Travel data management company Travelogix will launch its new airline incentive management software Farecast at Travel Technology Europe 2020.
Farecast was developed to help travel agencies, travel management companies (TMCs) and other industry professionals to track the performance of their airline overrides and commercial contracts.
Travelogix says the software will give customers instant access to detailed revenue, partner contribution metrics and airline ticket statistics for them to have the insight to negotiate better deals.
The software claims to collect data from any global distribution system in real-time when a ticket is issued, amended or exchanged allowing travel companies the opportunity to optimise revenue from override and commission agreements.
Chris Lewis, chief executive and founder of Travelogix, said: “We are excited to announcing Farecast at TTE this year. You need a fast platform when analysing data and Farecast is built to be both detailed and immediate.”
“This system has been designed to work at scale, no matter how large your agency or agency group, with data presented in a clean intuitive interface that is easy to use and simple to navigate.”
Users of Farecast reportedly can configure the terms of any airline contract and track live performance against targets and identify where agencies or members are booking off contract.
“This increased visibility and control of data will enable users to increase revenues as well as delivering reliable data to help with airline negotiations,” added Lewis.
Abby Penston, chief executive of Focus Travel Partnership, said: “This bespoke technology has been designed to assist the Focus Travel Partnership central team to proactively manage the commercial arrangements between airline suppliers and TMC partners.”
“Today it is vital that data is managed analytically but also tactically. The advantages this technology brings to the Partnership ensures the TMC partners are maximising the best opportunities the negotiated commercial programmes provide, which allows them to remain competitive and provide their corporate clients the best fares in the marketplace.”
“Farecast is sophisticated enough to allow us manage our programmes in real time which brings us a huge advantage in our negotiations and management of our supplier programmes providing up to date accurate market intelligence at the touch of a button.”
Lewis added, “Member contribution analysis allows multi-branch agencies and groups to analyse how each is performing and contributing to a contract. This platform is the first of its kind and we are thrilled to be launching it at TTE.”
Travelogix will be at booth T77 and can give live demos of the product.