Oversight Systems Launches Oversight On-Demand™
One-time analysis “Health Checks” answer rising need for forensic audit capabilities
ATLANTA (October 8, 2007) – Oversight Systems, Inc. today announced the availability of Oversight On-Demand™, a Software-as-a-Service (SaaS) offering of Oversight's continuous monitoring solution. Oversight On-Demand provides for one-time, periodic "health checks" of an organization's financial accounting and reporting processes.
"With high-profile companies making headlines for potentially fraudulent behavior, forensic auditing has become one of the hottest areas in the accounting profession today," Oversight Systems CEO Patrick Taylor said. "Unfortunately, traditional analytical resources are expensive to employ, leaving many companies vulnerable to fraudulent behavior. Oversight On-Demand gives companies a virtual auditor at a price tailored to their needs."
Oversight On-Demand cost-effectively automates forensic analysis of a company's financial data, leveraging advanced statistical analysis techniques to comprehensively inspect transactions for fraud, misuse and errors, and test the effectiveness of internal controls over financial reporting. With Oversight On-Demand, Sarbanes-Oxley 302 and 404 certifications are made with the confidence founded in an independent audit of 100 percent of the transactions. The analytic dashboards, workflow-enabled resolution workbench and documentation capabilities in the Oversight On-Demand platform drive efficient review and resolution to assure the integrity of financial reports.
Oversight On-Demand is available for one-time analysis of the following processes:
- Financial Accounting and Reporting (General Ledger)
- Procure-to-Pay Process (Accounts Payable)
- Travel and Expense Reporting
- Vendor Master File Maintenance
- Purchase Cards
Oversight On-Demand accommodates files from all of the leading ERP vendors, such as SAP, Oracle, PeopleSoft, JD Edwards, Infinium, GEAC, Baan and others.
System Security
The Oversight On-Demand offering incorporates protection services to secure client data access at all levels, from physical to logical, including safeguards on access by Oversight support and service personnel. All transfer of data over the Internet is done using encrypted links. Client data is stored on servers in a secure environment protected by state-of-the-art infrastructure.
The Oversight Systems disaster recovery services include robust redundancy, data retention policies, storage technologies and secure backups, to ensure that customer solutions aren't harmed by a system failure or disaster.
In addition, Oversight On-Demand one-time analyses are backed by a 100 percent satisfaction guarantee.
About Oversight Systems, Inc.
Oversight takes continuous monitoring to the next level by combining an audit data warehouse, advanced analytics and workflow into a single, integrated, application. By inspecting each step of individual transactions across systems, Oversight identifies errors, control violations and fraud to drive higher levels of performance and compliance. Oversight's platform automates the entire life cycle finding problems in business processes, fixing those problems and proving the problems were resolved. Oversight is the solution of choice for those CFO's, CIO's and CISO's serious about compliance and enhancing their financial performance. For more information, visit www.oversightsystems.com.
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