During the COVID-19 pandemic, the travel industry was one of the hardest hits. However, with cases on the decline, the industry anticipates a significant rebound this year.
According to the World Travel & Tourism Council, the travel industry will grow to $8.6 trillion in 2022, which is only 6.4 percent lower than the pre-pandemic stage. However, business travel, which is a critical revenue generator for travel companies, is expected to recover much more slowly.
The Advantages of Travel Agency Software
Simplifying the booking procedure
Travel agency software includes an online booking engine that allows agents to make ticket purchases more easily. This specialized travel booking system can be linked to multiple GDSs or NDC APIs to retrieve global content. As a result, agents can make (real-time) airline and hotel reservations for clients in minutes.
Notably, travel agency software works with a variety of vendors to book flights, hotels, vacations, insurance, car rentals, airport transfers, and so on. The booking engine can be integrated into the agents’ websites, allowing them to sell tickets with their branding. The travel software’s key feature is that it allows agents and customers to transact with a diverse range of payment options and currencies.
Maximizing revenue
To maximize revenue, travel agency software allows agents to charge different transaction/markup fees to their customers. Furthermore, agents can cross-sell ancillary services, which not only increases revenue for travel agents but also delights their customers.
With the help of travel ERP software, travel agents can handle price setting, invoice management, booking of travel products from third-party suppliers and global distribution systems, promo code management, and communication with sub-agents. As a result, the agents can offer a more seamless and personalized booking experience to sub-agents and their customers, resulting in increased revenue.
Workflow optimization
With workflow optimization, travel agency software lowers operating costs and increases efficiency. It assists agents in streamlining mid- and back-office processes in order to provide efficient service to customers. Travel agents can easily organize invoices and track payments for multiple clients at the same time. The automated workflow of travel agency software makes managing invoices, sales commissions, and enforcing policy while booking a breeze.
Full software integration
Multiple GDS systems, accounting systems, and human resource management systems can be integrated with travel agency ERP systems. As a result, agents and sub-agents can gain access to, share, and coordinate pricing, product availability, and other information. It enables agents to make the right offer to the right customer, resulting in increased sales and robust growth.
Reporting in advance
Travel agency software provides trustworthy reporting tools for generating sales, financial data, inventory, vendor management, and so on. These reports assist agents in estimating, forecasting, and making decisions to increase revenue and growth.
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Conclusion
Specialized travel agency software provides businesses with a comprehensive view and greater control over their entire operation.
The travel ERP can also automate document generation, invoicing, finances, reporting, and other processes. This automation reduces the amount of time and money spent on day-to-day activities and expenses.
To remain competitive in today’s market, travel agencies must implement a travel ERP system for their businesses in order to improve productivity and steer agencies in the right direction.
