Oversight Systems

Last updated
Oversight Systems
Headquarters
United States  OOjs UI icon edit-ltr-progressive.svg
Website www.oversight.com   OOjs UI icon edit-ltr-progressive.svg

Oversight Systems is a U.S.-based company that develops and markets computer software that is intended to help businesses identify employee and vendor fraud, misuse and errors with expense reporting and billing. [1] The software also helps public companies with the monitoring and testing of controls associated with Sarbanes-Oxley Act and the Foreign Corrupt Practices Act (FCPA) compliance. [2] It was founded in 2003 in the US state of Georgia and in its early days was based at the Advanced Technology Development Center [1] business incubator in Atlanta. As of 2024 its headquarters remain in Atlanta. [3]

Oversight Systems' software is intended to detect payments to suspicious vendors and alert authorities when insufficient people are involved in complicated business processes. [4] If a transaction or associated entity is in violation of a given policy, a report is generated and the workflow system transmits the report via e-mail, the user interface and periodic reports. [5]

Oversight's claimed target customers are companies taking in US$600 million or more in yearly revenue. [6]

In 2016 Oversight received funding from the venture capital firm Luminate Capital Partners. [7] On September 2, 2020 Oversight was acquired by TCV, with Luminate Capital Partners retaining a minority equity partnership. [8]

Related Research Articles

<span class="mw-page-title-main">SAP</span> German multinational enterprise-software company

SAP SE is a German multinational software company based in Walldorf, Baden-Württemberg, Germany. It develops enterprise software to manage business operation and customer relations. The company is the world's largest enterprise resource planning (ERP) software vendor.

<span class="mw-page-title-main">Due diligence</span> Standard of care before entering into a contract with another party

Due diligence is the investigation or exercise of care that a reasonable business or person is normally expected to take before entering into an agreement or contract with another party or an act with a certain standard of care.

<span class="mw-page-title-main">Dell EMC</span> Computer storage business

Dell EMC is an American multinational corporation headquartered in Hopkinton, Massachusetts, and Round Rock, Texas, and is a subsidiary of Dell Technologies. Dell EMC sells data storage, information security, virtualization, analytics, cloud computing and other products and services that enable organizations to store, manage, protect, and analyze data. Dell EMC's target markets include large companies and small- and medium-sized businesses across various vertical markets.

Sophos Ltd. is a British security software and hardware company. It develops and markets managed security services and cybersecurity software and hardware, such as managed detection and response, incident response and endpoint security software. Sophos was listed on the London Stock Exchange until it was acquired by Thoma Bravo in March 2020.

<span class="mw-page-title-main">SAS (software)</span> Statistical software

SAS is a statistical software suite developed by SAS Institute for data management, advanced analytics, multivariate analysis, business intelligence, criminal investigation, and predictive analytics. SAS' analytical software is built upon artificial intelligence and utilizes machine learning, deep learning and generative AI to manage and model data. The software is widely used in industries such as finance, insurance, health care and education.

<span class="mw-page-title-main">Foreign Corrupt Practices Act</span> United States federal law

The Foreign Corrupt Practices Act of 1977 (FCPA) is a United States federal law that prohibits U.S. citizens and entities from bribing foreign government officials to benefit their business interests.

A payment service provider (PSP) is a third-party company that allows businesses to accept electronic payments, such as credit card and debit card payments. PSPs act as intermediaries between those who make payments, i.e. consumers, and those who accept them, i.e. retailers.

Trimble Inc. is an American software, hardware, and services technology company. Trimble also does hardware development of global navigation satellite system (GNSS) receivers, scanners, total stations, laser rangefinders, unmanned aerial vehicles (UAVs), inertial navigation systems and software processing tools.

<span class="mw-page-title-main">Unit4</span> Dutch business software company

Unit4 is an Enterprise Resource Software company that designs and delivers enterprise software and ERP applications and related professional services for people in services organizations, with a special focus on the professional services, education, public services, and nonprofit sectors. It has subsidiaries and offices in 23 countries across Europe, North America, the Asia-Pacific region and Africa.

Epicor Software Corporation is a business software company based in Austin, Texas founded in 1972. Its products are aimed at the manufacturing, distribution, retail and services industries.

