Impact of a Corporate Booking Tool on the travel agency business

Travel agents today are in a dilemma as online booking tools have cropped up everywhere. As they offer regular travellers the opportunity to search from a range of potential suppliers in order to find the best offer possible. This leads to many companies exploring niche markets in an effort to create new business opportunities, with a particular focus being placed on the corporate market.

The new corporate travel agent places focus on the level of service that they can provide, ensuring that they make use of a modern corporate booking tool (CBT) in order to help business clients with the various issues that surround their journey. There are a number of ways that this has had an effect on the travel agency that business.

Cost

The cost of booking travel has changed substantially, with prices increasing in agencies where corporate booking solutions (CBT) have been adopted. This change is attributed to corporate travel agents as they tend to charge per Passenger Name Record (PNR), rather than via each ticket that has been issued.

While this may seem like a fairly minor difference at first, it is important to note that a PNR not only contains information about the passenger’s ticket, but also information relating to their itinerary and the various fees related to the traveller’s trip. All of this information must be stored on a database that needs to be maintained, which also adds to the cost of incorporating a CBT into the existing travel agency model.

Unlike others, this model also allows for a much more personalised service to be offered in relation to business travel, as the company can now pull records related to the traveller, making changes where needed while also gaining an instant understanding of their itinerary and what needs to be done in order to ensure all of their requirements are met.

The corporate travel using CBT offers a level of convenience and service that is hard to find through a regular travel agent and almost impossible to find with an online booking service. Initially it appears a little restrictive, the introduction of CBTs has opened up an entire niche in the travel industry, with corporate travel now becoming a major concern for travel agencies that wish to stay ahead of the pack.

Branding and Reach

Travog, is one such Corporate Booking Tool that QuadLabs offers is available as a package that can be branded to the specific business travel agency that is using them, which offers corporate travel agency a level of reach that they may not have been able to achieve using their more traditional methods.

Solutions like Travog provide a range of services to travel agencies. They offer access to hotels and other organisations that are part of the corporate travel package. It also allows for the travel agency to brand itself around the model. Travog, the platform provided by QuadLabs is particularly useful for corporate travel agents who don’t maintain a dedicated web presence, as it offers them many of the advantages of a corporate website, with much less of the work.

CBTs like QuadLabs Travog are increasingly common in the corporate travel environment means that a level of trust can be created between the travel agency and the traveller simply due to the fact that the agency makes use of a trustworthy CBT. The traveller is assured that their arrangements will be made using a renowned package, with the agency being able to focus on the personal relationships they build with their business clients as a result. This allows for the maintenance of existing clients, in addition to the branding and reach offered by such packages ensuring that new clients are rarely far behind.

Working a Niche

To adopt a CBT a travel agency will often need to focus completely towards a corporate clientele. The cost of using the CBT, many of which run on a subscription model based around the number of users and amount of services provided by the package, require its use. Some companies feel the pinch to advertise solely towards corporate travel, placing less of a focus on regular travel.

This is not necessarily a bad thing, as the world of online booking has already eaten away at much of the business that traditional travel agencies have enjoyed for so many years. Talking about Business travel, it is much more based around the service provided, rather than how cheaply you can get the flights and accommodation. Countless travel agencies have now repurposed/specialized themselves so that they become dedicated to offering services to corporate customers, while perhaps placing less focus on traditional travel packages.

The Final Word

So how have corporate booking solutions impacted the traditional Travel agency? Some travel agencies are uncomfortable paying an added cost, particularly if they do not want to focus their services around business travel, they have also opened up a niche in the industry. Software solutions like Travog, make it easier for agents to satisfy the travellers that fit into that niche, offering them a complete package that allows the agent to fully satisfy the requirements of the traveller, without the agent having to develop the package for themselves.

Technological solutions like Travog, have helped bring many travel agencies into the digital age without requiring them to compete directly, or become a part of, many of the online booking tools that exist solely to compare prices and find the cheapest travel. Many companies which focus on corporate travel, take advantage of this new niche thanks to the increased capabilities offered to them by the CBT. They allow for increased reach and positive branding, at a cost that may be lower over a large period of time than incorporating a home-grown system. It must be noted, they also require a level of dedication to the service that some traditional travel agents may still be uncomfortable providing.

