LOS ANGELES, July 28, 2014 /PRNewswire/ -- ARC announced today that it has partnered with the International Air Transport Association (IATA) to bolster ARC's FareSight™ and help global corporate travel managers optimize their company's air travel policies and programs worldwide. When development is complete, FareSight will be able to query current and historic data from both IATA's Billing and Settlement Plan (BSP) and ARC's Area Settlement Plan (ASP), providing access to more than 455 million yearly air ticket transactions worth US$254 billion.*
The announcement was made here at the 2014 Global Business Travel Association (GBTA) Convention, where FareSight demonstrations are taking place in ARC's booth (#2413).
FareSight offers corporate travel managers around the world the ability to compare their air travel costs and patterns across different parts of their enterprise or against like-companies in their country, continent or globally. The solution can profile travelers' preferences based on actual ticket travel—not just preference surveys or policy compliance. This valuable information can be harnessed to understand ways to improve processes and policies.
"Since its launch last year, we continued to gather feedback from our customers for ways to improve FareSight," said Doug Mangold, ARC's managing director of product management. "One consistent request, especially from multi-national companies, was to be able to access data from outside the U.S. By integrating the data from ARC and IATA's settlement systems, we will extend FareSight's reach into a global wealth of information so important to companies outside the U.S. and those doing business on an international scale."
Agostino Marcon, director of financial distribution products at IATA commented, "We're excited to be working with ARC to provide a tool that will help corporate travel managers run their program on a global scale. By partnering with ARC, we can provide a global perspective in one place, bringing greater efficiency in data collection to the corporate travel manager."
Last month, ARC announced that FareSight is now available to all corporations, regardless of whether their data is tracked via a dedicated ARC number or not, to analyze their U.S. point-of-sale data.
* Transaction and dollar amount based on calendar year 2013.
ARC powers the U.S.-based travel industry with premier business solutions, travel agency accreditation services, process and financial management tools, and powerful data analytics. In 2013, ARC settled $86 billion worth of carrier ticket transactions for more than 9,400 travel agencies with 15,000 points of sale. By providing world-class business services and products, ARC enables participating agencies and 191 carriers to focus on what's important—increasing their revenue. Established in 1984, ARC is headquartered in Arlington, Virginia. For more information, please visit www.arccorp.com.
The International Air Transport Association (IATA) is the trade association for the world's airlines, representing some 240 airlines or 84% of total air traffic. IATA supports many areas of aviation activity and helps formulate industry policy on critical aviation issues. IATA's wide range of products and services can support the ongoing efforts of many functions in the industry: finance, security, operations, strategic management, safety and much more. For more information, please visit www.iata.org.
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