April 18, 2024

Egencia adds rate-tracking technology

Travel management company Egencia has used machine learning to introduce rate-tracking and rebooking technology for air and hotel reservations.

After customers book a flight, the TMC’s new Savings Finder for Air tool automatically tracks price variations and rebooks tickets where appropriate and on the same class basis with the same amenities.

Similar rate tracking and rebooking technology for accommodation is currently being piloted and is expected to be made available on a wider scale in the first quarter of 2020.

“Companies want to wring every bit of value from their business travel budgets,” says Mark Hollyhead, Chief Operating Officer and SVP of Customer Success at Egencia.

“Every dollar saved when an air or hotel booking is reshopped at a lower rate adds up, allowing our clients to book more trips and spend more time engaging suppliers, engaging clients and engaging employees.”

The TMC is also using machine learning as part of Smart Mix to provide quicker, more intuitive booking experiences, with more relevant search results.

It analyses data from simple to complex scenarios and may factor in the personal preferences of each traveller, along with the company’s travel policy, to deliver smarter search results, says the TMC.

“We know business travellers don’t have time to sort through what could be thousands of results to find the best option at the best price within their policy,” said Alex Kaluzny, SVP and Chief Product and Technology Officer at Egencia.