- Audit teams spend 80% of their time identifying administrative errors that have little, if any, impact on financial or compliance outcomes
- Concur Detect by Oversight continuously monitors and analyzes 100% of spend, automatically identifying waste, abuse and fraud, and providing the data insights you need to optimize spend, improve compliance, and increase audit efficiency. The solution uses AI to analyze all data dimensions over time, flagging high-risk transactions and non-compliant spend patterns to uncover issues, such as repeat offenders and attendee risk, which would otherwise go unnoticed. Findings are displayed and scored to help you take the right action at the right time.
Advantages of Concur Detect by Oversight:
- Global – Because of its high-context approach, Concur Detect by Oversight enables organizations with high volumes of expenses around the globe to prioritize exceptions based on confidence and potential impact.
- Comprehensive – By leveraging a variety of indicators and analyzing prior behavior, Concur Detect by Oversight goes beyond generating threshold-based exceptions.
- Flexible – Concur Detect by Oversight allows organizations to make fine-tune adjustments that are right for their business. Plus, with strong pre- and post-payment approach, you can manage risk comprehensively with greater flexibility.
The benefit? You and your finance team get:
A Simplified Process:
- Integrated with Concur Expense workflow
- Leverages Oversight’s AI technology to automatically identify potential mistakes, fraud and patterns of misuse both pre- or post-reimbursement
- Employees are reimbursed faster given auto-approval of lower risk items
- Provides focus on targeted at-risk items
More Visibility and Control:
- Machine learning analyzes expenses and receipts to detect fraud and anomalies humans can’t
- Leverages multiple data points to provide confidence and impact assessments.
- Receipt validation / verification with dollar amount, date and vendor
Improved Employee Behavior:
- Detect accidental misuse vs. intentional fraud
- Identify areas for further review that could consist of mistakes or potential fraud/misuse
- Auditors focus on resolving fraud (instead of finding it) and creating best practices
To learn more about Concur Detect by Oversight, contact your SAP Concur Account Manager, or submit an inquiry to contact SAP Concur sales