Travelport, a travel technology company, has partnered with IBM to introduce an industry-first AI platform designed to help businesses manage corporate travel spend.
The IBM Travel Manager, delivered via the IBM Cloud, will consolidate on one platform features such as intelligent tracking, managing, predicting and analysis of travel costs. The platform will use advanced artificial intelligence, provide cognitive computing, predictive data analysis using "what-if" type scenarios, and integrated travel and expense data.
Pulling travel data from the Travelport global distribution system (GDS) and across various information sources, the platform will be able to create real-time predictive analytics that will be able to recommend how adjustments in travel booking behaviour patterns can positively impact a company's travel budget.
"IBM Travel Manager, with Travelport's data, is unlike any traditional travel spend reporting solution currently available today from travel management companies, suppliers, corporate booking tools or other third parties," said Fiona Shanley, Travelport's chief customer and marketing officer.
"While other solutions only provide a fragmented historical picture, IBM Travel Manager combines and normalises data from all key sources, allowing for more robust insights and benchmarking than other reporting solutions."
"IBM and Travelport are using the power of AI to unlock previously unavailable insights from multiple internal and external data sources. Travel managers can use this information to proactively drive improved supplier negotiations via real time and holistic data, enable budget holders to understand and change spending patterns, and improve travel policy compliance monitoring," said Elizabeth Pollock, IBM industry client leader for travel and transportation.
The platform will offer a dashboard that offers an end-to-end view of travel spending, the ability to create alerts and notifications, predictive and pre-defined spending trend analysis, and natural language understanding to analyse text and uncover insights from structured and unstructured data.
The product is expected to be commercially available to customers, through both IBM and Travelport.