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TSYS Partners with Oversight to Strengthen Corporate Card Program Auditing
The partnership provides automated audit capabilities
COLUMBUS, Ga., April 7, 2014 — TSYS (NYSE: TSS) announced today an agreement with Oversight Systems to provide an automated monitoring and analysis solution to help corporate purchasing professionals detect and eliminate fraud, policy misuse, and waste within their card programs.
Oversight Insights On Demand – Powered by TSYS is an innovative solution that will facilitate transparency, accountability and growth of card programs for corporate customers. In addition, this solution addresses key barriers to card adoption, namely the lack of operational spend control and associated risk with decentralized purchasing. The solution will be available to TSYS' commercial clients beginning in the third quarter of this year.
"Card program managers need better tools to ensure compliance with business policies and reduce the cumbersome nature of monitoring transactions," said Keith Pierce, group executive of Commercial Services, TSYS. "Insights On Demand will maximize program efficiency by reducing cost, mitigating risk and strengthening policy compliance."
Insights On Demand allows corporate program managers to tailor monitoring parameters to their policies and practices. The solution performs automated analysis, first by reviewing 100 percent of the transactions, then delivering results through a management dashboard and analyst workbench with built-in workflow capabilities.
"TSYS and Oversight are providing companies the ability to quickly and easily gain valuable insight into their corporate spending, whenever they choose, all without the need to install or manage complex, expensive software," said Patrick Taylor, chief executive officer, Oversight Systems. "With this insight, program managers can deliver real results to the bottom line."
About Oversight Systems
Oversight's mission is to deliver analysis that helps companies make smarter business decisions. Oversight Insights On Demand is a new web based application designed to assist travel and purchase card managers in uncovering possible misuse, fraud, and compliance violations. With the software, customers address operational data analysis requirements and leverage analytics to change employee corporate spending behavior. A Concur, Oracle, SAP, and TSYS partner, Oversight has over 10 years of experience analyzing nearly $2 trillion in expenditures annually at Fortune Global 5000 companies and government agencies. Visit http://www.oversightsystems.com/ for more information.
At TSYS® (NYSE: TSS), we believe payments should revolve around people, not the other way around. We call this belief "People-Centered Payments®." By putting people at the center of every decision we make, TSYS supports financial institutions, businesses and governments in more than 80 countries. Through NetSpend®, A TSYS Company, we empower consumers with the convenience, security, and freedom to be self-banked. TSYS offers issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions.
TSYS' headquarters are located in Columbus, Ga., U.S.A., with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS is a member of The Civic 50 and has been named one of the 2013 World's Most Ethical Companies by Ethisphere magazine. TSYS routinely posts all important information on its website. For more, please visit us at www.tsys.com.
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