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TRX Unveils Plans for 6th Generation CORREX Reservation Processing Platform
New Interfaces Give Agencies and Corporations More Real-Time Data and Control
TRX, Inc. (NASDAQ: TRXI), a global technology company that develops and hosts software applications to process data records and automate manual processes, today unveiled its plans for the CORREX Gen6 initiative – a multi-phased evolution of the CORREX travel reservation processing platform that will incorporate agency and corporate interfaces and take advantage of Web 2.0 innovation.
CORREX is an industry-leading travel reservation processing platform that automates quality control, file finishing, ticketing, and other mid-office activities formerly handled manually by travel agents. The solution drives processing efficiency for travel management companies, corporate travel departments, and suppliers, providing them with significant reengineering savings and allowing them to reallocate agent time and attention to higher value activities.
TRX initiated the CORREX Gen6 project in 2006 through an intensive research effort involving clients and travel industry stakeholders. Earlier this year, TRX compiled a special advisory board, which includes five mega and regional travel management companies from the US and UK, three Fortune 100 corporations, and a major airline, to ensure ongoing feedback and guidance through every stage of the development process.
TRX plans to demonstrate the first phase of CORREX Gen6 at the National Business Travel Association (NBTA) convention and tradeshow this July in Boston, Massachusetts. TRX is targeting completion of the first release of CORREX Gen6 in Q42007.
“Over the last 20 years CORREX has played a major role in helping travel management companies transform their businesses,“ commented TRX President & CEO, Trip Davis. “The next generation CORREX will give greater control and visibility to our existing client base and extend the power of the CORREX platform to small and medium sized agencies and airlines.”
CORREX originally launched as a licensed seat finder application in 1988. The application evolved to a hosted reservation processing platform and service bureau that corrects and improves travel bookings, connects enterprise database applications, collects pre-trip data, and directs reservation information to multiple parties. The platform houses over 100,000 travel processing routines and provides users with complete flexibility over their business rules.
CORREX supports all 5 of the top 5 US agencies as well as leading non-US agencies. Through its distributor relationships, CORREX processes data daily on over 200,000 travel reservations for more than 20,000 corporations located throughout 45 countries.
The first phase of CORREX Gen6 will result in increased visibility and flexibility for clients, featuring a new, Web-based CORREX portal with various agency and corporate facing tools, including dashboards, service level metrics, operational benchmarks, agency and account information, current news, service request status reporting, and customized reports. The new release will also feature upgraded email and itinerary management tools and will enable users to make changes to the business rules governing their automated processing.
“We are excited to offer our clients choice in how they manage CORREX,” said Davis. “For some, the service bureau approach – more of an outsourced management of the application – is the way to go. For others, they want to have more immediate, hands-on control over their routines. Either way, we are significantly enhancing the capabilities and features of the product to make it more flexible and intuitive. We have seen the power of advanced data visualization with TRAVELTRAX. As we develop our new agency and corporate interfaces for CORREX, we are extending the same Web 2.0 presentation advancements.”
TRX will feature CORREX Gen6, along with TRX Travel Analytics, RESX, and TRAVELTRAX solutions, at the National Business Travel Association (NBTA) convention and tradeshow in Boston, Massachusetts in July.
About TRX
TRX (NASDAQ: TRXI) is a global technology company. We develop and host software applications that process data records and automate manual processes, enabling our clients to optimize performance and control costs. We are a leading provider to the travel industry and are expanding into financial services and healthcare. We deliver our technology applications in an on-demand environment to travel agencies, corporations, travel suppliers, government agencies, credit card associations, credit card issuing banks, and third-party administrators. TRX is headquartered in Atlanta with operations and associates in North America, Europe, and Asia.
Trevelino/Keller Communications Group for TRX, Atlanta
Kira Perdue, 404-214-0722, extension 101
kperdue@trevelinokeller.com
Source: Business Wire (July 10, 2007 - 8:43 AM EST)
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