AI-powered Corporate
Travel & Expense Sourcing
Optimise your sourcing using a complete view of your T&E Spend, coupled with market insights and AI-powered analytics
PredictX enables you to find and action sourcing opportunities in all categories and across all data sources in your program. Our AI-centric approach enables you to go beyond single-channel spend visibility and manage all T&E data from a single, 360-degree view of activity. With our analytical approach, you can quickly manage existing, and find alternative suppliers, see the right strategies, and exercise opportunities based on holistic, accurate data.
Key Features:
Sourcing challenges that we are solving :
Data split between multiple providers - for example, most hotel sourcing programs that we see are based on a program that is missing 40% of the activity.
Lack of visibility into contract effectiveness - once a contract is signed, most analytics is forgotten about - but in the real world, the best strategy is constantly shifting.
Data quality issues - from supplier fragmentation to air travel in the wrong class, data quality issues in T&E are rife.
Data wrangling - sourcing managers in T&E spend more time than any other doing data wrangling - before they even get to a supplier meeting.
Data wrangling - sourcing managers in T&E spend more time than any other doing data wrangling - before they even get to a supplier meeting.
How it works:
Data ingestion:
Supplier Analysis:
Market Analysis:
Customisations:
Actionable insights:
FAQs
Frequently Asked Questions About AI-Powered Corporate Travel & Expense Sourcing
AI-powered corporate travel and expense sourcing is a solution that provides a comprehensive view of your travel and expense (T&E) spend, combined with market insights and AI-driven analytics. It helps identify and act on sourcing opportunities across all T&E categories, optimizing your sourcing strategies for better savings and efficiency.
An effective Business Travel sourcing solution offers a single source of truth for all suppliers and categories, comparative market data at a granular level, and data aligned with your business units and policies. This ensures you have a comprehensive and accurate view of your Travel and Expense spend for informed decision-making.
AI-powered solutions address common corporate travel sourcing challenges such as data fragmentation across multiple providers, lack of visibility into contract effectiveness, data quality issues (supplier fragmentation, incorrect travel class), and the time-consuming task of data wrangling for sourcing managers.
These solutions ingest data from various travel and expense sources. They use machine learning models to validate, cleanse, and consolidate the data into a comprehensive data lake, ensuring data accuracy and consistency.
An AI-powered solution provides a full supplier view, including preferred statuses, actual paid rates, variances, demand trends, and travel pattern changes. This allows you to understand your supplier relationships and identify opportunities for optimization.
It performs market share analysis, comparing current and proposed contracts with detailed O&D data on classes of service, fare basis code, airline alliances, and more. This helps you benchmark your corporate air sourcing strategies against market standards.
Yes, these solutions often offer customizations for client regions, haul-types, and specific supplier relationships. This ensures that the solution is tailored to your specific business requirements and provides relevant insights.
These solutions provide reliable and accurate segment data, leveraging their knowledge engine and data lake. This empowers you with actionable insights that drive better sourcing decisions and improve your overall T&E program.
You can start by contacting a provider of AI-powered T&E sourcing solutions to discuss your specific needs and schedule a demo. This will allow you to see how the solution can transform your travel and expense sourcing.
These solutions are designed to integrate with a wide range of travel and expense data sources, including TMC, Expense, GDS, Corporate Card, OBT and more using machine learning to validate, cleanse, and consolidate the data into a comprehensive data lake.