Spotlight on Continuous Transaction Monitoring Software
- by Gary Byrne, Managing Editor, Financials Expert and SCM Expert
- April 6, 2012
SAP’s Sonny Dasgupta answers questions about how an IT organization can protect its company’s reputation and bottom line from fraud with Oversight Systems’ continuous transaction monitoring (CTM) software. Oversight Systems’ CTM application is an SAP-endorsed Enterprise Business Solution.
According to the Association of Certified Fraud Examiners’ (ACFE’s) 2010 “Report to the Nations,” 5 percent of the global gross domestic product (approximately $3 trillion) was lost to fraud in 2009. In the United States, the loss due to fraud in 2009 amounted to $700 billion.
What are security teams at businesses doing to protect themselves from fraud? How do they monitor their organizations to make sure that all employees are complying with their security policies? I interviewed Sonny Dasgupta, senior director, solution marketing, SAP Governance, Risk, and Compliance Solutions at SAP, and asked him those questions. He talked about what measures security and auditing teams can take to protect their organizations from fraud.
I also asked Sonny to comment on how organizations can improve their performance with Oversight Systems’ continuous transaction monitoring (CTM) software, to explain the functionalities that Oversight Systems’ CTM application offers to users, and to share feedback he has heard from companies who have implemented Oversight Systems’ CTM application.