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Monday, July 24, 2006
Oversight Systems Partners with Spectrum Oversight Advisors for the Healthcare Market
Oversight's Continuous Monitoring Platform Automates Spectrum Oversight's Analysis to Correct & Eliminate Errors in Procurement & Contract Management
ATLANTA (July 24, 2006) – Oversight Systems Inc., the leading provider of continuous monitoring solutions, today announced it partnership with Spectrum Oversight Advisors, LLC to serve the healthcare market with continuous monitoring solutions that identify, correct and prevent transaction-level errors in financial processes.
"With blue chip healthcare clients and a track record of success, Spectrum Oversight Advisors is the perfect partner for us to introduce the benefits of continuous monitoring and real-time transaction inspection to the healthcare industry," Oversight Systems Vice President of Business Development Chris Rossie said.
Spectrum Oversight Advisors, a national management and services firm focused on healthcare providers, will incorporate the Oversight Systems continuous monitoring platform into its procurement and contract management service offerings. Spectrum's service offering now combines their healthcare expertise with Oversight's advanced reasoning engine to enhance the analysis of historical and real-time transactions to ensure contract compliance and eliminate transaction errors, such as incorrect invoicing, improper pricing and unrealized discounts and rebates.
"Spectrum Oversight Advisors conducted an intensive search to find the right technology partner that could compliment our service offering. We intend to jointly develop tools that will incorporate our methodology and industry expertise into a powerful application that will provide our clients with information that will continuously monitor and improve financial performance," said James K. Lawrence, Senior Partner and CEO of Spectrum Oversight Advisors. "Oversight Systems offered the most advanced platform for continuous monitoring that allows us to easily encode Spectrum’s proprietary analysis while also empowering non-technical finance managers to eliminate transaction-level errors from their day-to-day processes."
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