Corporations Look for Cost Reductions - Unused Potential With Business Travel Technology from i:FAO

Apr 20, 2001, 01:00 ET from i:FAO

    FRANKFURT am MAIN, Germany, April 20 /PRNewswire Interactive News Release/
 -- Many companies are currently on a crusade to reduce cost.  Staff is
 reduced, advertising budgets are scaled back and investments cut down.
     Often overlooked by the cost reduction officers in the enterprises are the
 billions of dollars in travel expenses which could be saved, if business trips
 are purchased better.  The key to these cost savings is cytric, the market
 leading eProcurement software for business travel.  This product of i:FAO is
 already used in more than 600 corporations.
     Commissioned by i:FAO, the executive consultants of PricewaterhouseCoopers
 (PwC) compared in a research paper interactive on-line reservations for
 business trips with the conventional procedure.  It was pointed out that with
 standard reservations of business trips more than 25% of the process costs can
 be saved.  Conservatively estimated another 5% to 7% are added in direct
 travel expenses.
     The largest advantages of an Internet based booking system are the
 increased cost transparency, an acceleration of the reservation process and
 the cost reductions of the process costs per travel reservation.  The study is
 available on the i:FAO web site, www.ifao.net , free of charge by download.
     cytric provides with more than 900 functions a complete optimization of
 the business travel management process.  Business travelers can book easily
 and fast, while the cytric system guarantees compliance with the travel policy
 in the best interest of the corporation.
     Apart from the advantage of the "on-line" access to the information
 already at the point of travel planning a large optimization potential is in
 the forwarding of the travel data stored during the processes into other
 applications such as travel expense software.  i:FAO has developed an
 integrated solution with adp, a leading provider of travel expense software.
 Corporations can thereby reduce the expenditure for manual entries.
     The publicly listed (Neuer Markt, Frankfurt Stock Exchange) i:FAO AG
 integrates diverse information technologies to establish leading global
 standards for business travel software.  i:FAO is market leader for neutral,
 worldwide available standard software for business travel eProcurement.
     i:FAO offers with cytric, the Internet based eProcurement software for
 business travel management, a comprehensive solution which is already used by
 more than 600 corporations worldwide.
     cytric integrates for companies all necessary functions and includes the
 complete supply chain management by accessing in real-time the inventories of
 700 airlines, more than 51,000 hotels and all major car rental firms.  The
  extremely detailed Travel Management System is comfortable to administrate
 for the corporation and contains more than 900 functions with complete
 functionality for business travel eProcurement inclusive of directional
 purchasing.
     Travelers take advantage of the fastest and easiest booking functionality
 which allows access to cytric through any Internet PC and also wireless
 devices like Palm, Handspring Visor, Sony Clie and devices with Microsoft's
 Pocket-PC system like Compaq Ipaq or HP Jornada.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X73121965
 
 

SOURCE i:FAO
    FRANKFURT am MAIN, Germany, April 20 /PRNewswire Interactive News Release/
 -- Many companies are currently on a crusade to reduce cost.  Staff is
 reduced, advertising budgets are scaled back and investments cut down.
     Often overlooked by the cost reduction officers in the enterprises are the
 billions of dollars in travel expenses which could be saved, if business trips
 are purchased better.  The key to these cost savings is cytric, the market
 leading eProcurement software for business travel.  This product of i:FAO is
 already used in more than 600 corporations.
     Commissioned by i:FAO, the executive consultants of PricewaterhouseCoopers
 (PwC) compared in a research paper interactive on-line reservations for
 business trips with the conventional procedure.  It was pointed out that with
 standard reservations of business trips more than 25% of the process costs can
 be saved.  Conservatively estimated another 5% to 7% are added in direct
 travel expenses.
     The largest advantages of an Internet based booking system are the
 increased cost transparency, an acceleration of the reservation process and
 the cost reductions of the process costs per travel reservation.  The study is
 available on the i:FAO web site, www.ifao.net , free of charge by download.
     cytric provides with more than 900 functions a complete optimization of
 the business travel management process.  Business travelers can book easily
 and fast, while the cytric system guarantees compliance with the travel policy
 in the best interest of the corporation.
     Apart from the advantage of the "on-line" access to the information
 already at the point of travel planning a large optimization potential is in
 the forwarding of the travel data stored during the processes into other
 applications such as travel expense software.  i:FAO has developed an
 integrated solution with adp, a leading provider of travel expense software.
 Corporations can thereby reduce the expenditure for manual entries.
     The publicly listed (Neuer Markt, Frankfurt Stock Exchange) i:FAO AG
 integrates diverse information technologies to establish leading global
 standards for business travel software.  i:FAO is market leader for neutral,
 worldwide available standard software for business travel eProcurement.
     i:FAO offers with cytric, the Internet based eProcurement software for
 business travel management, a comprehensive solution which is already used by
 more than 600 corporations worldwide.
     cytric integrates for companies all necessary functions and includes the
 complete supply chain management by accessing in real-time the inventories of
 700 airlines, more than 51,000 hotels and all major car rental firms.  The
  extremely detailed Travel Management System is comfortable to administrate
 for the corporation and contains more than 900 functions with complete
 functionality for business travel eProcurement inclusive of directional
 purchasing.
     Travelers take advantage of the fastest and easiest booking functionality
 which allows access to cytric through any Internet PC and also wireless
 devices like Palm, Handspring Visor, Sony Clie and devices with Microsoft's
 Pocket-PC system like Compaq Ipaq or HP Jornada.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X73121965
 
 SOURCE  i:FAO