American Express Business Travel has launched “Intelligent Online Marketplace” for travel and related business services.

American Express Business Travel has launched “Intelligent Online Marketplace” for travel and related business services.

Published: 14 Nov 2006

American Express Business Travel has launched “Intelligent Online Marketplace” for travel and related business services.

Powered by San Mateo, Calif.-based Rearden Commerce, Inc., the new web-based marketplace for services brings together inventory from more than 135,000 suppliers to provide a one-stop-shop where employees can find, purchase and manage both traditional travel (flights, hotel stays and car rentals) and a growing list of other services, such as airport parking, dining, ground transportation, event tickets, package shipping and audio/web conferencing.

American Express has formed a product council with Rearden that will focus on future development needs. In addition, American Express has taken a minority equity stake in Rearden and will name an executive to join Rearden’s board.

Priyan Fernando, executive vice president and chief operating officer, American Express Business Travel said the new initiative will leverage company’s combined and distinct capabilities to help companies achieve a higher degree of visibility and control over all aspects of their travel and related expense.

“Rearden’s online personal assistant will simplify schedule management and provide the peace of mind employees need to remain productive while on the road,” said Fernando.

Benefits of the American Express Intelligent Online Marketplace

For businesses:

According to industry and government estimates, U.S. corporations spend more than $470 billion on travel, entertainment and other employee business services annually. More than $190 billion, or 40 percent of these services, are purchased outside preferred vendor contracts, resulting in significant missed savings opportunities. The new American Express Intelligent Online Marketplace helps companies gain visibility and control over unmanaged expenses which, according to American Express, can account for nearly half (49 percent) of all travel and entertainment costs.

For travelers:

The marketplace provides a convenient, one-stop online destination where travelers can find, purchase and manage approved corporate travel and related business services. Acting as an online personal assistant, the marketplace recognises the traveler’s identity (booking profile), context (itinerary details), and presence (physical location). This enables a personalised trip-planning experience, where the booking application automatically recommends user-relevant goods and services for purchase.

For suppliers:

Business services suppliers will have access to a unique online marketplace where they can directly offer their services to clients of American Express Business Travel.

Suppliers will also have opportunities to make specific and relevant offers to corporations and their employees based on traveler location, preference and context, as well as the company’s vendor policies.

Related Reads

comments powered by Disqus