Engenion wins big at the Globee Awards

Stuttgart, 17 July 2024. “Our budgeting is mostly guesswork and manual adjustments,” said an automotive development engineer about a widespread issue in the industry. For years, automotive manufacturers have struggled with managing their big R&D budgets, often leading to inefficiencies and overspending.

Enter Engenion.  The pioneering Project Portfolio Management (PPM) tool is designed to eliminate the guesswork from budgeting. Recognised at the Globee Awards for Technology, Engenion won in three categories: Most Innovative Company of the Year – Cloud/SaaS, Project and Portfolio Management, and Most Innovative IT Software. Engenion stands out for its unique features:

• Object-Activity-Value (OAV): Unifies work activities, objects in development, and resource expenditure, offering real-time budget and performance insights.
• Meta-Data Tagging: Tags all system inputs, enabling accurate future project cost forecasts based on historical data.
• AI Integration: Includes a personal assistant for simple data queries and a report assistant for voice-command report generation.

Impressive savings

Engenion has over 20,000 users and manages several billion Euros in development value. It has also delivered significant cost savings, reducing project development budgets by around 5%.Compared to the classic Work-Breakdown-Structure Logic of many PPM Tools, Engenions  innovative Object-Activity-Value (OAV) framework provides a unified framework for engineers and executives, enhancing cost transparency, data consistency, and decision-making. Compared to a classic work breakdown structure of conventional PPM solutions, the OAV structure enables a precise assignment of products and services to individual projects. It creates consistent transparency with regard to project affiliation, budget responsibility and development costs. Standard templates ensure consistent project setup and the integration of OAV structures in the planning phase. This ensures compliance with organisational standards and facilitates efficient project management.

The latest Engenion release from 1 July introduced numerous new feature and improvements. To name just a few examples, the revised user interface and modernised design offer an intuitive and visually appealing user experience. In addition, the new portfolio staffing functions enable the prioritisation of projects based on strategic objectives. Enhanced filter options, the comparison of capacities and hourly allocations, and the consideration of personnel costs enable proactive management of human resources.

Engenion recently also received awards as “Best New Product” and “Most Innovative Solution” in June at the Best in SaaS Awards, and GFT earned the title of “Best Company” for its excellent work in the area of task management software.

Engenion is part of the GFT AI.DA Marketplace, a platform that combines predictive and generative AI technologies and data analytics. The GFT AI.DA Marketplace promotes the development and introduction of AI applications by providing a comprehensive collection of use cases, methods, reference architectures and preconfigured solutions. This helps to significantly accelerate the digital transformation.

Engenion’s recognition at the Globee Awards underscores its status as a leading solution in the PPM market.

In addition to comprehensive specialist consulting, GFT also offers software products in the areas of compliance and project portfolio management. These products are used by clients in over 60 countries.