Oversight Systems Launches Oversight On-Demand(TM).One-Time Analysis "Health Checks" Answer Rising Need for Forensic Audit Capabilities
ATLANTA -- Oversight Systems Oversight Systems is a US company, founded in late 2003, which develops and sell computer software that helps businesses continually check for inside fraud, errors and other problems. , Inc. today announced the availability of Oversight On-Demand[TM], 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 The description of a willful act commenced with the Specific Intent to deceive or cheat, in order to cause some financial detriment to another and to engender personal financial gain. behavior, forensic auditing has become one of the hottest areas in the accounting profession today," Oversight Systems CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Patrick Taylor
Patrick Alan Taylor (born November 25, 1981 in Annapolis, Maryland, U.S. 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 General Ledger
A company's accounting records. This formal ledger contains all the financial accounts and statements of a business.
The ledger uses two columns: one records debits, the other has offsetting credits. )
* 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 A list of Enterprise resource planning (ERP) vendors. ERP vendors by revenue
The largest vendors worldwide in 2005 according to Gartner Dataquest:
Market share 2005 according to Gartner Dataquest
# Vendor Revenue
(million $) Market share , such as SAP, Oracle, PeopleSoft, JD Edwards See J.D. Edwards. , Infinium, GEAC (Geac Computer Corporation Limited, Markham, Ontario, www.geac.com) A major Canadian software company acquired in early 2006 by Golden Gate Capital. Founded in 1971, and originally specializing in library automation, Geac is best known for its SmartStream financial, payroll and human , Baan and others.
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 en·crypt
tr.v. en·crypt·ed, en·crypt·ing, en·crypts
1. To put into code or cipher.
2. Computer Science 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 Systems takes continuous controls monitoring to the next level, with real-time transaction integrity inspection for identifying fraud, misuse and errors. Oversight's software provides a platform for continuous monitoring with powerful analytics that excel at Verb 1. excel at - be good at; "She shines at math"
excel, surpass, stand out - distinguish oneself; "She excelled in math" finding problems, then raises the bar with an investigator's workbench for cost-effectively fixing the problem, and workflow-enabled audit trail and journaling for proving problem resolution and compliance. By inspecting each step of individual transactions across all financial systems, Oversight identifies all errors and fraud, drives defects out of the process, and sustains Sarbanes-Oxley compliance. For more information, visit www.oversightsystems.com.