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travel tech insights

Key issues TMCs should evaluate when considering CSBT alternatives (Part 2)

Part I of this series explored the importance of corporate self-booking tools and started to list and explain the main features and functionalities that should be taken into consideration when deciding to opt for such a solution. What is listed and explored in this article best suits the TMCs that service SME customers.

Now, Part II will continue the suggested approach – covering more elements that should be considered. Enjoy!

Topics: Travel Management Software Travel Management Companies CSBT

Preparing to move to a new office

Less than a month and we'll be working from a brand-new office in the City Center: Timpuri Noi Square. We are very happy with this choice and we are looking forward to starting our activity in the new location. 

Topics: anniversary office

Collection challenges in the travel industry

So, let's explore together why we raised the issue of Collection in travel.

Let's consider the following figures:

Flight service:

  • Ticket cost: 560 EUR
  • Agency mark-up: 25 EUR
  • Cost of sales for the ticket: ~ 15 EUR
  • Profit before taxes: 10 EUR
  • If the customer needs to be credited for 2 months with an average interest rate of 2% it means an additional cost of sale of : 11.2 EUR

    This translates into the following calculation:

  • Ticket cost: 560 EUR
  • Agency mark-up: 25 EUR
  • Cost of sales for tickets: ~ 15 EUR
  • Additional cost of sales for crediting: ~11.2 EUR
  • Profit before taxes: -1.2 EUR (actually a loss)

*Note: This example is a simple theoretical one, just to exemplify the previous statement. Reality is more complex than that and it depends on multiple factors: economy, interest rate, sales channel, conversion rate, technology used etc.

Topics: TINA collection collection challenges

Product Updates - June 2017

TINA mid back office system updates

 

Statement of accounts

In the last version of TINA mid-back office, we have developed the possibility to generate statements of the accounts payable or the accounts receivable, with a certain partner, in a certain period.

This option can be very useful for the Financial department, to generate, analyze and send to partners, the balance for the accounts payable (all the confirmed supplier invoices and the associated payment documents) or accounts receivable (all the issued client invoices and the associated cashing documents).

The Statement of account section can be found in the Financial Module and before generation, users should select:

  • the period
  • the entity: corporate or supplier
  • the document type: detailed, outstanding or both, as per the following image:

 

Topics: TINA TBS AIDA travel booking system Product updates tour operator solution mid back office solution

Key issues TMCs should evaluate when considering CSBT alternatives (Part 1)

This article explores the most important facts and features that should be considered by the TMCs servicing small and medium enterprises, when looking for a corporate self-booking tool.

In this dynamic travel industry, business travel is only going to expand; thus, the travel management companies like yours should stay competitive and differentiate themselves by offering premium service to corporate clients and their travelers.

Topics: Travel Management Software Travel Management Companies CSBT