Managed Travel Programs Realizing an Average Savings of $279 per Itinerary
Seattle, WA – November 14, 2012 – Yapta today revealed that early customers of FareIQ, Yapta’s corporate airfare price tracking solution, have realized an average savings of $279 per itinerary since initiating their use of the technology in June of this year. Companies adopting FareIQ are also seeing an opportunity to save on approximately 10% of their overall itineraries – nearly double the savings rate yielded by FareIQ during its initial proof-of-concept test conducted industry-wide earlier this year.
“While it’s still too early for most FareIQ customers to publicly discuss their organization’s specific results, everyone involved is extremely pleased with the initial volume of airfare savings that FareIQ has been able to provide thus far,” said James Filsinger, President and CEO of Yapta. “It’s an exciting time for Yapta as we are delivering breakthrough technology for those operating in the T&E management space. We will continue to steadily build a base of loyal corporate customers by delivering significant savings in a manner that is extremely efficient and doesn’t impact the end traveler.”
Yapta’s patent-pending Intelligent Price Tracking™ technology provides in-depth, 24×7 analysis and insights into corporate airfares via the FareIQ web portal, 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 monitoring pricing on individual passenger name records (PNRs) that are placed in 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, enabling savings to be acted upon by an agent or a travel manager.
To date, FareIQ has tracked nearly $20 million in airfare spend for its early adopters. 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.
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 quickly gained more than 1 million registered members and delivered more than $450 million in airfare savings alerts to consumers. Today, Yapta’s technology is helping companies with heavy travel volumes reduce their spend and extend their T&E budget by constantly tracking booked airfares 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.