TRX Leads Industry in Travel Cost Savings with Hotel Name Normalization
Poster: SySAdmin
Posted on May 14, 2012 at 1:14:01 PM
TRX Leads Industry in Travel Cost Savings with Hotel Name Normalization
HNN 2.0 Matches More Hotel Properties and Provides Faster Results
ATLANTA, May 14, 2012 /PRNewswire/ -- TRX, Inc. (http://www.trx.com) (OTCQB: TRXI), a global leader in travel data and technology, today announced the release of HNN 2.0, the latest version of TRX's Hotel Name Normalization (HNN) solution software for TRAVELTRAX®, TRX's business intelligence solution.
(Logo: http://photos.prnewswire.com/prnh/20120514/CL06536LOGO )
HNN 2.0 improves hotel property normalization by 90 percent on previously missed matches by using the latest advances in machine learning and natural language processing through a more sophisticated mathematical algorithm. With improved logic and reliability, Version 2.0 provides travel managers faster results with an even better representation of overall and detailed hotel activity and spend, including supplier spend and corporate rate integrity.
HNN was introduced in 2011 to help companies identify actual spend at a particular hotel property. One hotel property can be identified numerous ways depending upon the source of the data. A charge on a credit card statement may list the hotel as "The Marriott Downtown," while a TMC back office feed identifies the same hotel as "The Downtown Marriott." This mis-matching of data leads to inconsistent data reporting and an under estimation of dollars spent at any given hotel property.
HNN takes all representations of the same property and aggregates them into a single record, thus providing an accurate spend picture at the property. The solution identifies unique features of individual hotel properties, including phone, address, chain name and more, to normalize the data.
TRAVELTRAX® is the leader in travel and expense data consolidation, enhancement, and reporting and has nearly 300,000 hotel properties in its HNN smart database, a number that grows by several hundred each week.
"HNN 2.0 is designed for TRAVELTRAX® clients who want to gain more precise and more detailed spend metrics for the hotel category," said Kevin Austin, executive vice president of TRAVELTRAX®. "It simplifies the hotel sourcing, spend and bid process for our clients. With clean hotel data, clients can see where and how they are spending money with various hotel properties. We have worked since last fall's sourcing season to enhance our already robust HNN offering, and we are pleased to roll it out to the industry in plenty of time to leverage it for the upcoming bid cycle."
ABOUT TRX, Inc.
TRX, Inc. (OTCQB: TRXI) is a global leader in travel data, software and solutions. With more than 20 software-as-a-service utilities, TRX helps top travel agencies, corporations, government agencies and other institutions maximize savings and efficiency through travel technology applications. From data intelligence and process automation to expense management and consulting services, TRX software makes travel transaction processing, travel management and data management simple and effective. For more information on TRX, visit http://www.trx.com or call 404.929.6100.
SOURCE TRX, Inc.
Photo:http://photos.prnewswire.com/prnh/20120514/CL06536LOGO
http://photoarchive.ap.org/
TRX, Inc.
CONTACT: Alicia Burroughs, Corporate Communications & PR Manager, TRX, Inc., +1-404-417-7480, Alicia.burroughs@trx.com
Web Site: http://www.trx.com
HNN 2.0 Matches More Hotel Properties and Provides Faster Results
ATLANTA, May 14, 2012 /PRNewswire/ -- TRX, Inc. (http://www.trx.com) (OTCQB: TRXI), a global leader in travel data and technology, today announced the release of HNN 2.0, the latest version of TRX's Hotel Name Normalization (HNN) solution software for TRAVELTRAX®, TRX's business intelligence solution.
(Logo: http://photos.prnewswire.com/prnh/20120514/CL06536LOGO )
HNN 2.0 improves hotel property normalization by 90 percent on previously missed matches by using the latest advances in machine learning and natural language processing through a more sophisticated mathematical algorithm. With improved logic and reliability, Version 2.0 provides travel managers faster results with an even better representation of overall and detailed hotel activity and spend, including supplier spend and corporate rate integrity.
HNN was introduced in 2011 to help companies identify actual spend at a particular hotel property. One hotel property can be identified numerous ways depending upon the source of the data. A charge on a credit card statement may list the hotel as "The Marriott Downtown," while a TMC back office feed identifies the same hotel as "The Downtown Marriott." This mis-matching of data leads to inconsistent data reporting and an under estimation of dollars spent at any given hotel property.
HNN takes all representations of the same property and aggregates them into a single record, thus providing an accurate spend picture at the property. The solution identifies unique features of individual hotel properties, including phone, address, chain name and more, to normalize the data.
TRAVELTRAX® is the leader in travel and expense data consolidation, enhancement, and reporting and has nearly 300,000 hotel properties in its HNN smart database, a number that grows by several hundred each week.
"HNN 2.0 is designed for TRAVELTRAX® clients who want to gain more precise and more detailed spend metrics for the hotel category," said Kevin Austin, executive vice president of TRAVELTRAX®. "It simplifies the hotel sourcing, spend and bid process for our clients. With clean hotel data, clients can see where and how they are spending money with various hotel properties. We have worked since last fall's sourcing season to enhance our already robust HNN offering, and we are pleased to roll it out to the industry in plenty of time to leverage it for the upcoming bid cycle."
ABOUT TRX, Inc.
TRX, Inc. (OTCQB: TRXI) is a global leader in travel data, software and solutions. With more than 20 software-as-a-service utilities, TRX helps top travel agencies, corporations, government agencies and other institutions maximize savings and efficiency through travel technology applications. From data intelligence and process automation to expense management and consulting services, TRX software makes travel transaction processing, travel management and data management simple and effective. For more information on TRX, visit http://www.trx.com or call 404.929.6100.
SOURCE TRX, Inc.
Photo:http://photos.prnewswire.com/prnh/20120514/CL06536LOGO
http://photoarchive.ap.org/
TRX, Inc.
CONTACT: Alicia Burroughs, Corporate Communications & PR Manager, TRX, Inc., +1-404-417-7480, Alicia.burroughs@trx.com
Web Site: http://www.trx.com