ARCLabs, a research and development initiative within ARC, announced its introduction of FareSight at the opening of the 2013 Global Business Travel Association (GBTA) Convention now underway in San Diego. ARC's FareSight allows corporate travel managers to optimize their corporate air travel policies and programs.
FareSight helps corporate travel managers optimize their air travel policies by employing current and historic ARC data directly related to their individual organizations, ARC says. The tool analyses an individual 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 travelers’ preferences based on actual ticket travel – not just preference surveys or policy compliance.
"This tool gives corporate travel departments the necessary insight for fare optimization, and thus the ability to demonstrate value to the organization as a whole," said Doug Weeks, director of global sourcing at Booz and Company.
Michael Brennan, managing partner of Kessel Run Corporate Travel Solutions, commented: "Corporate travel departments can see exactly where their 'problem children' are. This tool quickly pinpoints areas where fares could be improved."
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, ARC notes.