Spending management and auditing technology provider Oversight has updated its spend optimization platform, adding new capabilities designed to mitigate financial and compliance risk in corporate card programs.
The revamp features enhanced artificial intelligence and machine learning capabilities that enable spending managers to detect expense violations, errors and fraud, according to Oversight. Transactions classified as high-risk automatically are highlighted and prioritized within the spend monitoring workflow for remediation, while an updated dashboard provides enhanced analytics and a single view of organizational spend risk.
The updated platform is being rolled out to Oversight's corporate clients, who can use the service to monitor spending on T&E and purchasing cards, as well as fleet cards—a product type for which Oversight added monitoring last year.