ARC reports the creation of ARCLabs, a research and development initiative within the company that will focus on developing new products and services built on ARC’s data. ARCLabs will be previewing its first solution, FareSight, at the upcoming Global Business Travel Association (GBTA) Convention at the San Diego Convention Center, August 4-7.
FareSight helps corporate travel managers to optimize their air travel policies by employing current and historic ARC data directly related to their individual organizations, ARC says.
The tool provides analysis of a company’s air travel patterns, travel spending and average ticket price, and compares those factors with the overall market. In addition, FareSight allows corporate travel managers to profile travellers’ preferences based on actual ticket travel – not just preference surveys or policy compliance, ARC says.
“Drawing from the vast amount of data stored in ARC Compass, ARCLabs has the capability to create game-changing products that will offer a better way for our travel industry colleagues to power their businesses,” said Mike Premo, president and CEO.
“ARC’s unique positioning as the U.S. air ticket settlement engine allows customers to better understand their performance in comparison with the entire U.S. travel agency system. We’re excited to premiere ARCLabs and FareSight, as we think we can offer something special for both GBTA’s buyer and supplier communities," Premo said.
Corporate travel managers attending GBTA are invited to stop by ARC’s booth (#545) for a demonstration of FareSight. At the booth, and on the ARCLabs information page (arccorp.com/arclabs), visitors can volunteer to be included in the ARCLabs initiative by lending their ideas and insight in exchange for beta testing opportunities and pre-release information.
Nearly 14,000 travel agencies and 190 airlines use ARC's settlement services, which in 2012 totaled more than $84 billion.