ATLANTA – July 29, 2014 – Oversight Systems, a leading operational analysis software company, announced today the addition of Oversight Insights On Demand™ Spend Analysis for Travel and Expense. Designed to help corporate travel managers make smarter decisions around their corporate travel programs, Insights On Demand Spend Analysis is a dashboard portal that provides a comprehensive and visual view of total travel spend. Software users can segment dashboard data by traveler, merchant, expense category, vendor or date, to take a closer look into the spending patterns and behaviors of employees. Travel managers can use the data to determine where company dollars are spent in order to strengthen preferred supplier rebates and relationships, negotiate better rates, and influence “problem traveler” behavior.
Insights On Demand is a web-based application to assist T&E, P-Card, and accounts payable programs in tracking company spending for policy violations, potential fraud and misuse, and compliance errors. The software works by applying sophisticated predictive analytics, combined with transaction analysis to monitor 100% of transaction data. Insights On Demand then offers users relevant insights based on their business objectives, and tailors the Insights to their policies and business requirements.
“Insights On Demand Spend Analysis™ is useful to all of our key T&E client users,” said Oversight CEO, Patrick Taylor. “Particularly travel managers, who have told us how important it is to be confident open bookings are being tallied with TMC bookings for maximum negotiating power.”
With Insights On Demand Spend Analysis, the combination of visual and tabular scorecards provides travel managers with a field of vision that previously required them to sift through multiple reports from expense management systems and travel management partners. Combining this programmatic spend analysis with information about the out-of-policy spending in each of these views, Insights On Demand Spend Analysis provides travel managers with easy access to both spending and policy behaviors.
Insights On Demand Spend Analysis comes free with each Insights On Demand purchase, and Oversight is currently offering prospective customers a free trial that includes the analysis and resulting Insights from 90 days of data. This trial allows companies to experience with their own data how Insights On Demand and the Spend Analysis dashboards work.
“We are pleased to respond to the spend analysis needs that our Insights On Demand customers have shared with us,” Taylor continued. “We are now able to provide an unparalleled level of visibility into travel program behaviors and merchant spending activity.”
About Oversight Systems
Oversight delivers analysis that helps companies make smarter business decisions through increased corporate insight. The cloud-based analytical service uncovers possible misuse, fraud, and compliance violations within T&E, purchase card, and accounts payable programs. By leveraging big data analytics, the technology solution identifies problematic employee behavior, patterns of spending, and corporate compliance errors. With every organization needing to ask questions of their data, Oversight Insights On Demand™ aims to answer those questions, and help users drive actionable, cost-effective results at the front lines of business.
Oversight makes a difference within the companies it serves, and has the experience to prove it; analyzing $1.9 trillion in expenditures annually at Fortune Global 5000 companies and government agencies, Oversight also boasts partnerships with Concur, Oracle, SAP and TSYS. See more at www.oversightsystems.com.