NEW YORK, Oct. 27, 2016 /PRNewswire/ -- Rocketrip, the leading technology platform for reducing corporate travel costs, today unveiled Insights, a powerful new analytics dashboard. Rocketrip Insights demystifies all the choices that drive corporate travel spending. Its tools can help companies reduce expenses, simplify travel management, and keep employees safe.
Rocketrip cuts a company's average business trip cost 30% by incentivizing employees to spend less on their flights, hotels, trains, and rental cars. The Insights dashboard amplifies these savings by giving companies the data they need to make better decisions about corporate travel. The new functionality goes beyond the typical reporting capabilities of travel management companies (TMCs) by uncovering the main factors driving employee spending, and by aggregating data from all travel vendors – airlines, hotels, car rental companies, and even Airbnb.
"Rocketrip Insights is the most comprehensive travel analytics tool on the market. It turns thousands of trips and spending decisions into a clear, complete picture of corporate travel," said Dan Ruch, CEO of Rocketrip. "This dashboard will help our customers simplify travel management and discover new ways to reduce expenses. It's all about pinpointing behaviors, habits, and patterns that affect your bottom line."
Rocketrip designed Insights to fit the diverse needs of finance, HR, and travel professionals. The console has five capabilities that differentiate it from other travel analytics tools:
- Aggregated Travel Expenses – Insights organizes travel spending by behavior to highlight problem areas and shows opportunities for savings. It can break down flight, hotel, train, and rental car data by department, individual employees, routes, and more.
- Automated Compliance – Insights takes an enormous burden off finance and HR teams by automating the travel compliance review process. Rocketrip automatically flags itineraries that conflict with company policy or cost an unusual amount. Insights keeps tabs on average market prices so that administrators have context when evaluating an expensive trip.
- Vendor Comparison – Insights will soon feature a travel analytics repository will be the first of its kind. Rocketrip is building this data set to show clients how flight prices, availability, and other criteria compare among vendors on a given route. For example, if employees regularly travel between New York and London, a travel manager will be able to use comparison data to negotiate discounted rates with vendors and advise employees on the best options.
- Traveler Security – Rocketrip will soon introduce a World Map View to help compliance and risk managers meet duty of care requirements. World Map View will show where all travelling employees are at any given moment. In emergencies, employee contact information and location data (derived from itineraries) will be accessible from the World Map View.
- Benchmarking – Insights will soon be able to benchmark a company's travel spend against other companies that use the platform. Finance professionals will be able to anonymously compare their average trip, flight, hotel, and rental car costs to those of similar businesses. This tool can also show how travel behaviors vary among employees, departments, and offices.
Rocketrip is the leading tech platform for reducing corporate travel costs. By letting employees keep half of what they save on their business trips, Rocketrip motivates responsible spending. The platform's algorithms integrate a company's travel policy with real-time trip pricing and availability to create a personalized "Budget to Beat" for each trip. Employees book using their favorite travel websites or a travel management company, and Rocketrip provides employers with insights and analytics on company spending, savings and employee travel behavior.
Rocketrip is based in New York City and has received funding from Canaan Partners, Bessemer Venture Partners, Genacast Ventures, Crunchfund, Y Combinator, and angel investors.
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