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From the Wires
Orbitz Worldwide Signs Global CORREX Agreement With TRX
Expands Orbitz for Business Relationship and Extends TRX's Category Leadership in Reservation Processing
By: PR Newswire
Nov. 20, 2007 02:01 PM
ATLANTA, Nov. 20 /PRNewswire-FirstCall/ -- TRX, Inc. , a global technology company that develops and hosts software applications to process data records and automate manual processes, today announced that Orbitz Worldwide signed a global CORREX agreement to manage the full volume of Orbitz for Business' reservation processing. "Our agreement with Orbitz for Business expands our existing relationship and further establishes CORREX's category leadership as a reservation processing platform," said Trip Davis, president and CEO, TRX. "We signed a contract earlier this year with Orbitz for Business to utilize our TRAVELTRAX solution for data consolidation and reporting, and this is a natural progression to help support their travel management services." The agreement with Orbitz for Business replaces a competitive mid-office application with CORREX's enhanced technology and provides Orbitz for Business with the ability to globalize transaction processing and ensure global data integrity for reporting and analysis. "By implementing CORREX, we're able to consolidate separate quality control and automated ticketing activities being processed on multiple platforms to a single platform, providing us the ability to improve our global efficiency," said Dean Sivley, COO and general manager, Orbitz for Business. TRX recently announced its 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. The first feature release from the Gen6 initiative will be a new email and communication module. 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. Cautionary Note Regarding Forward-Looking Statements Certain statements in this press release may constitute "forward-looking" statements as defined in Section 27A of the Securities Act of 1933 (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), the Private Securities Litigation Reform Act of 1995 (the "PSLRA"), or in releases made by the Securities and Exchange Commission, all as may be amended from time to time. Statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of the PSLRA. Any such forward-looking statements reflect our beliefs and assumptions and are based on information currently available to us and are subject to risks and uncertainties that could cause actual results to differ materially, including but not limited to, the loss of key clients, volatility in the number of transactions we service, failure or interruptions of our software, hardware and other systems, industry declines, competitive pressures and other risks, including those discussed under the heading "Risk Factors" in our Annual Report on From 10-K for the year ended December 31, 2006. Forward-looking statements are predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. These cautionary statements are being made pursuant to the Securities Act, the Exchange Act and the PSLRA with the intention of obtaining the benefits of the "safe harbor" provisions of such laws. TRX cautions investors that any forward-looking statements we make are not guarantees or indicative of future performance. About TRX TRX 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. TRX, Inc.
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