Big news! Earlier today, CWT announced that it has launched a new airfare tracking solution, powered by Yapta FareIQ, that will provide U.S.-based clients the opportunity to capture savings when booked airfares drop in price. Here’s what was announced in their press release:
‘“We are committed to providing our clients with innovative tools that drive efficiency in their travel programs,” said Patrice Simon, vice president, Innovation and Business Development for CWT. “This fare tracking solution provides real-time pricing on each Passenger Name Record (PNR), which can deliver significant cost savings for our clients.”
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 travel dollars on a daily basis. The solution will integrate seamlessly with the workflow of CWT travel counselors by dynamically monitoring pricing on individual PNRs. Upon recognizing a savings opportunity, CWT counselors will proactively re-ticket the reservation if the fare adjustment is in line with the client’s program policies, is appropriate for the traveler and results in net savings. This means that once a traveler has booked through their company’s preferred channel, no further action is necessary to re-ticket the lower fare should one become available.
CWT completed a successful pilot program in 2013 with select clients. “Savings opportunities in mature travel programs can be limited. Having completed a pilot program with CWT and Yapta, I’m confident that the new fare tracking solution will provide savings to our travel program with no disruption to the traveler,” said Pam Massey, senior manager of Global Travel for the Bill & Melinda Gates Foundation. “Travelers may even gain a renewed confidence in booking through the corporate program knowing that they will be ticketed a lower price should one come available.”
“We’re very proud to have one of the world’s leading travel management companies as a reseller of FareIQ,” said James Filsinger, CEO of Yapta. “We look forward to working closely with CWT to help their customers monitor the price of their fares more dynamically – and to help them realize unprecedented savings on their overall airfare spend.”’