What are the Benefits a Travel Technology Company can Provide?
If you are looking for an online solution for your travel business, you typically have three options:
- Build it in-house
- Outsource it to a services-based IT company
- Outsource it to a travel technology company
You can exercise the first option only if you have an in-house tech team. Even then, it might be a challenging project depending on the type of application/solution you’re looking to develop. Your in-house team is likely to lack the skills and expertise required to plan and build a solution that can match what’s available from specialized vendors out there in terms of quality and features. If you hire external consultants to assist your team, it’s going to cost you a ton of money. So unless you are a very large organization, this option isn’t really viable.
As far as the second option is concerned, while it is a more viable option, it has its own set of challenges. Eg. a generalist IT company that caters to every domain under the sun doesn’t have in-depth knowledge and expertise in any one domain, including travel. This is okay if you have basic requirements, like a white label website/mobile app.
However, if you want something more complex like an end-to-end travel e-commerce solution with multiple supplier integrations, business rules management, contracted inventory management, outbound distribution and channel management, etc, you are much better off going with a trusted travel technology company with a track record of delivering these kind of solutions to a wide range of travel companies.
Let’s look at some of the major advantages of working with a travel technology company:
The biggest advantage of using a travel technology company for your software development needs is expertise in the travel domain. As travel technology companies build solutions exclusively for the travel industry, they naturally have far more specialized domain knowledge than a company that works with clients in multiple domains.
Their staff is trained on industry-specific processes, they understand the industry terminology, how travel companies operate, the specific needs and challenges faced by travel businesses of various types and sizes in each region etc.
They are aware of the latest trends in online travel and can consult you on various aspects of it to help you build your digital strategy and achieve your business goals.
They can also help you solve technical challenges you may face when you go online. They can even pre-empt potential issues that can arise in various business scenarios, which can save you a lot of hassle later on.
This domain expertise reflects in their products that are built to match the functionalities and workflows required by various types of companies in the travel domain.
Another advantage of working with a travel technology company is that they have ready-to-use solutions for different areas of business covering:
- Online Reservations
- Back-office & Accounting
- B2B Agent Management
- Itinerary Building
- XML API Integration
- Inventory Management
- Distribution and Channel Management etc
Their solutions have been refined over the years based on regular market research and inputs from several industry clients.
So whatever your needs, chances are they have a solution for it. Not to mention the flexibility you will get in terms of pricing models, hosting/deployment – SaaS(plug-and-play), On-Premise or Hybrid, you can choose the model that fits your business.
Generalist IT companies are far less likely to have readily available solutions and will typically develop the solution for you from scratch, which can take anywhere from a few weeks to a few months, depending on the scope.
You also need to spend a lot more time explaining to them what you need as their staff won’t have the same level of domain and product knowledge as those in a travel technology company would.
Having access to off-the-shelf solutions means shorter time-to-market and the ability to incorporate technology into your daily workflow quicker to keep up with the demands of the market.
Solutions for different Business Types
Travel technology companies have products tailored to different business types, including but not limited to:
Each type of business has specific challenges and requires a solution that fits their specific needs. So depending on the nature of your business, a travel technology company can provide you with a solution that would fulfil your requirements. They can also make customizations for you in line with the service agreements you have with them.
Within the travel technology market, there are solution providers that offer solutions to various types of travel businesses(mentioned above) under one roof, but also vendors that focus on a specific segment within the industry, eg leisure travel agencies, or DMCs, or TMCs. You can compare different vendors, their offerings and experience to decide who is the best fit for you.
Strong Relationships with XML Suppliers
If you work with GDSs or other third-party suppliers, and wish to integrate them into your website to sell live inventory, a travel technology company is your best bet. They have strong relationships with XML API suppliers, having worked with them on behalf of their clients for many years. They know the right people inside those organizations and can help you get things quicker.
They also possess a thorough understanding of the processes that are involved in contracting, development and certification. Through this knowledge, they can take care of the technical challenges that may arise pre or post-integration. Without a travel technology company, this can get quite tricky for clients.
Another important thing to note here is that the extensive supplier integration experience that travel technology companies possess allows them to recommend the right suppliers in each region to get the best possible inventory for their B2C and B2B customers. Plus, they have ready connections for all major XML suppliers and can integrate their APIs into your website in a matter of days.
As you can see, there are several advantages of working with a travel technology company when you’re looking to move your business online. But how do you decide which company you should choose?
Let us make that choice easier for you.
TravelCarma is among the world’s leading travel technology companies, with over 20 years of experience and 200+ clients in travel and hospitality. We have a wide range of online travel solutions to help you strengthen your online presence and manage various aspects of your business on a single platform. Click here to learn more