ARLINGTON, Va., Sept. 30, 2013 /PRNewswire/ -- ARC announced today that it has released a beta version of FareSight™, a Web-based tool that enables corporate travel managers to optimize their company's air travel program. ARC is expected to move FareSight to general availability by the end of 2013.
FareSight accesses current and historic ARC data directly related to a travel manager's particular organization, and provides an analysis of their company's air travel patterns and spending. The tool also compares the company's average ticket price for any origin and destination with the overall market.
"To me, FareSight is an important innovation for corporate travel managers," said Cheryl Benjamin, travel manager of Dart Corporate Travel. "What I especially like about the product is its ability to provide both awareness and understanding of my company's travel spend and profile based on solid ARC data. This knowledge will allow me to provide my management with reliable reports and show them where improvements can be made to our overall corporate travel program."
FareSight is also useful to corporate travel consultants and procurement or finance managers, as it can assist in monitoring and impacting corporate air travel policy, auditing and negotiating airline ticket rates, and identifying potential cost savings. FareSight can also help corporate travel managers profile travellers' preferences based on actual travel – not just preference surveys or policy compliance. More FareSight information is located at http://www.arccorp.com/faresight.
ARCLabs, a research and development initiative within ARC, developed FareSight as part of its mission to focus on creating new products and services, and provide industry insight based on the company's extensive warehouse of airline ticketing data. Further information about ARCLabs can be found at http://www.arccorp.com/arclabs.
"From the start of FareSight development, a host of corporate travel managers helped ARCLabs understand their needs and desires for an application such as this," said Doug Mangold, ARC's managing director of product management. "During this current phase, they are involved again for critical feedback as FareSight approaches its commercial launch in December. Getting customers involved during a given product's evolution – from concept to delivery – is a hallmark of ARCLabs' creative process. We believe this type of approach will make FareSight and any future products more compelling to our customers."
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