QuadLabs travel technology system help these travel agents and tour operators to organize and keep track of their bookings, business processes and front and back office data in a systematic manner, thus providing utmost satisfaction to the traveler regardless of the type of the travel. They are highly specialized and reliable travel technology provider who plays a very important role in maintaining a healthy relationship between the travel company and the customer for years.

What happens when travel meets technology?

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Technology has had a great impact on our everyday life, which is continually evolving at a rapid speed. However, when it comes to travel, it has offered a broader assistance to travelers, which is certainly beyond description. In earlier times, people used to travel with no technological support, which lead them to many troubles that includes extra expenses. But, since the technology has taken over our era for the good with travel technology companies, such as QuadLabs, giving their remarkable assistance to many travel agencies, travelling has now much easier and hassle free than ever before, making the people explore numerous exotic places frequently without any more worries. Let’s talk about some facts on what happens when travel meets technology.
1. Technology allows people to be connected with loved ones: One of the most important benefit one can enjoy when travel meets technology is being thoroughly connected with family and friends regardless of the place you visit. It is quite hard to leave them when you go for a vacation. Technology helps you share your experiences with them through many mediums such as social media networks where you could send your pictures and videos and let them know that you are doing fine.
2. Get luxurious and quality accommodation and flights at a very low price: With technology, people can easily search for their preferred hotels, flights, holiday plans and other travel products at a very low price due to heavy discounts and promotions. Every traveler who has been a member of any online travel agency gets personal promotion codes and exclusive offers, which they can use to get the best deal possible for their vacation.
3. Change your holiday plans in real time: While travelling, many a times people revert their original plans due to less time, higher rates and other inconveniences. Travel technology help travelers to reschedule their holiday plans as per their preferences in real time. This allows the person to cancel their hotel bookings at zero or minimal cancellation charges, get travelling means within a short period of time or choose destinations to visit which are important while omitting the ones with less priorities.
4. Search for the best places and interact with local peopleAnother benefit travelers get from technology while travelling is they won’t get any difficulty in exploring the local areas and interacting with local people as they can get all the necessary details such as ‘top places to visit’ and local language easily.
There are many travel agencies out there offering all the latest assistance to people who wish to visit different places, both domestic and international, for various reasons such as business travel, family vacation or romantic getaways. And quality travel management company like QuadLabs, which is a world leader in offering travel technology solutions, helps these agencies to provide every possible assistance to travelers who are out of their town and far away from their families and friends, yet still finding it no difficulties at all, whether it is personal, emotional or financial. And the fact that most of these agencies use online travel technology makes it simpler for travelers as they can get these helps using only their laptops or mobile devices.

Latest Trends In Travel Industry

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Travel industry is a dynamic industry that keeps changing every year. Tour operators and travel agencies constantly spot new and latest trends in the travel in order to increase their chances of sales. The fact about travel trends in one successful year might not be the same for the next one and thus, travel agencies adapt the environment and trends adequately in order to stay in the competition. 2016 was a good year for the travel industry.It was adventurous, productive and even though with too many challenges, it did grow smoothly.

Below are mentioned some of probable latest trends in travel industry 2017

  1.       Adventure trips: As per Virtuoso, one of the latest trends in the travel industry is adventure trips such as African safari, hiking Swiss Alps, swimming with whale sharks in Australia or Mexico. Latest reports have shown that travelers are now moving into a more adventurous destination for their travel plans, thus increasing interest in hard adventures.
  1.       River Cruising: A traditional cruising like the Rhine or Volga River with bedrooms and public areas with Colonia Style furnishing is getting more and more popular among adventure seekers. Myanmar, Laos and Thailand introduced this adventurous cruising trip amid the jungles and mountains, passing through UNESCO world heritage sites such as Luang Prabang and Golden Temple.
  1.       Food tourism: One of the major element of tourism is food, and travel industry has taken quite a notice to it. According to Patrick Whyte, UK Editor – Skift, food experiences aren’t limited to just dining out, but also farm tours, classic food market and cooking courses, which are about 95% of these experiences. Food also plays an important role for travelers to learn the history of the place and make a pact with their culture, which plays a valuable resource for travel agencies as well.
  1.       Mobile photography: More and more travelers are looking for ways to capture their memorable moments. And with latest advancements in mobile devices and their cameras, it has become easier for them to do so. Travel agencies can benefit it by adding this to their marketing efforts and develop user generated content. Allowing travelers to go through breathtaking views and helping them capture those moments by giving them time to have a photoshoot could increase customer satisfaction.
  1.       Train travels: Vintage train trips, providing deluxe dining car, passing villages, river, countryside and all the Europe, giving a soothing pleasure to the commuters is becoming popular among people. These trains stop at cosmopolitan cities where passengers are provided with luxury hotels for the night until the whistle blows in the morning.

