TRX Introduces Next Generation in Hotel Analytics
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TRX Introduces Next Generation in Hotel Analytics
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Category: Worldwide
This is a press release selected by our editorial committee and published online for free on 2009-09-01
Patent-pending methodology improves accuracy and increases savings opportunities for corporations
TRX, Inc. (NASDAQ:TRXI), a global technology company that develops and hosts software applications to process data records and automate manual processes, today announced the addition of Strategic Market Segmentation (SMS) to TRX Travel Analytics' hotel spend management offering.
SMS is patent-pending methodology which identifies hotels in relation to a client's concentrated spend through an enhanced proprietary geo-coding and clustering algorithm. This approach helps eliminate analysis gaps, increases negotiating leverage by including comparable properties, and provides greater visibility into second-tier markets where greater savings may be attainable.
"Infusing Strategic Market Segmentation into our hotel analytics offering, where we apply high-order clustering techniques and analysis, sets our service apart from the traditional, highly manual approaches deployed in the market today," said Dan Pirnat, VP and GM of TRX Travel Analytics. "We believe our new approach represents the next generation in corporate travel hotel analytics and will quickly become the industry standard."
"The current hotel sourcing approach has traditionally been slow, cumbersome, and highly manual," said Shane Hammond, President and CEO, TRX. "The TRX Travel Analytics team has developed innovative, sophisticated, and patent-pending algorithms that optimize the hotel bid list process saving both time and money."
TRX Travel Analytics offers deep category expertise and unbiased support to corporations that wish to actively manage travel procurement and spend analysis. Using innovative and patented technologies to power its travel analytics services, the solution helps travel and procurement managers make smart decisions about their suppliers and travel policies, with a focus on achieving practical savings.
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