Business Daily from THE HINDU group of publications
Friday, Feb 16, 2007
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Business Daily from THE HINDU group of publications Friday, Feb 16, 2007 ePaper |
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Marketing
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New Products & Services Logistics - Software Abacus International unveils new air fare pricing software Our Bureau
Company hopes the product will increase its market share to 25% by year-end
Abacus says the new system, called Abacus SmartPrice, will offer more fare options per travel agent query and increase the efficiency of each transaction by over 50 per cent. "Abacus SmartPrice will allow our network of more than 15,000 travel agencies to search for the best fares with far greater reach and accuracy than existing solutions, accessing up to 650 qualifying fares from up to 32 airline carriers from a single simple enquiry," Abacus International Director, Fares and Pricing, Mr Albert Hong, said in a statement. Abacus and its technology partner Sabre Inc have invested over $100 million in developing SmartPrice, a process that took over three years to complete. Mr Viveck Verma, Managing Director of Abacus Distribution Systems (India) Pvt Ltd, said that given the healthy state of the Asian travel industry, he expects Abacus to recoup its investment in a couple of years. The key to SmartPrice is its ability to anticipate the second and third question posed by the customer, thereby reducing the number of steps required to book a ticket. If a customer's specific search criterion produces no result, the programme will automatically generate a list of alternative tickets without requiring a fresh set of criteria. Abacus also claims to provide the "true" lowest applicable available fare from a list of public and private fares by updating the information stored in the system six times a day. Mr Verma said Abacus expects SmartPrice to aid it in upping its share of the Indian travel market from 20 per cent to 25 per cent by end-2007. Abacus currently has a network of 2,000 travel agencies in India. Mr Verma also said Abacus is looking beyond `A' and `B' cities and will provide the software solution to any agency that wants it, anywhere in India.
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