Other latest trends in travel industry include responsible tourism, business and leisure travel, medical tourism, Millennials and many more. Travel agencies are required to adapt these travel trends in order to attract more and more travelers to their company.

QuadLabs is a leading travel technology provider, giving tour operators and travel agencies methods to adapt to these travel trends and increase their business’s potential to get higher return on investment.

Some Notable Effects of Demonetisation on Travel Industry

Since the demonetization hit the Indian economy on November 8th, 2016, India witnessed a huge let down in the economy. The bold move by PM Modi, to remove Rs 500 and Rs 1000 notes as legal tender while introducing new Rs 2000 notes in the circulation may be the right and most needed decision to be made in order to control the black money in the country, but it surely made the economy came to a temporary halt, for which he was majorly criticized as well. Travel industry is one such industry that suffered greatly from this heroic decision. Let’s point out some areas where the effects of demonetization hit immensely to the industry.

  1. Inbound and outbound travel: Most Indian travellers found it extremely cumbersome as cash in hand was not a legal tender currency. Card facilities in small shops and roadside market were not available.
  2. Domestic travel: People travelling within the country also tackled issues related to payment Hotels and restaurants along with transportors did not accept old notes.
  3. Reduced traffic on online travel portals: Indian travelers neglected the thought of traveling after the ban, hence the online travel websites saw a considerable decrease in the traffic.
  4. Travel plans postponed: Many travelers postponed their travel plans due to shortage of money. The main priority was to get cash in hand as the Governement had a deadline to exchange old cash into new ones.
  5. Airline bookings: The unexpected ban also hit the airline industry hard as lots of travelers cancelled their air tickets.
  6. Restaurant reservations: Restaurants in big cities showed a massive drop in reservations. There were many cancellations and no shows, which affected both small and large scale hoteliers and restaurants.
  7. National monuments: The number of visitors to national heritage sites showed a significant decline as well. This was mainly due to the shortage of new currency, which made both the domestic and foreign tourists face many issues.
  8. Increased digital payment: Not all the effects of demonetization to travel industry were negative. After the bold decision, travel industry showed a brilliant increase in online payments where the travelers booked their hotels, flight and other travel products using their cards and Internet banking. It also allowed small vendors to use digital wallets as a payment medium, which helped both the travelers and the business owners greatly.

As stated by PM Modi during his demonetization speech that people of India would face difficulties for a couple of months, however, it will only be temporary. His words was true and today, even after so many issues, travel industry in India has shown a rapid growth in the current year.

