TRX Awarded Patent for Data Technology Tool Used by Corporate Buyers to Analyze Airline Bids
Wednesday July 23, 11:40 am ET
Analytical Modeling Offered with TRX Travel Analytics Engagements
ATLANTA, July 23 /PRNewswire-FirstCall/ -- TRX, Inc. (Nasdaq: TRXI - News), a global technology company that develops and hosts software applications to process data records and automate manual processes, announced today it has been issued a U.S. patent for a tool used in analyzing corporate airline bids. The patent covers elements essential to the advanced analytical modeling used on bids made by airlines to corporate accounts.
"This patent is an excellent example of the value of TRX innovation and the Travel Analytics acquisition. It validates our domain expertise in travel data technology, transforming data into insights," said TRX President & CEO, Trip Davis. "We are applying the technology and enabling corporate buyers to leverage better insights when negotiating with travel suppliers and managing their travel programs."
TRX uses the patented tool in nearly all of the TRX Travel Analytics engagements. The methods covered by the patent give TRX's corporate clients analytical models based on their own travel data. The clients then use the analytics to negotiate their agreements with travel suppliers. The methods have been extended into the TRAVELTRAX data reporting dashboard technology, benefiting corporate clients using TRAVELTRAX for corporate travel data reporting.
TRX was awarded U.S. Patent 7,401,029 on July 15, 2008.
surf's up......crikey
