Purchase Cards and Travel and Entertainment

Many companies use procurement cards (p-cards) and company travel cards to streamline procurement and travel & expense processes. Although p-cards are efficient and convenient, distributed “buying” power also carries the inherent risk of mistakes, fraud and misuse.

Oversight Systems maximizes the process-improvement benefits while minimizing the risk by monitoring all of your financial systems and automatically analyzing p-card and T&E transaction data along with other financial and employee data. Oversight identifies suspicious activity and gives you the tools to quickly investigate and resolve mistakes and violations as they occur.

Keeping Control of Employee Spending

Is your company managing its liability for employee purchases made with p-cards and travel cards? While card supplier's controls do not enforce company specific policies to prevent and identify potential mistakes and misuse throughout the purchasing process, Oversight puts you in control of employee spending. Oversight gathers data from all of your financial systems, including those that don’t typically talk to each other, to find exceptions that present potential errors or violations.

• Procurements split across time periods to avoid spending thresholds
• A single purchase billed on a p-card and an invoice
• Purchase of prohibited goods or services
• Personal purchases / personal travel 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 people splitting the cost of larger ticket items
• Use of p-cards and/or travel cards after employee termination