travel tech insights

Fees management rules set-up and their impact on your business profitability

Get your financials right! You know very well the range of commercial agreements that you have with your corporate customers and how complex they can become. Also, a smart and accurate set up and management of service fees, commissions and discounts will have an impact on your business long-term profitability. Most likely, you have a diversity of service fee models – whether in terms of the amounts charged, type of service for which you are charging, type of operation performed (for ex. in case of air tickets – issue, change, refund etc.). As these service fees are a valuable source of revenue, you as a TMC, should be strict when applying fees, discounts and commissions.

Topics: travel erp Travel Management Company TMC travel agency management travel process automation TINA process automation

5 Processes Travel Agencies Can Automate with a Travel ERP

20 minutes may not sound like a lot of time. It’s a quick lunch or a long shower, but it doesn’t seem like enough time to worry about how efficiently it’s been spent. But multiply that 20 minutes five thousand times and you begin to see the way that best use of 20 minutes compounded over a month or a year can turn into real time and real money. If a small travel agency spends 20 minutes manually processing each of the 5,000 airline tickets it sells in a month, that 20 minute process takes up nearly 2,000 hours worth of work—the work of several employees.

Even in today’s increasingly digitized travel industry, this is still all too common of a scenario, especially for smaller travel agencies or travel companies. Yes, it’s true these tasks are important and a large part of a travel agency’s operations. Of course, tickets need to be processed—just as travel policies need to be enforced, invoices need to be managed, and 3rd party bookings need to be recorded. Just because these tasks are crucial, however, does not mean that they still need to be done by hand. Agencies utilizing a travel ERP solution ought to be able to automate these processes and many others, thereby saving time and money while freeing up employees to focus on providing value and completing more useful tasks.

Topics: erp travel erp travel erp system travel process automation process automation travel agencies

Is your Travel Technology ready for 2016 – or 2006?

The beginning of the New Year is the perfect time to take a serious look at your travel technology; the holiday travel rush is over, the staff is back from holiday, a preliminary view of 2015 results is coming into focus and planning for 2016 is being finalized.

This look must be a serious one because: technology plays an increasingly important role in differentiating products and services within the travel marketplace; implementing new technology can be disruptive; and correctly evaluating an existing travel system along with other choices requires time and a sound process.

Topics: Travel Industry travel technology travel website travel agency technology travel agency travel software system travel process automation travel system