WOBURN, Mass. & SEATTLE--(BUSINESS WIRE)--Travizon Inc., a globally-recognized travel management company, today announced findings from its most recent client business reviews, revealing that its corporate customers are saving an average of 1.1% of total annual air spend by using FareIQ to monitor airfare prices after booking.
“The utilization of FareIQ to identify airfare savings opportunities after booking is quickly becoming a best practice among our corporate clients,” said Anita Salvatore, Travizon’s Executive Vice President, Account Services. “For most large travel organizations, a savings of 1.1% of total annual air spend is quite significant – and it’s all captured automatically, without impacting travelers or straining internal resources. It’s a technology that all companies with heavy air travel volumes should be considering in 2015.”
In September 2013, Travizon was among the first travel management companies to introduce FareIQ to its customers. In 2014, FareIQ tracked Travizon clients with an aggregate annual air spend of over $11 million, identifying nearly $200,000 in savings opportunities – of which more than $121,000 was realized.
FareIQ’s patent-pending Intelligent Price TrackingTM technology provides in-depth, 24x7 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 Travizon. 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 a Travizon agent or a travel manager.
Since the debut of FareIQ in May 2012, the technology has identified savings on 11% of all itineraries tracked, with an average savings of 14% off the original ticket value.
“Companies look to Travizon to not only help optimize their travel expenses, but to ensure a better business travel experience and greater traveler satisfaction,” said James Filsinger, President and CEO of Yapta, developers of the FareIQ technology. “We’re extremely pleased to see that FareIQ has helped Travizon deliver against these expectations and enable enterprise customers to get the most for their travel dollar.”
About Travizon Inc.
Travizon is a global leader in travel, meeting, and expense management solutions. With a proven track record, Travizon simplifies and streamlines the business of travel. Known for its collaborative approach, Travizon is also recognized for innovation and delivering value-added enhancements to global travel programs. Travizon tools and services can be scaled to suit any travel program, regardless of size or travel spend. To learn more about Travizon, visit www.travizon.com.
About Yapta
Yapta is a pioneer in airfare price assurance services for travelers, and the developer of FareIQ, the corporate travel industry’s only independent airfare price tracking solution. Launched in 2007 as the travel industry’s first airfare price tracking and refund alert service, Yapta has delivered more than $550 million in airfare savings alerts to consumers. Today, Yapta’s technology is helping companies reduce spend and extend their T&E budget by constantly tracking booked airfares and hotels and flagging lower rates when they become available. For more information about Yapta, visit www.yapta.com. To learn more about FareIQ, visit fareiq.yapta.com.
