PredictX for EGS

The Challenge

A global technology giant was required to manage travel and expense budgets dynamically throughout the year. This was compounded by the changing nature of their program, which meant they were unable to simply use previous years as a guide. Consequently, they needed to view spend in the context of the budget for that business area.

The Solution 

PredictX deployed their Budgeting module, which absorbs budgetary data from an API and transforms it into a format that can be easily merged with actual spend data as it is provided. This allows for immediate budget-vs-actual comparisons to be made, but also for updated budgets to automatically become available in the application. Additionally, PredictX was able to allow for seasonality in the application of annual budgets.

The Impact

The implemented solution had outstanding benefits:

• An increase of 22% compliance to budgeted spend.
• The number of areas spending under-budget increased the budget headroom by 17%.
• The budgeting process for the following year was faster with a greater understanding.
• The process saved an estimated 70 working days across the business.