership.[8]
References
[edit]- ^ a b Rubner, Justin (9 September 2004). "Monitoring firm raises $7 million". Atlanta Business Chronicle. Archived from the original on 5 August 2011. Retrieved 26 October 2024.
- ^ Forbes staff (19 June 2013) [16 September 2009]. "Ten Questions for Oversight Systems: As told to Forbes by Patrick Taylor, founder of Oversight Systems". Forbes. Retrieved 26 October 2024.
- ^ "We'd love to hear from you. Contact Information". Oversight. Retrieved 26 October 2024.
- ^ Goldberg, Michael (13 May 2012). "Patrick Taylor, CEO of Oversight Systems, on Business Transactions Analytics and SAP HANA". Data Informed. Archived from the original on 27 May 2013. Retrieved 26 October 2024.
- ^ "Oversight Systems: automated transaction monitoring for FCPA compliance risk". Compliance Week. 12 February 2016. Archived from the original on 17 November 2016. Retrieved 26 October 2024.
- ^ "ACL vs Oversight Systems". itcentralstation. Archived from the original on 25 October 2016. Retrieved 26 October 2024.
- ^ "Luminate Capital Partners Invests in Oversight Systems to Drive Global Growth Strategy" (PDF) (Press release). Oversight. 12 July 2016. Retrieved 26 October 2024.
- ^ "TCV Makes Strategic Growth Investment in Global Spend Management Leader Oversight" (Press release). Bloomberg.com. Business Wire. 2 September 2020. Archived from the original on 9 October 2020.
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