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Case Study: Savings opportunities in airfare rate tracking

Our clients agree, it’s our investment in innovative technology that sets us apart. TRAVEL & EXPENSE spending is a growing cost for most companies, with airfare representing the bulk of that figure. CTM Helps customers capitalize on rate fluctuations by implementing Yapta’s patened FAREIQ technology.

The Challenge

As business travel spend increases,  traveler-centric policies and a focus on the traveler experience are emerging as important goals. End users want to be delighted. Travel managers need a way to drive airfare savings, without ignoring individual traveler’s itinerary needs, preferences and overall experiences.

To satisfy these competing agendas, Corporate Travel Management (CTM) wanted to leverage real-time pricing data for its corporate clients—all with significant air volumes. Using intelligent monitoring tools, CTM aimed to help clients secure the best rates—even when travelers required a preferred carrier, preferred travel dates, travel times, seat classes, or other personal criteria.

The Solution

CTM introduced corporate clients to FareIQ, a patent-pending technology from Yapta, which provides round-the-clock insights on corporate airfares. FareIQ’s dynamic monitoring goes into effect at the time of booking, and continues tracking price drops through the day of departure. If FareIQ spots an opportunity to re-book tickets at a lower price, CTM immediately reissues the ticket at the lower airfare. In this way, FareIQ offers seamless integration into the workflows of our agents and/or corporate travel managers.

Results

To date, FareIQ has identified nearly $620,000 in savings opportunities for sample customers in a range of industries and travel spend. More than $150,000 of that amount was realized through re-bookings—an average savings that equals 1.1% of clients’ annual air spend.

calloutSTUDY SUBJECTS AT A GLANCE

Partner 1: Computer Software, $1 million in annual gross air sales
Partner 2: Telecommunications, $3 million in annual gross air sales
Partner 3: NPO, $7 million in annual gross air sales

KEY FINDINGS

CTM helped these corporate customers achieve the following results:

Key Findings

Results indicated 67% realized savings for a software company, 44% realized savings for a communications firm, and 61% realized savings for a non-profit organization

Let us help you

CTM supports many customers, and our own operations, with fare and room rate monitoring from Yapta. As one of the first agencies in North America to introduce the tool, let CTM guide your fare monitoring strategy to capture the highest possible savings.

Contact CTM today.

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