Yapta announced a milestone earlier this week. It’s enterprise customers using FareIQ, Yapta’s corporate airfare price tracking solution, have saved a combined total of more than $1 million in airfare. To date, companies that have chosen to have their airfare prices tracked independently by FareIQ have saved an average of $159 per itinerary.
“FareIQ has revealed a significant area of uncharted savings for our corporate travel clients,” said Michel Botbol, COO of Ultramar, a FareIQ solution provider. “We are constantly looking at innovative technologies that reduce our client’s travel spend, and FareIQ’s ability to deliver actionable pricing data on each PNR has shown it can have a material impact from an overall cost savings standpoint. The solution’s fully transparent and detailed reporting provides essential validation and accountability of the actual bottom line savings. We’re excited to introduce this intelligent price tracking technology to additional customers, providing them with greater visibility into price volatility and the ability to act on any potential savings.”
FareIQ’s patent-pending Intelligent Price TrackingTM technology provides in-depth, 24×7 analysis and insights into corporate airfares, spotlighting opportunities to re-book tickets at lower prices, saving corporations crucial T&E dollars on a daily basis. The solution integrates seamlessly with agents’ workflow by dynamically monitoring pricing on individual passenger name records (PNRs) that are placed on a queue by the corporation or its travel management company. Upon recognizing a savings opportunity, FareIQ immediately issues a series of messages, including email alerts, a FareIQ web portal notification, and remarks posted directly in the PNR, that enables those savings to be acted upon by an agent or a travel manager.
“While enabling our FareIQ customers to achieve $1 million in airfare savings is a significant milestone for Yapta, it represents just a fraction of the total dollars that could be saved if every company took advantage of our innovative solution,” said James Filsinger, President and CEO of Yapta. “Driven by our singular purpose to save our customers money, FareIQ is able to deliver hard dollar savings that can have a significant impact on the bottom line. For example, a company that spends $10 million a year on air travel could see savings of more than $30,000 every month. Tracking airfare prices with FareIQ should be a part of every corporate travel program’s best practices. Any large travel organization that is not using FareIQ, I guarantee is leaving money on the table.”
Companies adopting FareIQ are also seeing an opportunity to save on more than 10% of their overall itineraries. To date, FareIQ has tracked nearly $160 million in airfare spend for its customers. Any savings identified by FareIQ on behalf of its customers are over and above any airline imposed change fees and agency re-booking fees, ensuring customers see true value to their bottom line.
For more information on how FareIQ can deliver real savings to managed travel programs, visit FareIQ.Yapta.com.