As a global information and technology company, Bloomberg delivers business and financial information, news and insights to customers around the world. With 19,000 employees in 176 locations, Bloomberg invests in a substantial global travel program.
Recently, Bloomberg’s Global Travel Manager, Rafael Rosario, and James Filsinger, Yapta’s President and CEO, sat down for an interview with Martin Cowen, Editorial Director for tnooz. Broadcast live from the exhibition floor at the GBTA Convention 2018, Mr. Rosario shared his insights about using Yapta’s technology to enhance his travel program and achieve savings for Bloomberg’s business units.
Yapta provides price assurance to corporate customers by dynamically monitoring prices for airfare and hotel bookings, sending instant savings alerts when prices drop. Bloomberg’s airline and hotel reservations are re-ticketed or rebooked, while maintaining identical flights and comparable rooms at the same properties.
Bloomberg had used price assurance products in the past, but after networking and benchmarking with other travel industry professionals who were using Yapta, Mr. Rosario learned that the savings opportunities were amazing.
When asked about how he presented the value of integrating Yapta to his senior management, he noted, “First, it gives you the awareness that there is a price drop from an airline and hotel perspective, and the responsiveness that you’re getting with those alerts.” He continued, “The ability for us to take the savings and reinvest to give more value to employees – this was the key element for me to sell it back to senior management.”
Also important to Mr. Rosario is that employees aren’t changing their travel. They’re on the same flight with the same class of service, staying at the same hotel with the same type of amenities. Yapta allows Bloomberg to transfer those savings into value. Mr. Rosario shared, “They can travel more, and we invest savings into other products to enhance our program for our people.”
What is it about Yapta that sets it apart from the competition? Mr. Rosario noted that Yapta’s ability to combine both air and hotel in one product is a huge benefit. “Yapta’s tools are seamless, the dashboard is completely intuitive, very easy to manage and understand.”
When asked, in addition to the savings generated for Bloomberg, what else has he learned as a result of having access to price assurance data, Mr. Rosario replied, “The wow factor of knowing that there is value out there out in the marketplace – we’re bringing this value back to our business units, saying this is the amount of money we’re saving you and it allows them to travel more – not travel less.” He also noted that Yapta’s account management is very supportive and responsive.
Bloomberg currently uses Yapta for four countries (U.S., UK, Brazil, and Dubai) and the roadmap is to expand to all Asia-Pacific points of sale.