Two major players in the corporate travel data industry are joining forces. Grasp Technologies, which provides data management, consolidation, payment integration and data visualization, has formed a partnership with Traxo, which offers corporate travel data capture and pre-trip auditing.
“The partnership provides corporate travel managers worldwide with the ability to see the most complete data picture of their companies’ business travel, including all on- and off-platform bookings, within Grasp’s robust data and intelligence suite,” Grasp said in a news release emailed to PYMNTS on Monday (Oct. 4). “An industry leader for more than 25 years, Grasp serves more than 150,000 corporate travel departments in over 70 countries through its footprint.”
With Traxo, Grasp says it can — for the first time in two decades — give customers a simple way to view and incorporate so-called “invisible” bookings, a term referring to the roughly 40% of business travel bookings made outside of the corporate travel policy.
“The corporate travel industry needs a truly complete, accurate and timely data solution for tracking and consolidating all aspects of a travel program – a true end-to-end platform that delivers actionable, real results,” said Grasp Technologies’ Chief Sales Officer Dave Lukas.
He added that despite Grasp’s best efforts, “we were missing one piece – one of the most, if not the most important one – unmanaged booking data or travel leakage. Traxo has solved that problem.”
Under the agreement, Grasp will use Traxo’s technology to manage its own in-house business travel. It also becomes a Traxo Marketplace partner, which means it can automatically receive structured travel data from Traxo’s corporate clients.
Read more: New COVID Cases Ground Air Travel
The partnership lands at a challenging time for corporate travel. As PYMNTS reported last month, a rise in new COVID-19 cases had businesses rethinking fall employee travel. Airlines and hotels that were counting on corporate trips as a reliable source of revenue saw their hopes dim.
“I’d say it’s a pause, as compared to continued growth. That said, we understand why it’s paused,” Delta Air Lines CEO Ed Bastian said at the time.
Two main gamers within the company journey knowledge business are becoming a member of forces. Grasp Applied sciences, which offers knowledge administration, consolidation, fee integration and knowledge visualization, has fashioned a partnership with Traxo, which gives company journey knowledge seize and pre-trip auditing.
“The partnership offers company journey managers worldwide with the flexibility to see essentially the most full knowledge image of their firms’ enterprise journey, together with all on- and off-platform bookings, inside Grasp’s strong knowledge and intelligence suite,” Grasp mentioned in a information launch emailed to PYMNTS on Monday (Oct. 4). “An business chief for greater than 25 years, Grasp serves greater than 150,000 company journey departments in over 70 nations by way of its footprint.”
With Traxo, Grasp says it may well — for the primary time in 20 years — give clients a easy strategy to view and incorporate so-called “invisible” bookings, a time period referring to the roughly 40% of enterprise journey bookings made outdoors of the company journey coverage.
“The company journey business wants a very full, correct and well timed knowledge answer for monitoring and consolidating all features of a journey program – a real end-to-end platform that delivers actionable, actual outcomes,” mentioned Grasp Applied sciences’ Chief Gross sales Officer Dave Lukas.
He added that regardless of Grasp’s finest efforts, “we have been lacking one piece – some of the, if not crucial one – unmanaged reserving knowledge or journey leakage. Traxo has solved that drawback.”
Underneath the settlement, Grasp will use Traxo’s expertise to handle its personal in-house enterprise journey. It additionally turns into a Traxo Market accomplice, which suggests it may well robotically obtain structured journey knowledge from Traxo’s company shoppers.
Learn extra: New COVID Circumstances Floor Air Journey
The partnership lands at a difficult time for company journey. As PYMNTS reported final month, an increase in new COVID-19 circumstances had companies rethinking fall worker journey. Airways and lodges that have been relying on company journeys as a dependable income noticed their hopes dim.
“I’d say it’s a pause, as in comparison with continued progress. That mentioned, we perceive why it’s paused,” Delta Air Strains CEO Ed Bastian mentioned on the time.