Yapta announced today that enterprise customers using FareIQ, Yapta’s corporate airfare price tracking solution, have saved a combined total of more than $5 million in airfare.
Since the launch of FareIQ in May 2012, companies that have chosen to have their airfare prices tracked by the technology have saved an average of $185 per itinerary.
“More and more companies are realizing that a lot happens between the time you buy and the time you fly – and that by intelligently tracking airfare prices, they can save significantly on their travel costs,” said James Filsinger, President and CEO of Yapta. “I’m extremely excited that our customers have saved over $5 million by using FareIQ. That’s real money back in their pockets. And at an assumed average ticket price of $880, that gives our customers the opportunity to go on nearly 5,700 more trips with that money. That’s incredible when you think about it.”
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.
Companies adopting FareIQ are seeing an opportunity to save on more than 10% of their overall itineraries. To date, FareIQ has tracked over $750 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 is delivering real savings to managed travel programs, visit FareIQ.Yapta.com.