<span class="mw-page-title-main">Thomson Reuters</span> Canadian multinational information conglomerate

Thomson Reuters Corporation is a Canadian multinational information conglomerate. The company was founded in Toronto, Ontario, Canada and maintains its headquarters at 19 Duncan Street there.

<span class="mw-page-title-main">NetSuite</span> Technology company

NetSuite Inc. is an American cloud-based enterprise software company that provides products and services tailored for small and medium-sized businesses (SMBs) including accounting and financial management, customer relationship management (CRM), inventory management, human capital management, payroll, procurement, project management and e-commerce software. NetSuite was founded in 1998 with headquarters in Austin, Texas. The company is widely seen as the first cloud computing software company, with its founding pre-dating that of Salesforce by about a month.

<span class="mw-page-title-main">Splunk</span> American technology company

Splunk Inc. is an American software company based in San Francisco, California, that produces software for searching, monitoring, and analyzing machine-generated data via a web-style interface. Its software helps capture, index and correlate real-time data in a searchable repository, from which it can generate graphs, reports, alerts, dashboards and visualizations.

<span class="mw-page-title-main">Francisco Partners</span> American private equity firm

Francisco Partners Management, L.P., doing business as Francisco Partners, is an American private equity firm focused exclusively on investments in technology and technology-enabled services businesses. It was founded in August 1999 and based in San Francisco with offices in London and New York City.

BeyondTrust (formerly Symark) is an American company that develops, markets, and supports a family of privileged identity management / access management (PIM/PAM), privileged remote access, and vulnerability management products for UNIX, Linux, Windows and macOS operating systems.

<span class="mw-page-title-main">ServiceNow</span> American technology company

ServiceNow, Inc. is an American software company based in Santa Clara, California, that develops a cloud computing platform to help companies manage digital workflows for enterprise operations. Founded in 2003 by Fred Luddy, ServiceNow is listed on the New York Stock Exchange and is a constituent of the Russell 1000 Index and S&P 500 Index. In 2018, Forbes magazine named it number one on its list of the world's most innovative companies.

Vectra AI, Inc. is a cybersecurity company that uses AI for hybrid attack detection, investigation, and response (NDR) solutions. The company was established in 2012 and operates in 113 countries from its San Jose, California headquarters.

<span class="mw-page-title-main">Datto (company)</span> American cybersecurity and data backup company

Datto, Inc. is an American cybersecurity and data backup company. In 2017, it was acquired by Vista Equity Partners. In 2022, it became a subsidiary of Kaseya.

Clio is a legal technology company headquartered in Burnaby, British Columbia. It offers law firms cloud-based software that handles various law practice management tasks including client intake, contact management, calendaring, document management, timekeeping, billing, and trust accounting.  

<span class="mw-page-title-main">Jamf</span> U.S. technology company

Jamf Holding Corp. is a software company best known for developing Jamf Pro, a mobile device management system.

References

  1. 1 2 Rubner, Justin (9 September 2004). "Monitoring firm raises $7 million". Atlanta Business Chronicle. Archived from the original on 5 August 2011. Retrieved 26 October 2024.
  2. Forbes staff (19 June 2013) [16 September 2009]. "Ten Questions for Oversight Systems: As told to Forbes by Patrick Taylor, founder of Oversight Systems". Forbes . Retrieved 26 October 2024.
  3. "We'd love to hear from you. Contact Information". Oversight. Retrieved 26 October 2024.
  4. Goldberg, Michael (13 May 2012). "Patrick Taylor, CEO of Oversight Systems, on Business Transactions Analytics and SAP HANA". Data Informed. Archived from the original on 27 May 2013. Retrieved 26 October 2024.
  5. "Oversight Systems: automated transaction monitoring for FCPA compliance risk". Compliance Week. 12 February 2016. Archived from the original on 17 November 2016. Retrieved 26 October 2024.
  6. "ACL vs Oversight Systems". itcentralstation. Archived from the original on 25 October 2016. Retrieved 26 October 2024.
  7. "Luminate Capital Partners Invests in Oversight Systems to Drive Global Growth Strategy" (PDF) (Press release). Oversight. 12 July 2016. Retrieved 26 October 2024.
  8. "TCV Makes Strategic Growth Investment in Global Spend Management Leader Oversight" (Press release). Bloomberg.com. Business Wire. 2 September 2020. Archived from the original on 9 October 2020.