Your corporate travel department is feeling the squeeze these days, isn't it? Between new corporate travel policies, rising travel costs and reduced budgets, you are really being asked to do much more with much less. FareSight gives you the tools to see how your fares measure up to the market, and in turn, analyze your air travel budget and optimize your air travel program. Offering the most comprehensive airline ticketing data available on the market, from ARC's Compass data warehouse, FareSight provides analysis of your company's air travel spend.
FareSight assists with monitoring your corporate travel policy as well as the effectiveness of your airline partnerships—helping you identify areas for potential cost savings. In addition, the tool allows you to profile your travelers' preferences based on actual ticketed travel and not just preference surveys or policy compliance. FareSight offers four interactive dashboards, featuring charts and tables that allow you to drill down on specific data points of interest with a variety of filters. Using these dashboards, you can generate and export reports for further analysis.
Overview offers a first glance at the most important metrics found within FareSight, including last-minute travel metrics, a list of origins and destinations with the greatest saving potential and top carriers by spend amount. To help you prepare for executive meetings, this dashboard offers overview snapshots of your key benchmarking metrics, as well as the ability to drill down into a particular point of interest via the data displayed in the charts for on-demand performance insights.
Travel Spend offers a high-level financial look at your air travel program, which in turn helps you identify cost saving opportunities within your travel program. This dashboard displays your organization's total and average air travel spend broken down by class of service, and total expenditure breakdown for both international and domestic travel. This dashboard offers visibility into total air travel spend trends over time. To help you identify inefficiencies, the Travel Spend dashboard uses key performance indicators—including issued ticket count, refunds and exchanges, total penalty, and cost per cancelation metrics to allow you to pinpoint areas for potential cost savings in a specific time period.
Policy Benchmarks helps you quantify your employees' ticketing behavior in three policy areas and how your organization's performance compares to market. This dashboard offers an advance purchase analysis in five ranges; a class of service analysis relative to the five classes of service; and a refunds and exchanges analysis based on either your ticket distribution or spend in dollars. The Policy Benchmarking dashboard helps you understand how your dollars are being spent, where improvements in policy compliance may offer cost savings and offers an opportunity to validate your travel program.
O&D Benchmarks help you visualize how you're performing on each origin and destination (O&D) compared to market and identify outliers using key performance metrics—including savings potential, O&D count, your average prorated ticket amount and market average prorated ticket amount. View your data compared to your choice of two market benchmarks, either the entire ARC database or just the corporate market. You can also display the traveler-specific details associated with tickets purchased by clicking on the number in the O&D Count column.
Carrier Performance offers a detailed look at your company's air spend by ticketing carrier. See how much your company is spending with ticketing carriers for each O&D city pair, including average prorated ticket amount and share of travel spend apportioned to each carrier. With this dashboard, you can optimize your existing contracts with carriers and identify the potential markets for reallocation of share for more cost savings.
The tool's dashboards are unique and relevant. Along with the filters, they help corporate travel departments accurately analyze air travel activity and practically in real-time.Christina Adams, Georgia-Pacific
FareSight allows you to view your company's air travel spend trends over time and compare these to the entire industry—or just corporate travel data. You can even break down your analysis by five different classes of service.
Identify markets where your company is overpaying for similar tickets compared to overall market spending averages as well as corporate travel specific averages.
Analyze the impact of refunds and exchanges as well as last-minute travel to identify where this is used most often, as well as when this is used most often, by breaking this data down by calendar quarter.
FareSight can help you analyze air volume and costs by O&D to indicate target routes or carriers needing further price negotiations. You can also determine your company's spend per carrier by class of service as well as by domestic or international travel.
FareSight displays your travel performance for each of the O&D city pairs and compares this data to market averages. Analyze travel performance by ticketing carrier for each O&D city pair, including average fare and share of travel spends allotted to each carrier.
FareSight can show you the destinations that are seeing an increase in volume of travelers from your corporation to help you identify where a preferred airline partner might be needed.
Have you heard about FareSight, but are unsure if this product can really help you optimize your corporate air program? Read how ARC's premier corporate travel solution helped Fox World Travel leverage industry-wide air travel data to evaluate their travel management practices and validate cost savings for customers in this exclusive industry case study. Fill out this short form to receive your copy now.