Yapta’s solutions alert travel procurement agents when employee travel is eligible for savings as a result of a price decrease, and allows for the capture of the identified savings. Yapta’s airfare price tracking service, FareIQ, identifies savings for companies on more than 11 percent of booked 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 that its users see true value to their bottom line. Yapta’s hotel price tracking service, RoomIQ, dynamically monitors U.S. domestic and international hotel bookings across 115 countries, 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 are seeing 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 Average Daily Rate (ADR) by 4.7 percent. Not only do Yapta's solutions provide unprecedented visibility into travel spend, but they've also helped usher in new best practices for business travel procurement. For the first time, travel procurement managers can use supplier pricing data to their advantage by tracking travel prices from a number of different angles - including negotiated rates versus public rates, penalty versus non-penalty rates, and prices inside and outside of the void window, among other approaches. They can use these insights to strengthen negotiations with travel suppliers that are becoming more and more reliant on dynamic pricing strategies.
Nominated for: Best Procurement or Supply Chain Solution
Yapta brings confidence to corporate travel purchasing. By tracking airfare prices and hotel rates on booked travel itineraries, Yapta’s clients can rest assured that their travelers are getting the best value for every dollar spent.