Predictive analytics to transform business decisions
The Business Travel Show Europe Innovation Faceoff finalists represent the most cutting edge products, tech and services developed by startups to address big challenges facing the business travel industry.
The Innovation Faceoff takes place online and will be streamed live to visitors attending the in person event on 30th September to 1st October at ExCeL London. You can simply register here to get a free pass to both. We spoke to some of the finalists ahead of the event.
A SaaS company that develops, delivers and manages decision support applications, we caught up with Simon Carmouche, Director of Product at PredictX.
When were you founded?
Active since 2010, involved in corporate travel since 2012.
What do you do?
PredictX is a SaaS company that develops, delivers and manages decision support applications. Our mission is to empower businesses to make better strategic decisions while automating tactical ones, all based on better and more accurate data. Our AI technology allows our clients to predict future business costs and trends, see the likely future impacts of their decisions today, and use this to optimise their policies and strategies.
What problem do you solve?
Our advanced analytics platform gives companies the power and independence to improve sourcing and policy decisions for all aspects of Employee Generated Spend (EGS). EGS is any spend which is produced by the employees of a company while conducting business activities, and thus includes Travel & Expense as well as Meetings & Events, Subscriptions, Home Office applications and a host of other spend areas.
We use groundbreaking technology that enables users to improve stakeholder engagement, manage risk, and achieve - and exceed - savings goals. In addition, our high investment in R&D enables innovative applications to solve complex Travel and other EGS problems.
What are the benefits to travellers and organisations with travellers?
For Travel specifically, we use groundbreaking technology like machine learning to combine data sources including TMC, Card, Expense, Corporate Hierarchy, Supplier and Meetings data and provide a 360° travel program view. Our intuitive analytics applications provide travel-related data on demand at an executive summary and category manager level while simultaneously allowing drill-downs to supplier, department, trip and detailed transactions.
What are your plans for future growth?
We envisage several areas that are key to growth. The pandemic has refocused corporations’ outlooks on how travel should be managed and created an environment where programs need to be reimagined and seen in the context of the holistic management of employee mobility.
We believe that our approach leaves us uniquely qualified to address these issues and enable our partners in Travel to emerge from the pandemic reformed but empowered.