Address:- 

QuadLabs Technologies Limited

720, 7th Floor,JMD Megapolis, Tower B,

Sohna Road, Sector 48,

Gurgaon 122018, Haryana, India

Phone: +91 9560509246, +91 124 663 6999

Web: http://www.quadlabs.com  Email: marketing@quadlabs.com

Travel Technology platforms for the growth of travel agents and tour operators

Whether it is an established travel agency or a start up tour operator, the need of travel technology cannot be ignored. Every travel company has to adapt a superior travel agency software, which allows them to arrange and manage their travel bookings effectively. Travel technology platforms are helping the travel industry in the rapid growth like they have never witnessed. In earlier times, travel agents used to have difficult time while organizing and managing tour for people. Whether inbound or an outbound tour operator, everyone faces enormous nuisances due to uncertainties of travel.
However, development in travel technology,has given these travel agents and tour operators a greater opportunity to earn a higher return on investment by migrating their business to Software as a Service. Today, travel agents are able to target their audience through better content management system, Global Distribution System and travel agents software. Below are mentioned, how travel technology systems help grow different tour operators.
1. Inbound tour operators: Inbound tour operators invite tourists from other countries and provide a tour of their country. With travel technology system, it would be easy to reach people from other countries. Technology helps the Tour operators send details about tour package, travel destinations, rates, accommodations and other travel related queries, which would attract them to book their agency.
2. Outbound tour operators: These tour operators send people from their country to destinations outside the home country. Travel technology allows Outbound Tour Operators to find people who are looking for a tour in different countries.
3. Travel agency: Travel agencies are an organization which suffice travel needs for people. They plan vacations or business travels for individuals or a group of people as per preferences and budget. Travel technology comes very handy for them as it allows them to target people who are searching for hotel rooms, flights and other travel products by giving them a fair deal. Arrangements such as hotel booking, flight or bus reservations, car rentals, holiday packages are made by Travel Agencies. Furthermore, they also make sure that the travelers don’t have any sort of difficulty during their stay in a different city or country.
QuadLabs travel technology system help these travel agents and tour operators to organize and keep track of their bookings, business processes and front and back office data in a systematic manner, thus providing utmost satisfaction to the traveler regardless of the type of the travel. They are highly specialized and reliable travel technology provider who plays a very important role in maintaining a healthy relationship between the travel company and the customer for years.

Role of GSA and Distributor model in the era of travel industry

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In this era, where travel industry is evolving rapidly due to the latest upgrades in travel technology solutions, travel agents and distributors are benefitting from it high time. However, the role of GSA and distribution solutions cannot be ignored for the immense success of travel industry and travel agencies. The fact that GSA and distributors are using B2B software solutions effectively in order to meet the requirements of travel agencies who wish to enhance their customer base by providing outstanding travel products at a very reasonable price. Let’s discuss the importance of GSA its distributor model and their role in the growth of B2B agents and travel industry.

GSA solutions for B2B agents

General Sales Agent, or simply GSA, are sales representatives for an airline of a particular country or region. GSA are responsible for selling their airline products to travel agents which includes flights and cargo space.GSA receive a commission of 3-5% per ticket. They play an important role in helping travel agencies to set up their holiday packages or book flight tickets for their customers. Any travel technology solution provider offering B2B software solution to a travel company also provides them with remarkable GSA solutions, giving them better opportunities to book airline tickets as per their needs and budget.

It allows the travel agency to get benefits such as intelligent ticketing with cost savings, better management of flight tickets that include cancellation with minimal or no charges, rearranging flight schedules, effective flight booking system and of course, cheaper rates to earn more profit.

 

Distribution solutions for B2B agents

Now when it comes to providing travel agents with distribution solutions, travel technology services make additional efforts to make sure they have no trouble in their business process. And in order to accomplish that, they provide distribution solutions for B2B agents, which empower them to sell more tickets using the Global Distribution System and API. These include travel products such as hotel rooms, car rentals and much more at a better price. It also comes very handy for managing corporate travel, which many travel agents seem to offer to their client. Distributor solution have great importance in the travel industry and for travel agents as they won’t be able to survive in the industry unless they have proper and adequate travel items. An established travel technology provider allows travel companies to have better distribution solutions.

Apart from possessing an attractive online booking system, it is highly necessary that a travel company use the services of GSA and distributor model in a more effective way, if they wish to compete in this heavy market. Today, no company can survive without Technological assistance, and travel industry is no exception. QuadLabs,a leading travel technology service provider fills the void for GSA and Distributors.

 

Address:- 

QuadLabs Technologies Limited

720, 7th Floor,JMD Megapolis, Tower B,

Sohna Road, Sector 48,

Gurgaon 122018, Haryana, India

Phone: +91 9560509246, +91 124 663 6999

Web: http://www.quadlabs.com  Email: marketing@quadlabs.com

 

Is Midoffice automate travel operations, processes, sales and reconciliation?

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Booking engines support us to earn profit on sales, being a travel agent you can easily update prices and offers, depending onto the market conditions. However, there is always a need to integrate systems installed at different places to manage all bookings received.

MidOffice is a “Central Booking Handling Interface” wherein bookings are received different sale channels and processed till the final document is delivered to the customer. These sales channels are distinct or multiple and have a defined role to play, MidOffice takes the responsibility of integrating systems like Booking Engine and third party tools.

Continue reading “Is Midoffice automate travel operations, processes, sales and reconciliation?”