Oversight 4.0 Delivers Risk-Based
Segregation of Duties Controls
Oversight’s Dual-Duty
Platform Transforms Segregation of Duties
Compliance Costs into Process Improvement
Profits
ATLANTA (May 24, 2006)
- Oversight Systems Inc., the leading provider
of continuous monitoring solutions, today
announced the first risk-based platform
for managing segregation of duties. Segregation
of Duties (SoD) is an important component
of preventing fraud as mandated by Sarbanes-Oxley.
Oversight 4.0 effectively manages the risks
of real-world Segregation of Duties
and delivers information that drives business
process improvement. This dual-duty investment
transforms Sarbanes-Oxley expenses into
business process improvement opportunities.
"Internal controls monitoring and
automation is the second wave of SOX compliance
software, which is rapidly gaining momentum,"
states Paul Hamerman, vice president of
research at Forrester Research. "Access
control and Segregation of Duties
monitoring ensure that business users have
appropriate application privileges and proper
division of work, beyond what an ERP package
provides. These solutions monitor user activity
and apply predefined rules to detect potential
violations, limiting opportunity for fraud."
Oversight Systems’ patent-pending
real-time transaction inspection drives
the compliance and operational improvement
life cycle by enabling companies to:
- Identify and correct errors as they
occur in a process
- Prioritize Segregation of Duties
remediation based on risk
- Continuously monitor and analyze business
processes for Segregation of Duties
events, and
- Evaluate overall process conformance
to contract terms and business policies.
"Compliance should drive profitability
not diminish it, and increasingly organizations
demand solutions that both deliver bottom-line
benefits and satisfy Sarbanes-Oxley requirements,”
Oversight Systems CEO Patrick Taylor said,
“The Oversight 4.0 platform delivers
a true risk-based analysis of Segregation
of Duties and real-time evaluation
of business process integrity. Our vision
is to eliminate the compliance tax by providing
real business value."
Oversight 4.0 ships with the best practices
and standard audit tests for maintaining
segregation of duties and improving business
process performance across SAP, PeopleSoft,
Oracle Financials, Siebel CRM, Ariba, JD
Edwards, Infinium and MFG Pro. Oversight
analytics can also be adapted to legacy
applications. IT and compliance managers
can define new tests through Oversight 4.0’s
web interface.
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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