SAN DIEGO/ DALLAS – Grasp Technologies announced its new partnership with Traxo, the global leader in 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. An industry leader for more than 25 years, Grasp serves more than 150,000 corporate travel departments in over 70 countries through its footprint.
Managing travel data has been a challenge for corporate travel departments in that it is disparate, disjointed, and fragmented across many different systems and platforms, and lacks timeliness. This complexity prevents companies from effectively providing duty of care for traveling employees, or proactively managing business travel expenses, which are traditionally the second largest controllable expense in a corporation. Compounding the issue further is that employees often book their travel outside the company’s mandated travel policy, travel agency, and/or booking tool, essentially making these travel plans invisible to the corporation.
In fact, according to travel bookings made by Grasp clients in 2017 through 2019, an average of 40 percent of all business travel bookings were made outside the corporate travel policy. The total amount of 'leakage' or invisible bookings by segment were, Railway: 64 percent, Hotels: 57 percent, Car Rental: 34 percent, Airlines: 5 percent.
As a result of this new partnership with Traxo, for the first time in two decades, Grasp can now offer its users a simple way to finally view and incorporate these previously invisible bookings into their data platform.
“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. “At Grasp, we have worked tirelessly on this problem for over 20 years and have created the technology, data consolidation, and data management processes to ensure the most accurate and timely data for our clients, but we were missing one piece – one of the most, if not the most important one – un-managed booking data or travel leakage. Traxo has solved that problem.”
“With our unique ability to capture all travel bookings, regardless of whether they were booked directly with a travel supplier or within the company-mandated travel program or not, Grasp’s clients now can not only track their off-channel bookings, but be able to take action on these bookings, pre-trip,” said Traxo Founder and Chief Executive Officer Andres Fabris. “This gives them the opportunity to ensure they’re receiving their corporate negotiated discounts, re-shop the flight, hotel, rental car, or rail booking to obtain the best available prices, or provide coverage for duty-of-care purposes.”
“By combining the power of our two solutions, we have solved one of the greatest data challenges in our industry and have created a solution that allows clients to go further in managing their travel program like never before,” Lukas noted.
As part of the agreement, Grasp is using the Traxo technology internally to help better manage its own business travel, and Grasp is now a Traxo Marketplace partner, so it can automatically receive structured travel data from Traxo’s corporate clients.