TSYS announced Monday an agreement with Oversight Systems to provide an automated monitoring and analysis solution to help corporate purchasing professionals detect and eliminate fraud, policy misuse, and waste within their card programs.

Oversight Insights On Demand – Powered by TSYS is an innovative solution that will facilitate transparency, accountability and growth of card programs for corporate customers. In addition, this solution addresses key barriers to card adoption, namely the lack of operational spend control and associated risk with decentralized purchasing. The solution will be available to TSYS’ commercial clients beginning in the third quarter of this year.

“Card program managers need better tools to ensure compliance with business policies and reduce the cumbersome nature of monitoring transactions,” said Keith Pierce, group executive of Commercial Services, TSYS. “Insights On Demand will maximize program efficiency by reducing cost, mitigating risk and strengthening policy compliance.”

Insights On Demand allows corporate program managers to tailor monitoring parameters to their policies and practices. The solution performs automated analysis, first by reviewing 100 percent of the transactions, then delivering results through a management dashboard and analyst workbench with built-in workflow capabilities.

“TSYS and Oversight are providing companies the ability to quickly and easily gain valuable insight into their corporate spending, whenever they choose, all without the need to install or manage complex, expensive software,” said Patrick Taylor, chief executive officer, Oversight Systems. “With this insight, program managers can deliver real results to the bottom line.”