Since the inception of the Information Age, things have changed considerably, paving the way for many industries to keep up with Technology and opt for automation. The tasks that were once done manually are now automated; empowering users with the convenience of a simple click making jobs easier today. With the help of intelligent and sophisticated Technology, not only have we managed to streamline our business processes but also seamlessly collaborate and distribute information in real time with all business stakeholders.
The World Travel & Tourism Council’s (WTTC’s) annual economic research found that 2013 was a successful year for the Travel & Tourism sector off the back of an improving economy. In the year of significant exchange rate changes, international tourism spending in 2013 was 14% higher than the previous peak levels in real terms, while domestic spending was 6% higher than its previous peak. The year 2014 is forecasted to be a more promising year for the Travel & Tourism sector as the growth picks up across the global economy, led by increase in employment and stronger consumer spending. The sector’s contribution to GDP is expected to grow by 4.3% this year, up from 3% in 2013, and international growth is once again forecasted to beat domestic growth. This primarily reflects the economic activity generated by industries such as Hotels, Travel Agents, Airlines and other passenger transportation services (excluding commuter services) it also includes, for example, the activities of the Restaurant and Leisure Industries that are directly supported by tourists.
In the Travel and Tourism Industry, Technology has gone miles to enable Travel Businesses across the world to overcome boundaries and barriers. The penetration of sophisticated Travel Software has been largely instrumental for the entire Travel Ecosystem to collaborate and work together efficiently, to craft a wholesome experience for your end customers (travelers).
GLOBALIZATION - Bringing the world closer together
Online Travel Businesses today have no limitations due to distance. This means that not only can they collect or share content with distributors or suppliers based in any corner of the world easily, but also close in on overcoming obstacles owing to lingual, cultural and geographical boundaries. This empowers Travel Agencies and Businesses to acquire & manage inventory from various suppliers around the globe and offer that inventory at a better price.
COMMUNICATION - Any time – any place
Technology enables Travel Businesses to simultaneously communicate with all external and internal public regardless of their location and time zone. This has helped information to be processed and transferred faster across the web of their network and connections round the clock. All this data is accessible at any time, at any given place allowing Travel Businesses the flexibility and efficiency to conduct business with ease.
SATISFACTION - Customer is king
The Tourism Industry today, relies primarily on Technology to conduct business, streamline processes and increase profitability. It empowers Travel Businesses to successfully promote and sell services and products to fulfill the demands, needs and desires of end consumers (travelers).
So, let’s have a quick glance at some of the advantages of Travel and Tourism Software…
- Technology or Software offers the possibility of expansion, collaboration and flexibility for Travel Businesses.
- Business in the Travel and Tourism market is characterized by the implementation of various types of online booking software into existing business systems of Travel Agencies, Hotel Chains, Airlines, Car Rental Companies and other products in Tourism.
- Operation and distribution costs are decreased.
- Technology allows high-quality and effective market research.
- Travel Technology and Online Travel Software has proven to be a profitable medium of promoting Tourism and sales.
- Visualization of Tourism services and products through Multimedia Technology leaves a lasting impression on potential customers.
- Increased efficiency of Travel Agencies and Tour Operators by speeding up communication.
However, Technology in the Travel Industry has both, opportunities and challenges; hence you must be extremely careful while taking a decision. Technology is not always reliable and if your Technology misfires most of the time it is extremely difficult to backpedal or dodge the situation without incurring a heavy loss both in terms of finances and company reputation. This invariably leaves Consumers and Business Owners feeling frustrated when Technology fails to deliver.
To avoid such situations for your company you must take a few basic precautions, such as:
Payment security checks: The online Travel Management Software you choose must comply with global payment security standards and global guidelines such as the Payment Application Data Security Standard (PA-DSS) created by monitoring bodies such as Payment Card Industry Security Standards Council (PCI-SSC). This lack of compliance often leaves sensitive customer information such as passwords, CVV numbers and PIN vulnerable to misuse, and poses a great threat to the credibility of Travel Businesses.
Approach towards the way of conducting business: Fundamentally software replaces human interaction and creates a lack of personal touch. Travel Businesses by deploying Travel Technology, often tend to forget the fact that they belong to the service industry and are not just selling commodities. Travel is all about creating new experiences & fulfillment, and thus demands a personal touch that makes travelers feel safe and relaxed while conducting business with Travel Agencies and other such Travel Businesses.
Unplanned investments: Although most companies today understand the need for Technology, they don’t plan for it well. Before, taking a decision it is important for companies to understand and identify the pain areas they are trying to address by incorporating Technology. It is also important to seek advisory to understand the various options available in the market and how to find the right Technology Partner in-order to make sure their investment in Technology doesn’t backfire. Incorporating Technology without a plan is like shooting in the dark.
Delivery: Delivery is a very common challenge faced by the Travel Industry; big promises are made every day, but not produced in time. This risk can be minimized by:
- Having a clear understanding of why and what you need for your Travel Business
- Planning for Technology well in advance
- Seeking specialized Travel Technology advisory and finally,
- Selecting the right Technology Partner carefully after a thorough background check
N.B: This post has been written by Mehdi Nahvi. Mehdi serves as Head Marketing at tavisca. You can directly reach Mehdi at – email@example.com.
For tavisca product demos and queries contact – firstname.lastname@example.org