Yapta Provides Price Tracking Technology to CWT
SEATTLE--(BUSINESS WIRE)--Jul 24, 2018--Yapta, the leading provider of airfare and hotel price tracking services, today announced an expanded relationship as the provider of Price Assurance technology for CWT. Under the terms of a new long-term agreement, Yapta’s Intelligent Price Tracking solutions, FareIQ and RoomIQ, will be combined into CWT’s Price Tracking offer and rolled out to CWT customers looking to strengthen their airfare and hotel savings program with automated price tracking. Customers utilizing CWT’s Price Tracking solution will now be able to identify and re-book “savings eligible” flights and hotel rooms directly within the GDS.
“CWT has been an outstanding partner of Yapta for several years, and I’m excited to see our relationship deepen even further,” said James Filsinger, president and CEO of Yatpa. “The entire team at CWT understands the importance of working collaboratively to deliver unparalleled value in the travel ecosystem. CWT’s commitment to providing our industry-best price assurance tools, under its Price Tracking label, sets it apart from other TMCs.”
CWT tested offerings from a variety of competing technology providers and found Yapta consistently out-performed all others, in some cases by a wide margin. CWT’s initial customers in the U.S. were very successful, and the scope for savings across the rest of the world is even greater.
“This technology can save our clients up to 2 percent – that’s a huge sum of money for any company with a sizable travel program,” said Patrice Simon, CWT’s CTO, Strategy and New Product Development. “Best of all, it’s largely automated, running in the background 24/7, delivering savings every single day.”
Currently, CWT counselors manually rebook approximately 1 in 20 itineraries with the same flight or hotel at a lower rate. Fully automating the process will further improve that rate. CWT is committed to an ambitious global expansion of Price Tracking, targeting thousands of clients around the world over the next 18 months.
FareIQ, Yapta’s airfare price tracking solution, 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. Upon recognizing a savings opportunity, FareIQ can automatically re-ticket air reservations without the need of an intermediary agent. Companies adopting FareIQ see an opportunity to save on more than 11 percent of all air travel itineraries, with an average identified savings of $260 per ticket. 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.
RoomIQ, Yapta’s hotel rate tracking solution, dynamically monitors U.S. domestic and international hotel bookings, looking for rate reductions at the same hotel. Once a savings opportunity has been identified, RoomIQ then issues an alert in the local currency. Companies utilizing RoomIQ see an opportunity to save on approximately 12 percent of all hotel bookings tracked – with an average savings of $109 per booking. Overall, RoomIQ has helped companies lower their ADR by 4.7 percent.
For more information on how FareIQ and RoomIQ are delivering real savings to managed travel programs, visit Yapta.com.
About Yapta Yapta’s mission is simple: To give our customers confidence in travel. To that end, we are the world’s leading company for airfare and hotel rate price assurance, analytics, and cost savings. We dynamically monitor billions of prices every month, and transform that data into highly meaningful savings, insights, and reports. Since 2007, we’ve brought technology leadership to the travel landscape and our 7,000+ corporate customers. Recently named to Deloitte’s Fast500 for North America for 2017, Yapta pioneered the category of travel price assurance. We’re driven to help build confidence in our customers’ travel programs. www.yapta.com
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PUB: 07/24/2018 07:00 AM/DISC: 07/24/2018 07:01 AM