Intelligent transaction monitoring

Card Spend and T&E

Track Purchasing Card Errors across Issuers, Applications and Departments

Procurement cards (p-cards) and company travel cards represent a particularly difficult challenge for organizations seeking to minimize improper purchases, payments and fraud. These cards distribute purchase authority across a wide range of employees, rather than concentrate it with small number of purchasing professionals. Even worse, different departments and card issuers will maintain their own individual systems, requirements and policies. Any auditing process that works within a limited number of these systems will fail to identify a broad range of potential areas for misuse and financial loss.

Oversight System’s Continuous Transaction Monitoring (CTM) works across issuer systems, financial applications and departmental business processes to create a unified, enterprise-wide overview of procurement card spending. This enterprise-wide approach creates a common baseline that accelerates identifying improper or unexpected purchasing behavior. Oversight then alerts financial managers and staff supervisors to potential problems before they become crises. Organizations receive all the benefits of procurement cards, while minimizing the risk of fraud and abuse.

Oversight Systems’ real-time monitoring and active analysis quickly identify Card Spend and T&E issues in the following areas:

• Procurements split across time periods to avoid spending thresholds
• A single purchase billed both on a p-card and an invoice
• Purchase of prohibited goods or services
• Personal purchases/ expenses
• Duplicate or invalid charges by merchants
• Purchases made outside of the preferred vendor list
• Expenses that violate travel & entertainment policies
• Falsified or exaggerated expenses
• Multiple employees splitting the cost of larger ticket items
• Use of p-cards and/or travel cards after employee termination