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Oversight Systems Granted Patent For Compliance Monitoring Case Management

Tue, Jun 05, 2012

Patent Number 8,170,902 demonstrates the company’s innovation and thought leadership in Continuous Analysis of financial transactions

ATLANTA – June 5, 2012 – Oversight Systems, the leader in Continuous Analysis (CA) solutions that   turn financial transactions into actionable insights, announced today that it has been granted Patent   Number 8,170,902 by the United States Patent Office. This patent, part of the company’s expanding portfolio, covers methods and systems for compliance case management.

The company’s patented technology enables interactive investigation and resolution of detailed cases   relating to operational inefficiency, and potential fraud discovered automatically by Oversight’s   Continuous Analysis platform. These actionable insights allow managers and executives to correct   inappropriate or improper transactions and improve essential business processes. 

This patent reflects Oversight’s ongoing commitment to deliver advanced predictive analysis without   requiring managers or executives to become analytics experts. Oversight’s customers use these solutions   to receive unique, detailed, plain-language insights from the Oversight engine, as well as one-click   access to all supporting information used to identify anomalous transactions and business risks. 

“For all the power of Big Data and business intelligence, most people aren’t data scientists or professional   analysts and don't have the time or expertise to use these tools for everyday decisions,” says Patrick   Taylor, CEO of Oversight Systems. “That’s why we developed the technology recognized by this patent. It   provides the insights that drive better decisions. Our technology makes that possible in a simple,   straightforward way.” 

The innovations covered by the patent provide enhanced user interface tools that simplify and accelerate   users’ ability to understand the complex data and evidence-based conclusions being presented. This   technology intelligently prioritizes the potential business impact of Oversight’s analytical findings, as well   as qualifying the evidence supporting those conclusions. An investigatory log details exactly how the   system reached its conclusions. 

The system determines its results and supporting evidence by applying packaged analytics modules that   address specific business needs, such as Assured Best Price, Sales Price Erosion or Corruption and   National Security Risk. Data comes indirectly from source transactions, and the analytics focus on   patterns of changes, data spread across multiple systems and missing relationships between documents   and activities.  For more information about Oversight Systems, this patent and Continuous Analysis solutions for   enterprise organizations and government agencies, please visit www.oversightsystems.com, or email   sales@oversightsystems.com.

 

About Oversight Systems

Oversight Systems is a Continuous Analysis (CA) platform for Big Data that generates actionable insight and competitive advantage without requiring that managers become analytics experts. Our packaged   business analytics convert active data such as financial transactions into plain-language alerts that show what happened, why – and what to do about it. Oversight is an SAP Endorsed Business Solution and HANA co-innovation partner. Major global corporations and government agencies rely on Oversight solutions to drive smarter, faster decisions across the organization that contribute directly to the bottom line. Founded in 2003, Oversight Systems is privately held and headquartered in Atlanta, GA.

Patent_Press_Release-2012-06-01