Enterprise Spend Control via Real-Time Budget Simulation

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Solution Overview

Problem

Conventional financial management systems in organizations with multiple sub-entities struggle to track real-time budget and expense data, accommodate changes in purchase orders and invoices, and provide accurate, real-time visibility into budget status, leading to underutilization or overspending due to technical limitations.

Innovation Solution

A data processing system utilizing an AI engine to classify and analyze real-time datasets, simulate impacts on budget control towers, and adjust budgets dynamically, with a graphical user interface for real-time monitoring and decision-making, enabling informed readjustments and automated resolution of discrepancies.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Adaptability or versatility

If conventional financial management systems are used to manage budgets, then the system structure is simple and easy to implement, but the system cannot track real-time budget and expense data and cannot accommodate changes in purchase orders and invoices

Engineering Contradiction:

Improveability to accommodate changes in purchase orders and invoicesVSAvoidsystem complexity

Core Design Contradiction:

Adaptability or versatilityVSDevice complexity

Solution Approach 1:

The patent implements dynamic budget tracking by continuously updating budget status in real-time as purchase orders and invoices are processed. The system dynamically adjusts budget allocations and status indicators based on actual spending data, allowing the budget management system to adapt to changing financial conditions without requiring manual reconfiguration.

Inventive Principle:

Principle #15Dynamics

Solution Approach 2:

The system incorporates feedback mechanisms that automatically monitor budget consumption and provide real-time status updates. When purchase orders are created or invoices are processed, the system feedbacks the updated budget status to relevant users and stakeholders, enabling continuous adaptation to financial changes without system complexity increases.

Inventive Principle:

Principle #23Feedback

2Measurement precision

If real-time tracking of budget and expense data is implemented, then accurate budget status visibility is achieved, but the processing complexity and computational resources required increase significantly

Engineering Contradiction:

Improveaccuracy of budget status trackingVSAvoidprocessing complexity

Core Design Contradiction:

Measurement precisionVSDevice complexity

Solution Approach 1:

The system performs preliminary actions by pre-calculating budget allocations and establishing real-time tracking mechanisms before actual spending occurs. Budget status is pre-established and automatically updated as transactions happen, eliminating the need for complex post-processing calculations and reducing real-time computational requirements while maintaining high measurement precision.

Inventive Principle:

Principle #10Preliminary action

3Adaptability or versatility

If static budget management processes are used, then the system is easy to operate and maintain, but the system cannot provide real-time visibility into budget status and cannot accommodate sudden changes or requirements

Engineering Contradiction:

Improveability to accommodate sudden changesVSAvoidoperational simplicity

Core Design Contradiction:

Adaptability or versatilityVSEase of operation

Solution Approach 1:

The budget management system operates autonomously by automatically processing purchase orders, invoices, and other financial transactions without requiring manual intervention. The system self-updates budget status, generates alerts for budget constraints, and provides real-time visibility through automated reporting, maintaining operational simplicity while enabling sudden changes to be accommodated through automatic processing.

Inventive Principle:

Principle #25Self-service

4Adaptability or versatility

If multiple protocols are used to process different template documents like purchase orders and invoices, then comprehensive data processing capability is achieved, but the processing time and system complexity increase

Engineering Contradiction:

Improvecapability to process different document typesVSAvoidprocessing time

Core Design Contradiction:

Adaptability or versatilityVSLoss of time

Solution Approach 1:

The system implements a universal processing framework that handles multiple document types (purchase orders, invoices, change orders) through a single integrated protocol. The system uses standardized data parsing and validation mechanisms that work across all document types, eliminating the need for separate processing protocols for each document type and significantly reducing processing time while maintaining comprehensive capability.

Inventive Principle:

Principle #6Universality (Multi-functionality)

Data Source

PatentUS20230042458A1Data processing for spend control and budget management

Publication Date: 2023.02.09 NB VENTURES INC DBA GEP

AI summary

The present invention provides a system and a method of data processing for spend control and budget management in enterprise application. The data processing includes tracking, monitoring, and analyzing one or more datasets of a plurality of entities in real time. The system processes one or more data attributes associated with the received data objects based on one or more data models and determines an impact of the received data object on a data control tower through a data simulation thereby enabling informed readjustment of the data control tower.