(BTS stand no. B1107)
The tool from the airfare and hotel rate monitoring service helps corporates gauge supplier performance and optimise policy compliance.
It uses a combination of real-time hotel availability data and machine learning to identify areas of focus where companies can create or improve savings opportunities, and delivers information on supplier utilisation and performance, contract rate performance and travel policy effectiveness.
TravelAI aggregates hotel pricing data from across millions of travel itineraries tracked by Yapta, thereby creating benchmarks by spend, geography, industry and supplier.
“Travel managers are demanding insights that are prescriptive and actionable,” says Valerie Layman, Chief Product and Services Officer at Yapta.
“TravelAI highlights exactly where the contract rate and policy breakage occurs and allows issues to be addressed immediately.
“Because the solution examines all available rates at the time of booking, it provides travel managers with clear guidance on whether a traveller made a decision to book a higher rate or premium room type when a standard contract room rate is available or if the supplier is not performing.”
Yapta President and CEO, James Filsinger, adds: “TravelAI is quite literally transforming the way contracted travel spend gets managed and sourced.
“Travel buyers can now have the confidence that they are sourcing with the right suppliers, at the right rates, in the right markets – all while having Yapta’s price assurance tools working in the background.”
Yapta plans to roll-out commercial availability of TravelAI for airfares in Q2 2019.