PITTSBURGH, September 8, 2021 – PAAS, the global leader in technology spend analytics, will partner with TravelBrands to manage the Toronto-based company’s technology spend and provide negotiation expertise. TravelBrands is Canada’s largest multi-channel distribution network and a division of H.I.S.-Red Label Vacations Inc., a leading Canadian travel group.
TravelBrands connects millions of Canadian travelers to a breadth of product offerings and services through brands such as Sunquest, redtag.ca, Cruises.ca, Merit, and others. To achieve cost-savings initiatives amidst the Covid-19 pandemic, TravelBrands will target technology, which is the largest and fastest-growing indirect spend. PAAS will leverage their team’s procurement expertise, a robust supplier network, and relevant data in PAAS360, their proprietary spend analytics platform, to manage TravelBrand’s ongoing technology agreement negotiations and overall technology spend.
“Like many other industries this past year, we faced cost-savings initiatives and lacked data expertise to help manage our technology spend amidst the pandemic. We were thrilled to see the immediate savings opportunities PAAS360 identified for us,” said Jon Puntillo, Chief Information Officer at TravelBrands. “Furthermore, we are excited to take advantage of the PAAS team’s unmatched negotiation power and procurement expertise in future negotiations. We look forward to benefiting from a solution like PAAS as we continue to develop innovative solutions that deliver the best prices, selection, and convenience to agents and travelers.”
TravelBrands will utilize the PAAS360 platform to extract actionable technology procurement insights using unprecedented spend intelligence, including more than 32.5 million relevant data points and extensive intelligence from thousands of suppliers. The centralized AI and machine learning SaaS platform is comprised of five modules: Contract Management, Spend Analysis, Forecasting, Benchmarking, and Project Management. Used in tandem to categorize, organize, and compare data with real-world pricing and terms, Travel Brands will discover continuous opportunities for technology spend savings.
“It’s very exciting to continue to grow and leverage our platform, people, and network on a global basis,” said Justin Jones, Vice President of Sales at PAAS. “In our partnership with TravelBrands, we will generate sustainable value by illuminating continuous savings possibilities in their overall technology spend.”
PAAS will partner with TravelBrands on an ongoing basis as a technology procurement resource to review current and future agreements, as well as extract insights from the PAAS360 platform to devise effective negotiation strategy recommendations.
About TravelBrands Inc.
A division of H.I.S.-Red Label Vacations Inc., TravelBrands gives agents and consumers access to the world. It is one of the largest travel companies in Canada, active in both the wholesale and retail travel industry. TravelBrands offers a wide range of travel options – including flights, hotels, cruises, attractions, rail passes, car rentals and more.
PAAS is the global leader in technology spend analytics, creating platform and service solutions that equip organizations of all sizes with methods for aggregating, categorizing, and analyzing data, and strategies to help them achieve optimal savings on overall technology spend. Their team of negotiation experts combine relevant data from PAAS360, their proprietary spend analytics platform, with executive-level technology supplier relationships to accelerate the procurement lifecycle, mitigate risks, improve operational efficiencies, and deliver optimal pricing and terms for clients. The differentiated data-driven insights generated by PAAS360 help organizations of all sizes and verticals reduce their technology costs by 15-30%. PAAS has negotiated more than $25 billion in technology agreements, accelerating companies’ digital transformation with PAAS while benefiting from a guaranteed 5x in savings.