ARLINGTON, Va., July 29, 2013 /PRNewswire/ -- ARC announced today the creation of ARCLabs, a research and development initiative within the company that will focus on developing new products and services built on ARC's data. ARCLabs will be previewing its first solution, FareSight, at the upcoming GBTA (Global Business Travel Association) Convention 2013 at the San Diego Convention Center, August 4-7.
FareSight helps corporate travel managers to optimize their air travel policies by employing current and historic ARC data directly related to their individual organizations. The tool provides analysis of a company's air travel patterns, travel spending and average ticket price, and compares those factors with the overall market. In addition, FareSight allows corporate travel managers to profile travellers' preferences based on actual ticket travel – not just preference surveys or policy compliance.
"Drawing from the vast amount of data stored in ARC Compass, ARCLabs has the capability to create game-changing products that will offer a better way for our travel industry colleagues to power their businesses," said Mike Premo, president and CEO. "ARC's unique positioning as the U.S. air ticket settlement engine allows customers to better understand their performance in comparison with the entire U.S. travel agency system. We're excited to premiere ARCLabs and FareSight, as we think we can offer something special for both GBTA's buyer and supplier communities."
Corporate travel managers attending GBTA are invited to stop by ARC's booth (#545) for a demonstration of FareSight. At the booth, and on the ARCLabs information page (arccorp.com/arclabs), visitors can volunteer to be included in the ARCLabs initiative by lending their ideas and insight in exchange for beta testing opportunities and pre-release information.
ARC is also hosting an exclusive after-party for GBTA attendees with co-sponsors Diio and UATP on Monday, August 5 from 9 p.m.-12:00 a.m. at Hard Rock Hotel's Float rooftop bar. Those wishing to attend are asked to stop by booth #545 to receive their all-access backstage pass.
ARC powers the U.S.-based travel network with premier business solutions, travel agency accreditation services, process and financial management tools, and powerful data analytics. Nearly 14,000 travel agencies and 190 airlines use ARC's settlement services, which in 2012 totaled more than $84 billion. As the industry's gold standard of accreditation, ARC allows participating agencies and carriers to focus on what's important – increasing their revenue. Established in 1984, ARC is headquartered in Arlington, Va. For more information, visit www.arccorp.com
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