Intelligent transaction monitoring

HR & Payroll

Human Resources (HR) and Payroll can easily represent one of the top cost items in the entire budget, and the cost of errors, policy violations and related fraud is significant.

Oversight's Continuous Transaction Monitoring solution applies predefined Integrity Checks™, drawn from deep subject-matter expertise and knowledge of best practices. Oversight automates testing of each step in the HR and Payroll process to detect and prevent costly errors, misuse and fraud.

Benefits

• Decreases cost of errors, policy violations and regulatory compliance
• Ensures accuracy of employee records, and streamlines data maintenance process
• Identifies fraud, and serves as a deterrent
• Drives quality and accuracy through every step of the HR and Payroll process
• Optimizes the use of self-service solutions
• Eliminates manual review and audit of HR and Payroll transactions

Continuous Transaction Monitoring of HR and Payroll

Through ongoing analysis of HR and Payroll transactions, Oversight identifies:

• Business process risks
• Control design and implementation weaknesses
• User privilege conflicts
• Potential collusion between employees and managers
• Time reporting exceptions
• Employee data conflicts and inaccuracies
• Workflow chokepoints
• Paycheck irregularities
• Promotions and benefits inconsistencies

Order-to-Cash — Accounts Receivable

Today, companies rely on sample-based audits and manual review of ERP reports to track down and resolve mistakes and violations that occur in the Order-to-Cash process. If often takes full-time quality assurance resources to catch these problems—for example, invoicing errors, shipment mistakes, uncollected receivables, and improperly paid commissions—before they affect customers or hit the financial reports.

Even with human controls in place, unidentified and unresolved errors fall through the cracks. By automating the tests and heuristics of auditors and fraud examiners across every transaction, Oversight Systems eliminates manual discovery of issues and points you directly to mistakes and violations as they occur, and facilitates correction resolution.

Oversight Systems' subject matter experts have identified the areas where mistakes and violations occur, frequently undetected, in the Order-to-Cash process. Our set of best practice Integrity Checks™ map to each step in the process to automate testing for completeness, accuracy, validity and user integrity for each transaction, even for processes that involve multiple applications.

Quickly Resolve Errors & Defects

Because Oversight continuously audits the Order-to-Cash process and all of its related records in real-time, you can resolve exceptions before they turn into larger business issues:

• Shipments without invoices or orders
• Erroneous master data records
• Payment of unearned discounts
• Freight accruals
• Inaccurate sales commissions
• Unmatched purchase orders
• Rebates and warranties