Oversight Systems
| Company type | Private |
|---|---|
| Industry | Compliance software; fraud detection; analytics |
| Founded | 2003 |
| Headquarters | Atlanta, Georgia, United States |
| Products | Compliance and fraud-detection software |
| Owners | TCV (majority); Luminate Capital Partners (minority) |
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 the 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]
References
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