Product News: Software
Data Analysis Software helps optimize corporate air travel.
Press Release Summary:
January 13, 2014 - Offered as Web-based tool, FareSight™ accesses current and historic ARC data directly related to travel manager's particular organization to provide analysis of air travel patterns and spending. Tool also compares company's average ticket price for any origin and destination with overall market. Functionality lets corporate travel consultants and finance managers monitor and adjust corporate air travel policies, audit and negotiate airline ticket rates, and identify potential cost savings.
Original Press Release
ARC Announces General Availability of FareSight Air Travel Optimizing Tool
Press release date: January 8, 2014
Release Follows Successful Beta Testing by Corporate Travel Managers
ARLINGTON, Va. -- ARC announced today that it has moved FareSight((TM)), the company's Web-based tool for corporate air travel optimization, to general availability status. This release is the result of a successful beta program, which involved more than a dozen corporate travel managers.
FareSight accesses current and historic ARC data directly related to a travel manager's particular organization, and provides an analysis of their company's air travel patterns and spending. The tool also compares the company's average ticket price for any origin and destination with the overall market.
"As a corporate travel manager, FareSight allows me to pinpoint travel policy improvement opportunities by comparing our advance purchase and exchange rates to everyone traveling in the same markets as we are," said Rene Colyer, corporate travel department manager at Exelis, Inc. and board of directors member of the Corporate Travel Department Association (CTDA). "With FareSight, I also can validate the cost savings of our corporate air contracts by comparing our city pair airfares against the market average."
Corporate travel consultants and finance managers can harness FareSight's power to monitor and adjust corporate air travel policies, audit and negotiate airline ticket rates, and identify potential cost savings. FareSight can also help corporate travel managers profile travellers' preferences based on actual travel -- not just preference surveys or policy compliance.
"We are delighted to announce the release of FareSight based on the positive outcome of our beta testing program," said Doug Mangold, ARC's managing director of product management. "It was very gratifying to see the ease with which corporate travel managers effectively leveraged FareSight during beta testing, showing us that this is an intuitive product that provides an optimum user experience. ARC is indebted to our corporate beta users and the CTDA for allowing us to work with them to test FareSight. Their feedback was an important part of our development process and this newly released version."
More FareSight information is located at http://www.arccorp.com/faresight.
ARC powers the U.S.-based travel industry with premier business solutions, travel agency accreditation services, process and financial management tools, and powerful data analytics. In 2012, ARC settled $84 billion worth of carrier ticket transactions for more than 9,400 travel agencies with 15,000 points of sale. By providing world-class business services and products, ARC enables participating agencies and 194 carriers to focus on what's important -- increasing their revenue. Established in 1984, ARC is headquartered in Arlington, Va. For more information, please visit www.arccorp.com.
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