Automated, Efficient Exception Management
Oversight’s automation of the exception-handling process dramatically improves efficiency. Before Oversight, resources spent hours printing and manually comparing multi-page reports, trying to uncover and compare suspicious items. Time spent on investigating possible errors or other issues left little time for fixing problems or generating proof of resolution. Duplicate invoices? Suspicious journal entries? Oversight’s exception alerts and integrated workflow let you move from uncovering problems to addressing and solving them with a few mouse clicks.

Continuous Monitoring and Immediate Exception Notification
If a transaction, or associated entity, is in violation of a given policy, Oversight generates an exception, and the integrated workflow system transmits the exception to the designated individuals via e-mail, the user interface, and periodic reports – depending on the organization’s operational requirements. The system is also able to continuously audit transactions within a diverse system environment (including SAP, PeopleSoft, JD Edwards, and other systems) and monitor business processes to determine whether the exception ratios exceed expected norms.

Oversight’s Exception Management Features             Workbench categorizes exceptions by problem area; enables prioritization based on “confidence score” or dollar value, or on a statistically valid priority calculation that is a combination of dollar value and confidence.     Exception descriptions can be easily customized to include company-specific instructions, such as standard operational procedures for addressing the violation.     A built-in notes facility lets the user record questions, instructions etc.     Provides single-click access to detailed information about the transaction that generated the exception.     Facilitates management monitoring of the exception handling process to readily identify backlogs or other problems.     Provides single-click access to detailed information about the transaction that generated the exception.     Facilitates management monitoring of the exception handling process to readily identify backlogs or other process problems.     Exceptions can be automatically assigned to users or roles.     Exceptions can be re-assigned to other users.     Assignments and resolution states are recorded in the Investigative Log and are available for later analysis.

• Extractor – Flexible data acquisition technology makes it easy to access data from multiple source systems
  
  
• Data Locker – Mapping to common data model ensures consistent analysis & provides comprehensive audit trail
  
  
• Collaborative Reasoning Engine – AI-based, customizable analytics precisely identify problems
  
  
• Knowledge Libraries – Pre-defined integrity checks based on audit best-practices deliver immediate, actionable results
  
  
• Workbench – Drives efficient exception investigation and resolution process
  
  
• Dashboard – Provides management overview to drive quality and efficiency

Evaluating continuous monitoring? Less than satisfied with your current solution? Click here to download a complimentary copy of The Compliance Matrix Group's RFP Generator & Evaluation Worksheet for Continuous Monitoring.