Bloomington, IN – January 31, 2007: In the busy and multifaceted travel industry, travel professionals need answers, not more complexity. Cornerstone Information Systems has responded to this need by launching iBank Analytics www.ibankanalytics.com, an easy-to-use tool that transforms data into insight by combining the power of iBank Travel Data Warehouse with an intuitive analytics engine.
iBank Analytics is the start of the evolution of the travel industry. It has been reported that there is currently a “lack of real data on the size, influence and power of the corporate travel and meetings segments.” Because the data is so fragmented, it hasn’t been able to be accurately tracked—until now. By being able to see the whole picture in one place, as well as drill down to the smallest detail, spend can now be tracked—and understood—more efficiently than ever before. The evolution will take place one client at a time.
Notable features of iBank Analytics include:
- No more complexity—it has a ‘point and click’ technology that allows the user to quickly and easily see the information to get immediate answers, no reporting and paperwork necessary
- Drill down capability—can zoom in from the highest level of spend for the entire program or company down to a specific traveler, all in ‘right-time’ so that you can see when, where and why the lost savings are occurring
- Benchmarking—users have the luxury of using their key performance indicators in a proactive way, so that they can increase productivity and maximize the effectiveness of the travel program within an agency
- No consulting—the technology can be used on its own, as the idea is to allow someone with even the most basic knowledge of travel to make some powerful decisions
- Visualization—decision making is much simpler when you have the answers right in front of you in one place, with graphics and as much detail as you want
- Highly deployable, easily implementable and in demand
“Travel managers need the ability to make smart decisions at the first sign of a downturn in performance—not after the damage has already been done,” said Mat Orrego, President of Cornerstone. “iBank Analytics gives travel managers the power to oversee multiple tasks simultaneously, from ensuring exceptional client service to managing and enforcing corporate policy, tracking supplier spending and complying with governmental regulations.”
One customer says that they used to spend the first two weeks in January running reports and compiling information for the year-end review for their top 20 customers, and the tedious process also involved three people. With iBank Analytics, they won’t have to do that at all, as it will take only half of a day to get through the entire process—they can just dial it up and actively show it to their customer, which is time saving for everyone.
Others have reported that iBank Analytics is a chargeable, added service that causes their customers to say that they never want to go anywhere else.
“In today’s ever-changing travel industry, it is essential for travel management companies to have the necessary resources to effectively manage a travel program for the customers that we service,” explains Rock Blanco, CTO of Atlas Travel International in Milford, Massachusetts. “If we can’t measure it, we can’t manage it. Once again, it is Cornerstone that delivers the results with iBank Analytics. There is no other program available today that takes a process typically reserved for financial wizards and makes it as easy as “point and click”. The future of travel management reporting and analysis has been redefined and Cornerstone has provided us with the solution.”
“With just a few clicks, the new iBank Analytics tool provides comprehensive data and meaningful measurements for the air, car and hotel components of business travel. The speed is amazing, and the analytical possibilities are seemingly endless,” added Rebecca Martin, president of A&I Travel in Memphis, Tennessee. “Over the years we’ve seen huge leaps in reporting abilities, from the 90’s with stacks of paper to Cornerstone launching its first Web-based reporting tool and now to a whole new level with iBank Analytics. The scope of the information and the ability to see all of it in graphical and alphanumeric form has our clients’ clamoring for it.”
Interviews as well as demos of iBank Analytics are available.
Cornerstone Information Systems is a professional services company helping travel management companies, corporate travel departments, airline and global distribution systems work more efficiently and more profitably. Founded in 1992, Cornerstone Information Systems is a privately held company based in Bloomington, Indiana with personnel in eight locations worldwide. Further information about the company is available at www.ciswired.com or by calling Alan Minton at (812) 269-0014.